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China ADR Wrap July 27, 2010

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advance8 July 27, 2010 (Chinavestor) – Stocks were looking a tad overbought heading into Tuesday, a description fitting of both Chinese and U.S. issues. The Shanghai Composite (SHA:000001) snapped a seven-day winning streak to close lower by 0.5%. The Dow Jones Industrial Average barely extended its own winning run by adding a scant 0.1%. Hong Kong was the place to be on Tuesday as the Hang Seng Index tacked on 0.6%. The trio of ETFs that we track here at Chinavestor all finished the day lower, led by a loss of 0.54% for the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ). The iShares/FTSE Xinua China 25 Index (NYSE:FXI) lost almost half a percent and the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) booked a small loss on the day.

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Looking at large-cap losers, solar names took it on the chin today as that group was looking a tad overbought heading into the trading day. Suntech Power (NYSE:STP) lost more than 4% while Trina Solar (NYSE:TSL) and LDK Solar (NYSE:LDK) both lost about 5% while Yingli Green Energy (NYSE:YGE) shed almost 6% and JA Solar was the biggest large-cap loser with a drop of nearly 7%.

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NetEase.com (Nasdaq:NTES) was the big loser among online gaming firms with a tumble of nearly 5%. On the other hand, Perfect World (Nasdaq:PWRD) popped more than 2%, Shanda Games (Nasdaq:GAME) added almost 2% and Shanda Interactive (Nasdaq:SNDA) gained more than 1%.

Silvercorp Metals (NYSE:SVM) shed nearly 2.5% while Melco Crown Entertainment (Nasdaq:MPEL), Synutra International (Nasdaq:SYUT) and CNinsure (Nasdaq:CSIG) all tumbled by more than 3%.

Beyond the online gaming firms, winners include Baidu (Nasdaq:BIDU), which booked a small gain of just under 1%. Aluminum Corp. of China (NYSE:ACH), AsiaInfo (Nasdaq:ASIA) and Longtop Financial (NYSE:LFT) all gained at least 1%. City Telecom (Nasdaq:CTEL) popped by more than 2%, Sohu.com (Nasdaq:SOHU) was higher by more than 3% and 51job (Nasdaq:JOBS) led the winners, rising almost 5%.

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Small-caps reversed the trend that we've been seeing recently where the winners far outpace the losers, at least for one day. China Infrastructure Investment (Nasdaq:CIIC) was hammered to the tune of 22% on no news and volume that was about 10 times the daily average. China Sky One Medical (Nasdaq:CSKI) followed with a loss of 7%. Fuqi International (Nasdaq:FUQI) was back in the red with a loss of more than 6%. China TransInfo Technology (Nasdaq:CTFO) lost more than 5%.

Wonder Auto Technology (Nasdaq:WATG), Rino International (Nasdaq:RINO), ShengdaTech (Nasdaq:SDTH) and China BAK Battery (Nasdaq:CBAK) all lost more than 4%. A-Power Energy Generation Systems (Nasdaq:APWR) and Qiao Xing Mobile (NYSE:QXM) both lost nearly 4%.

Agria (NYSE:GRO) surged more than 16% on no news and volume that was nearly triple the daily average. Winner Medical Group (Nasdaq:WWIN) popped more than 6% on volume that was close to double the daily average. China Fire & Security Group (Nasdaq:CFSG) added more than 5%. Zhongpin (Nasdaq:HOGS) got a lift from Agria (NYSE:GRO), adding 3.31%.

Small-cap telecom names saw some strength with UTStarcom (Nasdaq:UTSI) adding almost 4% and China TechFaith Wireless (Nasdaq:CNTF) gaining nearly 3%. Commodities names showed some moxy on a challenging day with Fushi Copperweld (Nasdaq:FSIN) Qiao Xing Universal Resources (Nasdaq:XING) both gaining more than 2%.

 



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