February 28, 2013 (Chinavestor) The Shanghai Composite Index (SHA:000001) ended February on a high note thanks to a 52.4 points or 2.2% jump on Thursday. Not only was the jump significant on its own, the best for the month, but the advance was universal among the 50 largest components of the broad index. Each and every large component advanced except for Wuhai Iron (SHA:600005) and Kweichow M (SHA:600519). The advance is attributed to strong quarterly profits from the largest property developer, China Vanke (SHE:200002). Hopes that policy makers will forgo property curbs also gained momentum helping financial and building material stocks.
Similarly to the mainland, stocks ended February on a high note in Hong Kong. The Hang Seng Index (INDEXHANGSENG:.HSI) surged 443.3 points or 1.9% as economic optimism spread. China Eastern Airlines (HKG:0670)(NYSE:CEA) led airliners higher as investors picked up oversold transportation stocks. Besides CEA, Sinotrans (HKG:0598) and Air China (HKG:0753) made it to best five stocks of the day from components of the Hang Seng Index (INDEXHANGSENG:.HSI).
Investors in Hong Kong often get clues from the U.S. where the Dow rose 175.2 points or 1.2% in a broad rally a day before. The rally was unversal in the US where stocks that advanced outnumbered those that fell fifteen to one among compoennts of the Dow Jones Industrial Average (INDEXDJX:.DJI).