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China ADR Wrap June 18, 2010

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advance4 June 18, 2010 (Chinavestor) – It was another sluggish day for U.S. stocks with Dow Jones Industrial Average mustering a meager gain of just 16 points, or 0.2%. Chinese stocks didn't fare much better as the Shanghai Composite Index (SHA:000001) tumbled almost 2% in the last trading day of the week. Trade was tepid in Hong Kong with the Hang Seng Index (INDEXHANGSENG:.HSI) gaining just 0.7%.

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Among large-caps, City Telecom (Nasdaq:CTEL) wrapped up an impressive week of gains by gaining almost 6% on Friday. City Telecom (Nasdaq:CTEL) gained more than 19% this week. Syntura International (Nasdaq:SYUT) was all over the map this week, but heads into the weekend with a gain of more than 5% on Friday. Transportation names showed some strength with China Southern Airlines (NYSE:ZNH) gaining 3.52% and Guangshen Railway (NYSE:GSH) adding almost 2%.

If you're looking for strength in the commodities sector, look no further than Silvercorp Metals (NYSE:SVM), which added almost 3.5% today and was up about 9% on the week. Solar names were a mixed bag on the day with LDK Solar (NYSE:LDK) rising by almost 2.5%, but JA Solar (Nasdaq:JASO) lost 3%.

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Tech was also mixed with AsiaInfo Holdings (Nasdaq:ASIA) surging 3.3% and Baidu (Nasdaq:BIDU) gaining 2.2%, while Changyou.com (Nasdaq:CYOU), Shanda Games (Nasdaq:GAME) and Focus Media (Nasdaq:FMCN) all booking small losses.

Perfect World (Nasdaq:PWRD) and Mindray Medical (NYSE: MR) were among the other large-cap losers, but volume was extremely weak in both names, indicating the bears weren't really in control.

There was some compelling action among small-cap winners. VisionChina Media (Nasdaq:VISN) surged almost 10% on nearly triple the average daily volume. China Digital TV (NYSE:STV) jumped more than 8% on strong volume on no news while China Nepstar Chain Drugstore (NYSE:NPD) reversed some bearish trade earlier this week, gaining almost 5% on Friday on better-than-average volume.

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Tongxin International (Nasdaq:TXIC) and ChinaCast Education (Nasdaq:CAST) both gained better than 3%. Advanced Battery (Nasdaq:ABAT) eLong (Nasdaq:LONG), CDC Corp. (Nasdaq:CHINA) and AirMedia Group (Nasdaq:AMCN) all gained less than 3% but more than 2.5%.

On no news, China Fire & Security (Nasdaq:CSFG) tumbled 8% on almost twice the average daily volume, but there was no news to prompt the selling. GigaMedia (Nasdaq:GIGM) shed almost 5% on light volume. Healthcare-related names were home to some bearish trade as American Oriental Bioengineering (NYSE:AOB), China Medical Technologies (Nasdaq:CMED), 3SBio (Nasdaq:SSRX) and China Sky One Medical (Nasdaq:CSKI) all finished the day lower.

China Sunergy (Nasdaq:CSUN), Sutor Technology (Nasdaq:SUTR) and Rino International (Nasdaq:RINO), all of which had been quite volatile this week, each lost more than 3% on Friday.

 



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