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Broad rally lifts China stocks in Asia

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advance6 May 29, 2012 (Chinavestor) Asian markets continued to recover on Tuesday. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 254.5 points or 1.3% on Tuesday while the Shanghai Composite Index (SHA:000001) advanced 28.3 points or 1.2%. the rally was universal in both markets with stocks advancing far outnumbering those that fell. Only three components of the 42 member Hang Seng Index fell and most large cap stocks rose in Shanghai, too. All but one component, Huaneng Power Int. (HKG:0901), of the 25 member Xinhua China Index fell in Hong Kong on Tuesday, boding well for the most liquid Chinese ETF the FTSE/Xinhua China 25 Index (NYSE:FXI).

The advance is attributed to macro and political data from China as well as a technical comeback. Low inflation makes government stimulus in China a real possibility, investors argue. Additionally, both markets experienced heavy losses in the wake of Europe's problems, making a technical correction inevitable.

For stocks on the move from the Hang Seng Index as well as the DJIA and the Shanghai Composite, visit the chart below.

pre_20120529



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