January 10, 2014 (Chinavestor) US listed Chines stock suffered heavily on Thursday as Chinese export growth data disappointed. The China ADR Index, compiled by Chinavestor, fell 12.6 points or 1.67% far underperforming the Dow. The US benchmark shed a mere 18.0 points or -0.11% as investors were waiting for the all important jobs numbers. The ADP report suggested a strong, 238,000 non farm payroll number but the Labor Department reported a much weaker 77,000 jobs growth for December.
Before the latest numbers were out, the Hang Seng Index (INDEXHANGSENG:.HSI) advanced modestly by 58.9 points or 0.26%. The question is where the market is going to go from here. Sound jobs growth may trigger a faster tapering but index futures dropped significantly over weak jobs numbers this morning. There is a lot of uncertainty what the market actually is going to do.
On a stock level, Huaneng Power (HKG:0902) rose 4.0% in Hong Kong, foretelling a similar advance for its ADR, ticker symbol HNP. But most components of the Hang Seng Index fell despite an overall slight increase for the index. That's due to a few, large H-shares that rose while the majority of the 50 member index members fell.