June 2, 2014 (Chinavestor) Strong Chinese manufacturing data lifted stock market sentiment world wide. The Nikkei 225 jumped 2.05 percent, the Euro Stoxx 50, the FTSE are all in positive territory. Yet, Chinese stocks seem to benefit little from the data. The Shanghai Composite and the Hang Seng Index gained little to no traction following sound data.
Chinese stocks listed in the US failed to show improvement last Friday as well. The Dow closed at record highs yet most Chinese stocks ended the day in the red. CNOOC Ltd. (NYSE:CEO), China's largest offshore oil driller, fell as much as $6.05, far more than any other China stock. Sina Corp. (NASDAQ:SINA) and Baidu Inc. (NASDAQ:BIDU) fell hard as well as profit taking took a toll on them. 58.com Inc. (NYSE:WUBA) fell along BIDU as the stock succumbed to profit taking as well.
One of the brightest spot was Home Inns & Hotels Management (NASDAQ:HMIN), a stock that rose just under $.7. This was twice as much as second best China Life Insurance (NYSE:LFC) last Friday.