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Earnings sink stocks in HK, Shanghai

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decline October 26, 2012 (Chinavestor) Chinese stocks declined the most in 5 week in Asia as disappointing earnings hit home. Maashan Iron & Steel (SHA:600808) and ZTE Corp. (SHA:600063) reported losses while flat screen maker Hisense Electric (SHA:600060) reported lower earnings than expected. The Shanghai Composite Index (SHA:000001) fell 35.4 points or 1.7% as a result. Weak earnings took a toll on the Hang Seng Index (INDEXHANGSENG:.HSI) as well, all but three components o the 42 member index fell on Friday. Besides earnings, profit taking hurt stocks in Hong Kong. The Hang Seng Index (INDEXHANGSENG:.HSI) was at 52 week highs before Friday's sell-off. Visit the following chart to find the most active Chinese stocks both in Hong Kong and in Shanghai.

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