September 11, 2010 (Chinavestor) – A holiday shortened week kept things pretty calm for the major U.S. indexes with Dow Jones Industrial fighting off a triple-digit loss on Tuesday to finish higher by 0.2% on the week. The Shanghai Composite (SHA:000001) did better by a hair, adding 0.3% on the week while the Hang Seng Index (INDEXHANGSENG:.HSI) jumped 1.3%.
It was a rough week for select financials as China Life (NYSE:LFC), China's largest insurance company, slumped by almost 2% and American Express (NYSE:AXP) gave up almost 4%. AmEx was the Dow's best performer last year and is the index's worst performer this year. In Shanghai, China Citic (SHA:601998) dropped by nearly 4%. Commodities names were mixed with Alcoa (NYSE:AA) tacking on almost 3% and Cnooc (NYSE:CEO) surging by more than 6%, but Yanzhou Coal (NYSE:YZC) slipped by more than 1%. Aluminum Corp. of China (NYSE:ACH) participated in the fun by adding 3.6%.
Selected key stocks of the week include Focus Media (Nasdaq:FMCN), Mindary Medical (NYSE:MR) and Silvercorp Metals (NYSE:SVM)to the upside but online gamers suffered: Netease.com (Nasdaq:NTES)fared better while Changyou.com (Nasdaq:CYOU) plunging 7% and Shanda Games (Nasdaq:GAME) and Shanda Interactive (Nasdaq:SNDA) even more.
Shanghai saw some impressive trade in materials names as well as both Western Mining (SHA:601168) and Jiangxi Copper (SHA:600362) surged by almost 7%. In telecom news, Verizon (NYSE:VZ) added 2.7%, but China Mobile's (NYSE:CHL) Hong Kong-listed shares plunged 5.6%, a drop that may have been aided by news that Vodafone (NYSE:VOD) would sell its 3.2% stake in China's largest mobile phone carrier.
China Mobile's (NYSE:CHL) downdraft couldn't keep City Telecom (Nasdaq:CTEL) from a healthy gain of more than 6%. JA Solar (Nasdaq:JASO) was the biggest winner among Chinese large-cap ADRs, soaring almost 14% on the week. Home Inns & Hotels Management (Nasdaq:HMIN) was the only other large-cap ADR to gain more than 5% for the week, popping by 5.3%.
Focus Media (Nasdaq:FMCN), Mindary Medical (NYSE:MR) and Silvercorp Metals (NYSE:SVM) all gained more than 2% while Sohu.com (Nasdaq:SOHU) and China Yuchai International (NYSE:CYD) each rose by nearly 2%.
Taking a look at the losers, China Real Estate Investment (Nasdaq:CRIC) dipped by 3% while E-House (NYSE:EJ) tumbled 3.5%. It was a glum week for online gaming firms with Netease.com (Nasdaq:NTES) giving up almost 4%, Changyou.com (Nasdaq:CYOU) plunging nearly 7% and Shanda Games (Nasdaq:GAME) and Shanda Interactive (Nasdaq:SNDA) both dropping by more than 7%.
The bears continue to have fun with AsiaInfo Linkage (Nasdaq:ASIA) and Synutra (Nasdaq:SYUT) as those names dropped by 8.1% and 10.5%, respectively.
Small caps turned in a solid week with the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) jumping 2.5%. That's nothing compared to the almost 40% surge enjoyed by Xinhua Sports & Entertainment (Nasdaq:XSEL). More impressive is the fact that there were no headlines to prompt that move. Qiao Xing Mobile (NYSE:QXM) soared more than 33% on news that Qiao Xing Universal (Nasdaq:XING) will acquire QXM's outstanding shares.
American Dairy popped more than 27% on the week on what may have been some short covering. WSP Holdings (NYSE:WH) added almost 27% despite the fact that oil prices weren't too impressive. China BAK Battery (Nasdaq:CBAK) and Sinovac Biotech (Nasdaq:SVA) both gained around 21% for the week.
After that, there were no double-digit winners among small caps, but KongZhong (Nasdaq:KONG) added more than 9% and China Technology (Nasdaq:CTDC) gained almost 9%. A-Power Energy Generation (Nasdaq:APWR) surged 8.3% while China Medical Technologies (Nasdaq:CMED) rallied by nearly 8% to round out the small-cap winners.
Good news for one medical stock doesn't mean good news for the entire sector. China Sky One Medical (Nasdaq:CSKI) plunged 32% after paring its profit guidance. Fuqi International (Nasdaq:FUQI) plummeted more than 25% on news of an SEC investigation. China Integrated Energy (Nasdaq:CBEH) dropped almost 14% on the week.
Agria (NYSE:GRO) and China-Biotics (Nasdaq:CHBT) both slipped by more than 12% while Acorn International (NYSE:ATV) and Rino International (Nasdaq:RINO) each shed more 10%. China Fire & Security Group (Nasdaq:CFSG) lost nearly 10%. China TransInfo (Nasdaq:CTFO) and Qiao Xing Universal (Nasdaq:XING) round out the losers, both with losses of more than 8%.
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