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Chinese stocks in shadow of the FED

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bank_2 September 23, 2013 (Chinavestor) Chinese stocks were mixed in Asia on Monday. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 131.0 points or 0.6% while the Shanghai Composite Index (SHA:000001) advanced 29.2 points or 1.3%. Investors in Hong Kong remained cautious after a FED instilled rally last week.

The decline was universal in Hong Kong where stocks that fell outnumbered those that advanced three to one among components of the 50 member Hang Seng index (INDEXHANGSENG:.HSI). Buffet backed BYD Company (HKG:1211) continued to show resilience and rose 4.8%. But Zijin Mining (HKG:2899), China's largest gold miner, succumbed to profit taking and fell 4.5%.

 

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