July 2, 2012 (Chinavestor) Chinese stocks rose in Hong Kong but traded sideways on the mainland on the first trading day in July. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 416.2 points or 2.1% after home prices rose and manufacturing indicators were above forecast. The advance was universal among Chinese stocks, all but once component of the Xinhua 25 China Index rose. This bodes well for the iShares FTSE/Xinhua China 25 Index (NYSE:FXI), the most liquid Chinese ETF.
But the Shanghai Composite Index (SHA:000001) traded sideways where investors worried about slowing manufacturing due to falling export orders.