May 10, 2012 (Chinavestor) Chinese stocks were looking for direction in Asia on Thursday. The Hang Seng Index (INDEXHANGSENG:.HSI) declined 103.4 points or 0.5% while the Shanghai Composite Index (SHA:000001) eked out a 1.6 points or 0.1% gain. China Cosco (HKG:1919) continued to sink amid tension with Brazil's VALE. Chinese airliners also declined with Air China (HKG:0753) loosing 4.0% for the day. But Chinese telecoms advanced as investors found safety in services stocks. China Telecom (HKG:0728) rose 1.8% while China Unicom (HKG:0762) advanced 0.6%. Huaneng Power Int. (HKG:0901), China's largest independent power generator, rose 3.1% after a solid performance a day earlier.