July 10, 20142 (Chinavestor) Chinese stocks were looking for direction in Asia on Tuesday. The Shanghai Composite Index (SHA:000001) shed 6.4 points or 0.3% after an over 2% dive on Monday. Similarly to stocks on the mainland stock traded sideways in Hong Kong. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 31.7 points or 0.2% after 370 points drop a day before. Earnings season kicked in higher gear in the US with Alcoa Inc. (NYSE:AA) reporting second quarter earnings. The company reported better than expected net figures thanks to sound demand from the auto and aerospace sectors. Spain inked a deal how its banks will get rescued, lifting DJIA index futures. This bodes well for the iShares FTSE/Xinhua China 25 Index (NYSE:FXI), the most liquid Chinese ETF.