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China ADR Wrap July 9, 2010

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advance9 July 9, 2010 (Chinavestor) – A holiday shortened week was just the tonic the bulls needed to reassert themselves as the major U.S. indexes enjoyed their best week in over a year. The Dow Jones Industrial Average added another 0.6% on Friday to complete a strong week while the Shanghai Composite surged 2.3% and the Hang Seng gained 1.6%. Among major China ETFs, the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) both advanced by more than 1.5%. Small-caps outperformed with the the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) gaining more than 2%.

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Solar stocks shined once again on Friday, led by JA Solar (Nasdaq:JASO), which gained another 6.2%. Yingli Green Energy (NYSE:YGE) popped by 5.5% while LDK Solar (NYSE:LDK) and Suntech Power (NYSE:STP) both gained about 4%. Ctrip.com (Nasdaq:CTRP) performed much better this week than it did last week, finishing with a 4.2% gain today.

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Shanda Games (Nasdaq:GAME) added more than 4%, but Changyou.com (Nasdaq:CYOU) lost almost 2% and Netease.com (Nasdaq:NTES) and Perfect World (Nasdaq:PWRD) both booked small losses. Baidu (Nasdaq:BIDU) lost almost 2% on news that rival Google (Nasdaq:GOOG) got its China license operated, both at least one analyst called the news a non-event and that Baidu would not lose much market share.

China Real Information (Nasdaq:CRIC) led large-cap winners with a gain of almost 6.4%,but volume was light and there was no news to prompt to the bullish move. Synutra International (Nasdaq: SYUT) and Cninsure (Nasdaq:CISG) extended losses from Thursday, shedding 2.15% and 3.21%, respectively.

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Taking a look at small-caps, we once again saw strength among agriculture names. Origin Agritech (Nasdaq:SEED) surged almost 9% while AgFeed Industries (Nasdaq:FEED) was no slouch either, gaining almost 5%. Small-cap real estate names were also strong led by Xinyuan Real Estate (NYSE:XIN), which gained almost 7.6%. China Architectural Engineering (Nasdaq:CAEI) rallied by 7.41% and China Housing & Land Development (Nasdaq:CHLN) added more than 4%.

Rino International (Nasdaq:RINO), a name that we mention frequently, added just over 4% while Shengda Technology (Nasdaq:SDTH) gained almost 4.5%.

In a reversal of trend from last week, small-cap losers were outpaced in a big way by the winners. VisionChina Media (Nasdaq:VISN) was the biggest small-cap loser, shedding just 3.6%. ATA Inc. (Nasdaq:ATAI) was next on the list with a loss of just 3.32%. Xinhua Sports & Entertainment (Nasdaq:XSEL) dropped by 2.55%.

HQ Sustainable Maritime Industries (NYSE:HQS), 3SBio (Nasdaq:SSRX), American Oriental Bioengineering (NYSE:AOB) and UTStarcom (Nasdaq:UTSI) all lost more than 1% but less than 1.5%. China Natural Resources (Nasdaq:CHNR) and Actions Semiconductor (Nasdaq:ACTS) both lost just under 1%.



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