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Stocks end 1st week of August on high note in China

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advance6 August 9, 2013 (Chinavestor) Investor mood significantly improved in China after a 5.1% increase in exports eased concerns about the health of the economy. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 151.7 points or 0.7% on Friday in a broad rally. Stocks that advanced outnumbered those that fell ten to one among components of the 50 member index. Coal miners and resource stocks led the advance as demand for raw materials is on the rise. Yanzhou Coal (HKG:1171), the third largest coal miner in China, led the index higher by surging 6.6%. The surge on Friday is an extension of a week long advance. Yanzhou Coal Mining (HKG:1171) is up 11.6% for the week but it is still down over 50% YTD. China Shenhua Energy (HKG:1088), the largest coal miner in China, leaped 6.1% on Friday following YZC very closely. Jiangxi Copper (HKG:0358), the largest non-ferrous metal miner in China, advanced 5.3% on Friday, the third best components of the Hang Seng Index (INDEXHANGSENG:.HSI). Angang Steel (HKG:0347) and Maanshan Iron (HKG:0323) rose 5.0% and 3.1%, respectively.

While the Shanghai Composite Index (SHA:000001) rose just a modest 0.4% on Friday, the rally was universal. Resource and raw material stocks led the advance in Shanghai, as well. Jiangxi Copper (SHA:600362) rose 3.9% followed by Zijin Mining (SHA:601899), China's largest precious metal miner. Aluminum Corp. of china (SHA:601600), the largest aluminum make of the country, rose2.5% followed by Western Mining (SHA:601168). The broad index climbed 22.81 points or 1.12% for the week.

Visit the chart below for additional information about the most important components of three key indexes.

 

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