July 6, 2010 (Chinavestor) – After enduring a rocky week last week, stocks got a boost today as buyers did some bargain hunting. That helped lift the Dow Jones Industrial Average to gain of 57 points, ending a seven-day losing streak in the process. Chinese stocks were strong performers with the Hang Seng gaining 1.2% and the Shanghai Composite surging almost 2%. The PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) gained just 0.13%, but the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) soared almost 2%. Small-caps finally had a day in the sun as well with the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) adding almost 1%.
Chinese large caps were strong on Tuesday, even telecom names got a boost with China Unicom (NYSE:CHU) adding more than 1% and China Mobile (NYSE:CHL) posting a small gain of its own. Yanzhou Coal (NYSE:YZC) was a stellar performer on Tuesday, surging more than 5% on stronger-than-average volume. Other large-cap commodities names looked good as well with Cnooc (NYSE:CEO) gaining almost 1% and PetroChina (NYSE:PTR) added 1.62%.
China Life Insurance (NYSE:LFC) booked a small gain as well while solar stocks were mixed on the day. Trina Solar (NYSE:TSL) rose slightly and JA Solar (Nasdaq:JASO) jumped 5.3%. On the other hand we saw a loss of 6.31% in LDK Solar (NYSE:LDK) and Yingli Green Energy (NYSE:YGE) dropped 1.53%.
Internet names once again showed weakness with Baidu (Nasdaq:BIDU) suffering a small loss, but Ctrip.com (Nasdaq:CTRP) plunged almost 14% on news that several Chinese airlines would commissions to the online travel reservations firm. Deutsche Bank downgraded Ctrip.com (Nasdaq:CTRP) and the shares have now tumbled more than 42% since June 27th.
Among small-caps, GigaMedia (Nasdaq:GIGM) was last week's top small-cap gainer, but some of those gains evaporated today with a loss of almost 6.5%. CDC Corp. (Nasdaq:CHINA) added to last week's losses with a drop of almost 2%. Origin Agritech (Nasdaq:SEED) continues to attract bears with a down move of 1.44% on Tuesday, but Agria (NYSE:GRO) did rebound 3.43%. China Green Agriculture (NYSE:CGA) was another small bright small among agriculture names, gaining almost half a percent. Jewelry retailer Fuqi International (Nasdaq:FUQI) continues to be a favorite target of the bears, losing another 3.17% today, adding to last week's loss of more than 22%.
American Dairy (NYSE:ADY) lost almost almost 5% on strong volume and Synutra International (Nasdaq:SYUT) dipped by 3.43%. China Sunergy (Nasdaq:CSUN) and China Integrated Energy (Nasdaq:CBEH) both lost close to 2%.
Sutor Technology (Nasdaq:SUTR) added more than 2% after plunging by almost 19% last week. AirMedia Group (Nasdaq:AMCN) was another small-cap name that extended last week's declines by shedding almost 4% today. Other usual suspects among small-cap losers included China Fire & Security (Nasdaq:CFSG) and The9 Ltd. (Nasdaq:NCTY), both of which lost more than 2%.