November 20, 2010 (Chinavestor) The Dow Jones Industrial Average (INDEXDJX:.DJI) climbed back  in the second part of the week ending the period virtually unchanged but Chinese indices fell. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 616.9 points or 2.6% while the Shanghai Composite Index (SHA:000001) tumbled 96.4 points or 3.3%. China increased bank reserve ratio by 50 bps on Wednesday sending world indices tumbling. Ireland's bailout rattled nerves of investors globally, sending the Euro to a fresh two months low against the dollar. Energy and commodity prices fell on the stronger greenback, hurting both sectors.

A gain of 6.2% for American Express (NYSE:AXP) may have you thinking it was a good week for financials. Alas, it was not, especially in China. Four of the five worst performers in Shanghai were financials, including China Life Insurance (NYSE:LFC) and rival Ping An (SHA:601318).

China Southern Airlines (NYSE:ZNH), the largest domestic carrier, was among the works performing components of the 42 member Hang Seng Index (INDEXHANGSENG:.HSI) as the stock succumbed to profit taking after a 30% plus run earlier in October. Aluminum Corp. of China (NYSE:ACH) and E-House Holdings (NYSE:EJ) were among the weakest stocks for the week among stocks with market cap over $250 million. But investors snapped up assets from the online game sector ahead of earnings. Perfect World (NASDAQ:PWRD) was the best but Giant Interactive (NYSE:GA) and NetEase.com Inc (NASDAQ:NTES) followed it closely. China Grentech (Nasdaq:GRRF) shocked investors with a 60% gain on Thursday but lost support and fell back 15% the next day.