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China ADR Wrap July 13, 2010

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advance7 July 13, 2010 (Chinavestor) – While rumors were dispelled that China would relax restrictions on real estate lending, news that sent the Shanghai Composite Index (SHA:000001) to its first loss in five days and its biggest loss in two weeks, U.S. equities shined as earnings reports from Alcoa (NYSE:AA) and CSX (NYSE:CSX) lifted the Dow Jones Industrial Average to a gain of almost 150 points. China-specific ETFs took part in the U.S. rally with the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) jumping 1.2%. The iShares/FTSE Xinhua China 25 Index (NYSE:FXI) added almost 1% while the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) booked a small gain as well.

 

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As the following screen testifies,  Chinese ETFs did outstanding on the back of strong U.S. markets. ThePowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) advanced 1.2% followed by the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) with a 0.9 percent gain. Small caps lagged behind, despite a strong showing from China Transifo Tech. (NASDAQ:CTFO). Small cap proxy Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) rose a mere 0.4 percent for the day.

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Among some of the names we frequently mention, Synutra International (Nasdaq:SYUT), the dairy products maker that has been home to some bearish trade lately, surged almost 10% today on no news. The stock may have been rebounding from an oversold condition. Internet search giant Baidu (Nasdaq:BIDU) added more than 5% on volume that was below its daily average.

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China Eastern Airlines (NYSE:CEA) rallied almost 5%, but volume in the name was just a third of the daily average. Rival China Southern Airlines (NYSE:ZNH) was another airline that took off on weak volume, popping more than 3% on the day. Ctrip.com (Nasdaq:CTRP) was another marquee Internet name that was in the green today, gaining almost 4%.

AsiaInfo (Nasdaq:ASIA), Changyou.com (Nasdaq:CYOU) and China Real Estate Information (Nasdaq:CRIC) all gained more than 3%.

The damage incurred by the losers wasn't too bad as highlighted by City Telecom's (Nasdaq:CTEL) loss of just 3.2%. China Unicom (NYSE:CHU) was another telecom loser, shedding less than 1%. That stock was the biggest loser among large caps. Perfect World (Nasdaq:PWRD) lost almost 2% and Shanda Interactive (Nasdaq:SNDA) booked a small loss, showing that online gaming remains a tricky patch to navigate. Healthcare names showed some weakness with both Mindray Medical (NYSE:MR) and Wuxi Pharmatech (NYSE:WX) losing almost 1%.

Guangshen Railway (NYSE:GSH), E-House (NYSE:EJ) and Suntech Power (NYSE:STP) all lost less than 1%.

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Small-caps continued a trend that we spotted last week where the winners substantially outpaced the losers on a percentage basis. China TransInfo Technology (Nasdaq:CTFO) surged more than 25% on impressive volume, but there were no headlines to explain the move. Qiao Xing Universal Resources (Nasdaq:XING) was another name posting a big gain, almost 8%, on strong volume and no news. KongZhong (Nasdaq:KONG) added more than 7% on scant headlines, but decent volume.

Wonder Auto Technology (Nasdaq:WATG), China Fire & Security Group (Nasdaq:CFSG), UTStarcom (Nasdaq:UTSI) and Qia Xing Mobile (NYSE:QXM) all gained just under 7% on the day.

ATA Inc. (Nasdaq:ATAI) was the biggest small-cap loser on the day, shedding just 3.61%, but volume was almost triple the daily average. Tiens Biotech (AMEX:TBV) and Xinhua Sports & Entertainment (Nasdaq:XSEL) both lost more than 3%. VisionChina Media (Nasdaq:VISN) dropped almost 3% while Winner Medical Group (Nasdaq:WWIN) shed 2%.

China Grentech (Nasdaq:GRRF), China Integrated Energy (Nasdaq:CBEH), China Sunergy (Nasdaq:CSUN), WSP Holdings (NYSE:WH) and China-Biotics (Nasdaq:CHBT) all lost more than 1% on the day.



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