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Chinese stocks up in Asia February 14

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China_3 February 14, 2014 (Chinavestor) Chinese stocks rose on the back of advancing US markets. The Dow Jones Industrial Average (INDEXDJX:.DJI) rose 63.7 points or 0.4% after a weak opening, lifting Chinese stocks in its wake. The China ADR Index, compiled by Chinavestor, rose 0.6% outperforming the Dow. 51job Inc. (NASDAQ:JOBS) surged as much as $5.1 on Thursday on top of previous gains earlier the week. Ctrip.com Int. (NASDAQ:CTRP) jumped $4.3 followed closely by SouFun Holdings (NASDAQ:SFUN). Baidu Inc. (NASDAQ:BIDU) and Sina Corp. (NASDAQ:SINA) advanced $3.0 and $2.2, respectively.

 

Guangshen Rail (HKG:0525)(NYSE:GSH), a Hong Kong and NYSE listed railway operator from the Pearl River Delta region, led the Hang Seng Index (INDEXHANGSENG:.HSI) higher. The 50 member index rose 132.9 points or 0.6%. The rally was universal, stocks that advanced outnumbered those that fell three to one among components of the index. Sinopec Shanghai Petrochemical (HKG:0338)(NYSE:SHI), another NYSE cross-listed China play, rose 2.8%. H shares of China Eastern Airlines (NYSE:CEA) rose over 2% as well.

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But it wasn't a cake walk for everyone. Cisco Systems (NASADAQ:CSCO) fell 2.5% on weak quarterly report, the most among component of the 30 member Dow Jones Industrial Average (INDEXDJX:.DJI). NYSE listed CNOOC LTd. (NYSE:CEO) fell $1.3, the most among US listed Chinese companies in a row. Petrochina Co. Ltd. (NYSE:PTR) and Sinopec (NYSE:SNP) fell along the lines. Interestingly, Guangshen Rail (NYSE:GSH) fell $0.2 in NY before the surge next day in Hong Kong.

World markets were mixed this morning. The Nikkei 225 (INDEXNIKKEI:NI225) fell 221.71 points or 1.53% on stronger yen and hurting exports. France's CAC-40 is in the red as well this morning. But the Shanghai Composite (SHA:000001) as well as the Hang Seng Index (INDEXHANGSENG:.HSI) advanced just like Germany's DAX and London's FTSE.

World Markets February 14, 2014 7:30 A.M. EST.

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Good news is that neither the Dow nor most US listed Chinese stocks are considered overbought yet. This gives more breathing room for advancing stocks like Baidu Inc. (NASDAQ:BIDU), SouFun Holdings (NYSE:SFUN) and Sina Corp. (NASDAQ:SINA).

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