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China ADR Wrap July 30, 2010

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profit_1 July 30, 2010 (Chinavestor) – It was a sour end to the week and to the month of July for both Chinese and U.S. stocks as the Dow Jones Industrial Average, Hang Seng and Shanghai Composite Index (00000:SHA) all finished in the red, but at least the indexes were positive for the month. On the bright side, the trade in the China-specific ETFs was quite bullish, led by the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ), which gained almost 1.5% today. The Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) also added more than 15 while the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) booked a small gain on the day.

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Among large-cap winners, Semiconductor Manufacturing International (NYSE:SMI) led the way with a move of over 9% on volume that was 25% above the daily average. AsiaInfo Linkage (Nasdaq:ASIA) followed with a gain of 6.53% and China Eastern Airlines (NYSE:CEA) was in the green by almost 5%. Another transportation name, Guangshen Railway (NYSE:GSH) was higher by 3.7% while Silvercorp Metals (NYSE:SVM) was up by nearly 4%.

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China Unicom (NYSE:CHU), Netease.com (Nasdaq:NTES) and Melco Crown Entertainment (Nasdaq:MPEL) were all higher by more than 3%. Baidu (Nasdaq:BIDU) and China Yuchai (Nasdaq:CYD) both gained almost 3%.

There weren't a lot of bitter pills to swallow among large-cap losers, but Shanda Games (Nasdaq:GAME) tumbled more than 4%. That was enough to help Changyou.com (Nasdaq:CYOU) and Perefect World (Nasdaq:PWRD) to losses of more than 1% each.

Another weak sector was solar with Suntech Power (NYSE:STP) shedding 3.5% and Trina Solar (Nasdaq:TSL) shedding almost 1.2%. Yingli Green Energy (NSYE:YGE) was also down more than 2%. Synuta International (Nasdaq:SYUT) lost almost 4%. E-House (NYSE:EJ), Sohu.com (Nasdaq:SOHU) and Home Inns & Hotels Management (Nasdaq:HMIN) all lost more than 1%.

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Small-caps finished the week in fine fashion with the winners trouncing the losers on a percentage basis. Xinyuan Real Estate (NYSE:XIN) and AirMedia (Nasdaq:AMCN) both gained well over 7%. Xinhua Sports & Entertainment (Nasdaq:XSEL) added 6.5% on light volume. China Infrastructure Investment (Nasdaq:CIIC) added almost 6% on strong volume after the stock was mentioned in some penny-stock emails that made the rounds last night. WSP Holdings (NYSE:WH) also gained nearly 6%.

China-Biotics (Nasdaq:CHBT), Nam Tai Electronics (NYSE:NTE), China Integrated Energy (Nasdaq:CBEH) and Chindex International (Nasdaq:CHDX) all jumped by more than 4%.

As we said earlier, the losers weren't too bad in the small-cap space. China TechFaith Wireless (Nasdaq:CNTF) led the way with a drop of nearly 3%. China Precision Steel (Nasdaq:CPSL) followed by losing nearly 2.5%. Agria (NYSE:GRO) and Tiens Biotech (AMEX:TBV) each lost more than 2%.

Fushi Copperweld (Nasdaq:FSIN) lost almost 2% and after that the losers become quite benign. China Nepstar Chain Drugstore (NYSE:NPD), Sutor Technology (Nasdaq:SUTR), China Sunergy (Nasdaq:CSUN), AgFeed Industries (Nasdaq:FEED) and Qiao Xing Universal Resources (Nasdaq:XING) all lost more than 1.3% but less than 1.8%.



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