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China ADR Wrap Monday May 17, 2010

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stocksexchange1 May 17, 2010 (Chinavestor) – U.S. indexes spent a good portion of Monday's trading session in the red with the Dow Jones Industrial Average (INDEXDJX:.DJI) down 184 points by noon Eastern time as Europe's debt concerns and faltering oil prices continued to pressure risk appetite. The losses were reversed by the end of the day, helping U.S. equities notch small gains on the day.

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The same cannot be said for Chinese stocks as the bear market theme remains prevalent. The Hang Seng Index (INDEXHANGSENG:.HSI) plunged 430.2 points, or 2.2%, to 19,715.20 and things were not much better for the Shanghai Composite Index (SHA:000001), which shed 136.7 points, or 5.3%, to settle at 2,559,93. Small-caps offered no refuge with the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) tumbling 1.7%. Other major China-specific ETFs didn't fare much better with iShares/FTSE Xinhua China 25 Index (NYSE:FXI) losing 0.5% and the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) slumping by 1.5%.

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With oil prices down almost 21% since their May 3rd high of $87.15 a barrel, solar stocks are doing anything but shining. Chinese solar names such as Trina Solar (NYSE:TSL), Yingli Green Energy (NYSE:YGE) and Canadian Solar (Nasdaq:CSIQ) all declined by at least 7%.

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Online gaming firm Perfect World (Nasdaq:PWRD) was punished on the back of a disappointing earnings report as the bears hammered those shares to the tune of 25%. Environmental services firm RINO International (Nasdaq:RINO) was also done in by a glum profit update, shedding almost 12% on the day. Rival Gushan Environmental Energy (NYSE:GU) was hit by RINO's news as well, losing almost 8% on the day.

Other big losers among Chinese ADRs include Acorn International (NYSE:ATV), which lost 12.6%, and Agria (NYSE:GRO) and Tongxin International (Nasdaq:TXIC), both of which lost more than 9.5%.

Among the winners, E-House (NYSE EJ) may be benefiting from a bounce in the real estate sector. Sinovac Biotech (NYSE:SVA) took back some of Friday's major losses, gaining 2% on Monday. American Dairy (NYSE:ADY) gained over 2.3%, but this may be another dead-cat bounce situation. Another gainer after seeing big losses: Noah Education (NYSE:NED), which added 3.2% , but the stock is still down 18% in the past month. China Mobile (NYSE:CHL) saw some positive trade as global investors sought out the safety of the telecom sector.

China Medical Technologies (Nasdaq:CMED) added 1.6%, showing Chinese healthcare names still have some gas left in their tank. Tiens Biotech (AMEX:TBV) was the top gainer among Chinese names, adding more than 4% after releasing first-quarter results. Zhongpin (Nasdaq:HOGS), China Transinfo Technology (NYSE:CTFO) and Nam Tai Electronics (NYSE:NTE) round out the top-10 Chinese gainers on Monday.



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