June 27, 2012 (Chinavestor) Sound housing data in the US helped lift investor sentiment globally. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 195.1 points or 1.0% on Wednesday in a broad rally. Stocks that advanced outnumbered those that fell four to one among components of the 42 member index. Power generators did well in Hong Kong on Wednesday as price of coal stayed under pressure in China. Huadian Power (HKG:1071) advanced the most among components of the index while Huaneng Power (HKG:0902) and Datang Power (HKG:0991) rose.
Stocks were looking for direction in Shanghai though where investors are waiting for macro data to assess the state of the economy in China. The Shanghai Composite Index (SHA:000001) shed 5.1 points or a mere 0.2% on Wednesday.