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China ADR Wrap June 25, 2010

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buy_sell_2 June 25, 2010 (Chinavestor) – Stocks calmed down a bit on Friday, at least in the U.S., as the Dow Jones Industrial lost less than 10 points, but the Hang Seng and Shanghai Composite both managed higher percentage losses, tumbling 0.2% and 0.5% respectively. The PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) both added more than 1% while the Claymore/AlphaShares China Small-Cap ETF was also up on the day, although not by much.

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It was a strong day for solar names with JA Solar (Nasdaq:JASO), Trina Solar (NYSE:TSL) and Yingli Green Energy (NYSE: YGE) all gaining around 4%. LDK Solar (NYSE: LDK) followed with a gain of about 3%. Other large-cap winners represented a smattering of industries, WuXi PharmaTech (NYSE: WX) and Mindray Medical (NYSE:MR) showing some strength among healthcare issues, both adding around 3%.

Internet search giant Baidu (Nasdaq:BIDU) also popped more than 3% while commodities name Silvercorp Metals (NYSE:SVM) resumed its bullishness after a solid performance last week, gaining more than 5% on Friday.

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As we noted earlier this week, the online gaming space has been tricky and was once again muddled on Friday with Shanda Games (Nasdaq:GAME) and Giant Interactive (NYSE:GA) posting small gains, but NetEase.com (Nasdaq:NTES) and Changyou.com (Nasdaq:CYOU) both finished down fractionally.

Yanzhou Coal (NYSE:YZC) slumped 1.5% on nearly twice the average daily volume. Semiconductor Manufacturing slumped almost 4% on weak volume and no news, but by far the biggest large-cap loser was Synutra International (Nasdaq:SYUT), which plunged almost 13% after announcing a secondary of 3.3 million shares at $19 each.

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Among small-cap winners, Sinovac Biotech (Nasdaq:SVA) jumped almost 12% on volume that was nearly 50% higher than average, but there were headlines to explain the heavy trade or the big move in the shares. CDC Corp. (Nasdaq:CHINA) was also home to a curious move on no news but strong volume. The software maker jumped more than 11% on volume of almost 12.4 million shares compared with average daily trade of 755,000 shares. The same can be said of HQ Sustainable Maritime Industries (AMEX:HQS), which also gained more than 11% on volume of more than 950,000 shares. That compares with a daily average of just over 114,000 shares.

UTStarcom (Nasdaq:UTSI) added on more than 9% on stronger-than-average trade while Global Sources (Nasdaq:GSOL) jumped nearly 8% on more than 10 times its average volume after announcing a $100 million share buyback plan. ChinaCast Education also surged more than 7% on no news. Chindex International (Nasdaq:CHDX), China Green Agriculture (NYSE:CGA) and Advanced Battery (Nasdaq:ABAT) all gained more than 6%.

China Precision Steel (Nasdaq:CPSL) was a suspicious loser, tumbling 7.5% on more than 10 times its average daily, but there were no headlines to prompt the bearish action. General Steel (NYSE:GSI) joined in the bearish moves for Chinese steel stocks, losing almost 4% on more than quadruple its average daily volume. China Housing & Land Development (Nasdaq:CHLN) continued its bearish ways, falling by more than 4%.

China Fire & Security Group (Nasdaq:CFSG), China Natural Resources (Nasdaq:CHNR) and American Oriental Bioengineering all lost more than 2%. Fuqi International (Nasdaq:FUQI), Qiao Xing Universal Resources (Nasdaq:XING), Gushan Environmental (NYSE:GU) and ATA Inc. (Nasdaq:ATAI) all lost more than 1%.



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