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China ADR Wrap July 16, 2010

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decline July 16, 2010 (Chinavestor) Low consumer confidence and troublesome outlook of financials sent the DJIA 261.4 points lower by the end of the day. Each and every component ended the day lower, highlighting the depth of the decline. Most Chinese stocks followed Wall Street lower with some notable exceptions. China Real Estate Information Corp. (NASDAQ:CRIS) and Trina Solar (NYSE:TSL) advanced, both companies over $500 million in market cap, suggesting investors still like undervalued real estate and solar stocks. E-House Holdings (NYSE:EJ), another property related company, pulled out a positive day while Sina Corp. (NASDAQ:SINA) managed to add on to yesterday's gains.

But this is just about all the good news for Friday, most of the action was defensive selling before the weekend.

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Large and small cap China stocks retreated universally, the iShares FTSE/Xinhua 25 Index (NYSE:FXI) fell 2.8 percent while the small cap proxy Claymore AlphaShares Small Cap China ETF (NYSE:HAO) shed 2.4 percent.

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China Real Estate Information (NASDAQ:CRIC) was the best performing large cap China play with a 1.75% advance. Trina Solar (NYSE:TSL) broke thought the $22 level, a new two months high for the stock. E-House Holdings (NYSE:EJ) advanced 0.57 percent as investors bet on the resurgence of oversold Chinese real estate stocks.  Sina Corp. (NASDAQ:SINA) added 0.48 percent after a significant run on Thursday.

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Silvercorp Metals (NYSE:SVM) fell 5.83 percent as most resource players felt the pinch from the stronger euro. Semicinductor Manufacturing (NYSE:SMI) continued to show weakness folllowing plans to issue additional  shares worth $500 million, diluting existing shareholder base.

Small caps tsocks fell alongf the market. Jinpan International Limited (NASDAQ:JST) fell over 20 percent following preliminary quarterly numbers. Fuqi International (NASDAQ:FUQI) gave back most of the gains from the day before while Rino International (NASDAQ:RINO) fell hard again after plateauing on Wednesday.

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