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Hang Seng, Shanghai fall while S&P hits record

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buy_sell_2 February 25, 2014 (Chinavestor) Chinese stock continue to struggle despite a strong market sentiment in the USA. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 71.36 points or -0.32% while the Shanghai Composite index (SHA:000001) declined 42.47 points or -2.04% on Tuesday. All this at a time when the S&P 500 hit all time high and the NASDAQ is at 14 year high. World Markets, February 25, 2014 at 8:00 A.M. EST

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Weak China stock performance in Asia was foretold by a disastrous showing of Chinese ADRs a day before. The China DR Index, measuring the performance of NYSE and NASDAQ listed Chinese ADRs, fell 13.5 points or 1.9% when US markets hit record highs. Sina Corp. (NASDAQ:SINA) rose $3.1 following news that it is going to spin off its Weibo unit. WuXi Pharma (NYSE:WX) and Ctrip.com Int. (NASDAQ:CTRP) did better than most Chinese ADRs, too. But these stocks were exception to the rule: Chinese stocks continued a steep decline.  SouFun Holdings (NYSE:SFUN) fell as much as $5.0 and 51job Inc. (NASDAQ:JOBS) declined $4.4. NetEase Inc. (NASDAQ:NTES) shed another $3.0 on Monday and is off 13.5% YTD.

The decline continued in Asia on Tuesday. The Hang Seng fell 71.4 points with most of its components ending in the red. The decline was universal, stocks that fell outnumbered those that advanced five to one among components of the 50 member index. HSBC Holdings (HKG:0005) (NYSE:HSBC) fell 2.7%, the most among NYSE-HKEx cross listed stocks. China Eastern Airlines (HKG:0670)(NYSE:CEA) continued to bleed in Asia. But CNOOC Ltd. (HKG:0883)(NYSE:CEO) beat the market with a 1.6% advance. Warren Buffet backed BYD Company (HKG:1211) rose 1.6% while Brilliance Auto (HKG:1114), local partner of BMW, advanced 2.0%.

Most active components of key regional indexes February 24-25, 2014

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