Damn theres a lot of money chasing returns.
The Hang Seng Index (INDEXHANGSENG:.HSI) kicked off 2011 with a healthy 400 points jump on Monday as investors embraced the new year. The rally was universal, stocks that advanced outnumbered those that fell six to one among 42 members of the Hang Seng Index (INDEXHANGSENG:.HSI). The Shanghai Composite Index (SHA:000001) was closed for the day.
Energy and resource and airline stocks led the rally. China's only NYSE listed coal miner, Yanzhou Coal Mining Co. (NYSE:YZC) advanced 3.4% followed closely by CNOOC Ltd. (NYSE:CEO) and China's largest oil producer, Petrochina Co. Ltd. (NYSE:PTR)....MORE