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China ADR Wrap August 5, 2010

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decline August 5, 2010 (Chinavestor) – It was a lethargic day for stocks on both sides of the Pacific as Chinese stocks were under pressure on news of new bank stress tests. The Hang Seng was flat, but the Shanghai Composite (SHA:000001) took a small loss. Here in the States, the Dow Jones Industrial Average slipped slightly on a surprise jump in weekly jobless claims. Our ETF watch shows the PowerShares Golden Dragon Halter USX China (NSYE:PGJ) and the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) endured small losses while the Claymore/AlphaShares China Small-Cap ETF booked a small gain.

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Agriculture names really showed their mettle today among the small-cap winners with Agria (NSYE:GRO) gaining more than 11%. Origin Agritech (Nasdaq:SEED) added almost 9% and AgFeed Industries (Nasdaq:FEED) was up by more than 3%. RINO International (Nasdaq:RINO) was a suspicious winner, rising more than 9% on triple the average daily volume, but no news.

China BAK Battery (Nasdaq:CBAK) booked a nice 7% gain on strong volume. China Sunergy (Nasdaq:CSUN), China Integrated Energy (Nasdaq:CBEH) and China Digital TV (NYSE:STV) all gained more than 4%. Wonder Auto Technology (Nasdaq:WATG) and eLong (Nasdaq:LONG) both added over 2%.

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Among the losers, steel names were weak, lead by General Steel (NYSE:GSI), which lost almost 8.5% on volume that was better than twice the daily average. China Precision Steel (Nasdaq:CSPL) followed with a loss of almost 5%. Fushi Copperweld (Nasdaq:FSIN) participated in the materials downdraft, losing more than 2%.

China Information Security Technology (Nasdaq:CPBY) shed 6.6% on better than average volume, but there was no news to prompt the sell-off. Sutor Technology (Nasdaq:SUTR) and China Architectural Engineering (Nasdaq:CAEI) each dropped by close to 5%. China Sky One Medical (Nasdaq:CSKI) shed 4.30% while VisionChina Media (Nasdaq:VISN) and China TransInfo Technology (Nasdaq:CTFO) both tumbled by more than 2% rounding out the small-cap losers.

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Sina (Nasdaq:SINA) led the way among large-cap winners with a 6.63% gain on quadruple the average daily turnover. Solar names were strong as well, led by LDK Solar (NYSE:LDK), which added 4.58%. JA Solar (Nasdaq:JASO) was up over 3% and Yingli Green Energy (NYSE:YGE) gained close to 2%. Trina Solar (NYSE:TSL) was up by 1.78%.

Shanda Games (Nasdaq:GAME) popped by over 5% and that helped Giant Interactive (NYSE:GA) add almost 1.5%. Perfect World (Nasdaq:PWRD) was a departure from that positivity, losing almost 6% on the day, making that stock the biggest loser among large-caps.

Mindray Medical (NYSE:MR) and Home Inns & Hotels Management (Nasdaq:HMIN) were both up close to 2%.

Commodities names were weak among large-caps as well. PetroChina (NYSE:PTR) lost 0.65% while Aluminum Corp. of China (NYSE:ACH) slid more than 1%. Telecom names weren't much better. China Unicom (NYSE:CHU) also lost 0.65% while China Telecom (NYSE:CHA) shed 1.22%. Baidu (Nasdaq:BIDU) also lost more than 1%.

E-House (NYSE:EJ) booked a small loss on news of the bank stress tests. Synutra International (Nasdaq:SYUT) tumbled 1.74% and 51job (Nasdaq:JOBS) dropped by more than 3% to round out the large-cap decliners.



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