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China ADR Wrap July 7, 2010

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advance4 July 7, 2010 (Chinavestor) Wednesday started out slow but turned out to be a great market day. The DJIA advanced 274.7 points or 2.4 percent reclaiming the 10,000 level. Each and every component of the 30 member index rose for the day. Large cap Chinese ADRs rose almost universally, Baidu.com (NASDAQ:BIDU) taking the lead followed by solar players such as Trina Solar (NYSE:TSL), Yingli Green Energy (NYSE:YGE) and Suntech Power (NYSE:STP). Silvercorps Metals (NYSE:SVM) rose over 5 percent as well.

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Large cap Chinese stocks advanced almost universally on the back of the DJIA. Baidu.com (NASDAQ:BIDU) advanced the most among Chinese ADRs of $500 million market cap and above. Trina Solar (NYSE:TSL) broke thought the $20 limit again helping the rest of the industry soar as well. Yingli Green Energy (NYSE:YGE) and Suntech Power (NYSE:STP) advanced over 5 percent as well. Silvercorps Metals (NYSE:SVM), a Chinese precious metal miner, advanced sharply as metal and resource prices rose.

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Overbought China Unicom (NYSE:CHU) fell for the day, just as predicted. More inforamtion about the overbought/oversold monitor, read today's report: Overbought China stocks on July 7: CHU, CHL, SYUT.

Small cap Chinese stocks remained volatile and the rally was less universal than for large caps. China Biotics (NASDAQ:CHBT) roise 8.86 percent followed by China Integrated Energy (NASDAQ:CBEH), a Chinese bio-diesel producer. Rino International (NASDAQ:RINO) jumped 5.88 percent as investors snapped up the stock on valuation.

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American Oriental Bioengineering (NYSE:AOB) and China Infrastructure Investment (NASDAQ:CIIC) fell the hardest as fundamentals didn't support much either of these stocks.



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