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China ADR Wrap August 12, 2010

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decline2 August 12, 2010 (Chinavestor) – While Thursday's trade in both China and the U.S. was nothing to write home about, it was less bad than it was on Thursday, but stocks did extend their slides on both side of the Pacific. The Dow Jones Industrial Average lost a bit more than half a percent while the Hang Seng lost almost 1% and the Shanghai Composite (SHA:000001) shed 1.2%. The PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) rebounded from yesterday's plunge, kind of, gaining 0.21% while the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) booked a small loss. Small-caps lagged again with the Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) sliding by more than half a percent.

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In the large-cap space, solar stocks rebounded a bit from yesterday's big plunge. LDK Solar (NYSE:LDK) led the way with a pop of more than 7% and JA Solar (Nasdaq:JASO) followed with a 6.35% move higher. Yingli Green Energy (NYSE:YGE) added almost 4%. Select commodities names performed well, led by a gain of almost 4% for Silvercorp Metals (NYSE:SVM). Yanzhou Coal added almost 2%.

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China Mobile (NYSE:CHL), the world's largest mobile phone carrier by subscribers rose 2.74% after announcing a new Internet search venture with Xinhua News Agency. Huaneng Power added 2.37% and Melco Crown Entertainment (Nasdaq:MPEL) and 51job (Nasdaq:JOBS) each rose by nearly 2%.

Large-cap losers were fairly tame today, but that might not be enough for investors in the online gaming space. Giant Interactive (NYSE:GA) and Netease.com (Nasdaq:NTES) both lost more than 1% while Shanda Games (Nasdaq:GAME) tumbled more than 3%. Away from that sector, Mindray Medical (NYSE:MR) and China Real Estate Information (Nasdaq:CRIC) each lost around 1.7% while WuXi PharmaTech (NYSE:WX) slid almost 1.8%.

Home Inns & Hotels Management (Nasdaq:HMIN) slipped by more than 3%. Synutra (Nasdaq:SYUT) continued its bearish ways, tumbling almost 4% and AsiaInfo Linkage (Nasdaq:ASIA) led the losers, falling 4%.

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Taking a look at small-caps, some of Wednesday's offenders turned into small winners today. Fuqi International (Nasdaq:FUQI) gained 2.62%. Agriculture names were a mixed bag, led by 6.37% gain for Agria (NYSE:GRO). Origin Agritech (Nasdaq:SEED) followed with a pop of 4.53% and China Green Agriculture (NYSE:CGA) added almost 2.7%, but AgFeed (Nasdaq:FEED) didn't participate, tumbling by nearly 6%.

China Technology (Nasdaq:CTDC) and China Grentech (Nasdaq:GRRF) both surged more than 7%. China Infrastructure Investment (Nasdaq:CIIC) booked a gain of nearly 5% while China Fire & Security Group (Nasdaq:CFSG) added almost 4%.

The small-cap losers were tame as well, with few exceptions. Winner Medical (Nasdaq:WWIN) slid almost 3%. China Precision Steel (Nasdaq:CPSL) and ATA Inc. (Nasdaq:ATAI) each lost about 3.3%. Noah Education (NYSE:NED) tumbled by almost 3.7%. Fusi Copperweld (Nasdaq:FSIN) and Cogo Industries (Nasdaq:COGO) each lost more than 4%.

Weak oil prices weighed on WSP Holdings (NYSE:WH), leading that name to a dive of 7.35%. Real estate names continue to look spotty with China Housing & Land Development losing more than 9%. A weak earnings report slammed China Nepstar Chain Drugstore (NYSE:NPD). Those shares traded lower by almost 14% on more than triple the average daily volume.



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