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Stocks miss direction is Asia after weak jobs report

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forecast_down January 13, 2014 (Chinavestor) Stocks were looking for direction in Asia ahead the opening bell on the NYSE today. The Dow Jones Industrial Average (INDEXDJX:.DJI) fell 7.7 points last Friday following very disappointing jobs numbers from the Labor Department. Jobs creation was 77,000 in December vs ADP estimates of 238,000.

The Hang Seng index (INDEXHANGSENG:.HSI) advanced a mere 42.5 points or 0.2% while the Shanghai Composite Index (SHA:000001) slid. But Chinese ADRs, e.g. US Listed Chinese stocks, did well last Friday. The Chinavestor China ADR Index, measuring the performance of all NYSE and NASDAQ listed Chinese stock, rose 8.4 points or 1.1%.

Notable movers from last Friday include Baidu.com (NASDAQ:BIDU) and NetEase.com Inc. (NASDAQ:NTES), both from the technology space. Huaneng Power Int. (NYSE:HNP), China's largest independent power generator, rose $1.7 followed closely by Petrochina (NYSE:PTR). But Ctrip.com Inc. (NASDAQ:CTRP), China's online travel agent, fell $1.5, by far the most among major Chinese ADRs.

Going forward, outlook is bight for Aluminum Corp. of China (NYSE:ACH), for its Hong Kong listed H-shares (HKG:2600) rose 6.9% this Monday. Only TravelSky Technology (HKG:0696) fared better among components of the 50 member Hang Seng Index (INDEXHANGSENG:.HSI). See following chart for details.

 

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