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SNP, SHI poised to do well Wednesday

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Asia_2 February 26, 2014 (Chinavestor) Chinese stocks were mixed in Asia on Wednesday, February 26, 2014. The Shanghai Composite Index (SHA:000001) fell 10.9 points or 1.6% while the Hang Seng Index (INDEXHANGSENG:.HSI) rose 120.2 points or 0.5%. The advance was not universal in Hong Kong though, stocks that advanced were the same as those that fell among components of the 50 member Hang Seng Index (INDEXHANGSENG:.HSI). Sinopec (NYSE:SNP)(HKG:0386) and Sinopec Shanghai Petrochemical (NYSE:SHI)(HKG:0338) advanced 4.1% and 2.3%, respectively. This bodes well before their trading begins on the NYSE. But Aluminum Corp. of China (NYSE:ACH)(HKG:2600), Yanzhou Coal Mining (NYSE:YZC)(HKG:1171), and China Southern Air (HKG:1055)(NYSE:ZNH) fell the most among components of the Hang Seng Index.

Chinese stocks have lacked investor interest lately and was evidenced just yesterday, Tuesday, again. The China ADR Index, measuring the performance of all NYSE and NASDAQ listed Chinese listings, fell 1.6% where as the Dow shed only 0.2%. Sina Corp. (NASDAQ:SINA) led the decline after releasing earnings. The stock fell $7.1 or 9.3%. 51job Inc. (NASDAQ:JOBS) fell the second most, followed closely by Baidu Inc. (NASDAQ:BIDU).

But Home Inns & Hotels Management (NASDAQ:HMIN) advanced $1.2, three times as much as second best China BAK Battery (NASDAQ:CBAK).

Visit the following chart to see best and worst components of three key indexes: the Dow Jones, the Hang Seng, and the China ADR Index.

 

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