August 22, 2013 (Chinavestor) Equities were mixed in China on Thursday after the FED tapering off sentiment sent the Dow Jones Industrial Average (INDEXDJX:.DJI) tumbling. In fact, all but three components of the 30 member Dow fell.
But the Hang Seng Index (INDEXHANGSENG:.HSI) bounced back after a steep decline earlier the week. China's flash manufacturing PMI reading was better than expected, helping shore up sentiment. Hong Kong's major gauge rose 77.7 points or 0.4% on Thursday. The advance was universal, stocks that advanced outnumbered those that fell three to one among components of the 50 member index. Warren Buffet backed BYD Company (HKG:1211) rose 4.6%, the most among components of the index.
Investors locked in profits on the mainland where the Shanghai Composite Index (SHA:000001) fell 5.8 points or 0.3%.