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China stocks trade water in EUs woes

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Greece May 8, 2012 (Chinavestor) Chinese stocks took a breather in Asia on Tuesday moning after a heavy sell-off in Hong Kong a day earlier. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 51.9 points or 0.3%, a fraction of the fall it experienced on Monday. Air China (HKG:0753) and China Southern Airlines (HKG:1055) advanced but China eastern Airlines (HKGL:0670) broke a seven day winning streak as investors took profits. Aluminum Corp. of China (HKG:2600) succumbed to profit taking as well. Investors on the mainland continued to trade water on Tuesday. Most investors are awaiting for the spill-over effect of monetary easing albeit its scope and timing remains uncertain. The Shanghai Composite Index (SHA:000001) shed 3.1 points or 0.1% amid relatively light volume. China Cosco (HKG:1919) recovered some losses from a day earlier while Chaclo (SHA:601600) China's largest producer of aluminum, gave back from Monday's advances.

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