June 17, 2010 (Chinavestor) – It was another day of tepid gains for U.S. stocks and their Chinese counterparts did not follow suit as the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the iShares/FTSE Xinhua China 25% Index (NYSE:FXI) both fell more than 1% each. Small-caps offered little refuge with the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) retreating after booking decent gains over the past few days.
Among large-caps, solar stocks once again caught a bid with JA Solar (Nasdaq:JASO), LDK Solar (NYSE:LDK) and Suntech Power (NYSE:STP) all advancing on the day. A curious winner was 51job Inc. (Nasdaq:JOBS), a provider of employment services, which advanced more than 7% today on more than quadruple the average daily volume, but there was no news to drive the robust gain and volume.
Commodities names were a mixed bag with Silvercorp Metals (NYSE:SVM) continuing to look bullish, gaining almost 1.3%. Yanzhou Coal (NYSE:YZC) and Aluminum Corp. of China (NYSE:ACH) did not follow suit, losing 2.2% and 3.3%, respectively. The gaming sector remains a tricky one to navigate as Shanda Games (Nasdaq:GAME) tumbled more than 3% and Internet giant Baidu (Nasdaq:BIDU) also shed about 3%.
WuXi PharmaTech (NYSE:WX) was the biggest loser among Chinese large-caps, dropping by more than 7% as investors continued to voice their opposition to Charles River Laboratories (NYSE:CRL) proposed acquisition of WuXi (NYSE:WX). The $1.6 billion acquisition was announced in late April.
Another suspicious gainer was VisionChina Media (Nasdaq:VISN), which surged almost 17% on volume that was roughly 25% above the daily average, but again, there were no headlines to feed the rally. Gushan Environmental Energy (NYSE:GU) jumped more than 12% on decent volume, but there was no news on this name either. China Architectural Engineering (Nasdaq:CAEI) gained almost 6%, but volume in the name was weak.
Sinovac Biotech (Nasdaq:SVA), China Sunergy (Nasdaq:CSUN), Cogo Group (Nasdaq:COGO), HQ Sustainable Maritime Industries (AMEX:HQS) and eLong (Nasdaq:LONG) all gained more than 2% on Thursday.
Acorn International (NYSE:ATV) slid more than 6%, but volume was exceptionally light less than 17,000 shares compared to average daily trade of almost 131,000 shares. General Steel Holdings (NYSE:GSI) was impacted by some dour trade in the commodities complex, sliding 5.3%. We mentioned 3SBio (Nasdaq:SSRX) yesterday after the stock made a massive move higher late in the trading day, but some of those gains were given back today as the stock shed 4% on light volume.
China Natural Resources (Nasdaq:CHNR), China BAK Battery (Nasdaq:CBAK), Tongxin International (Nasdaq:TXIC) and China Information Security Technology (Nasdaq:CPBY) all shed at least 3%. China Nepstar Chain Drugstore (NYSE:NPD), China's largest chain drugstore operator, lost almost 5% on volume that was roughly 50% above the daily average. China Nepstar Chain Drugstore (NYSE:NPD) is down about 30% in the past month.