August 20, 2010 (Chinavestor) – Whatever virus it was to infect U.S. stocks on Thursday made its way to China on Friday as the Hang Seng Index (INDEXHANGSENG:.HSI) lost 0.4%, but the Shanghai Composite Index (SHA:000001) really took a spill, falling 1.7%. No surprise here: U.S. stocks were in the red again as the Dow Jones Industrial Average lost more than half a percent.
Key stocks of the day: Shanda Games (Nasdaq:GAME) and Netease.com (Inc. Nasdaq:NTES) among online gamers. Yanzhou Coal (NYSE:YZC), China Eastern Airlines (NYSE:CEA) and China Southern airlines (NYSE:ZNH) among NYSE-HKEx cross listed blue chips.
Somehow, the China-specif ETFs that we track all finished the day in the green, led by a gain of nearly 1% for the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO). The PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and iShares/FTSE Xinhua China 25 Index (NYSE:FXI) both booked small gains on the day.
Among large-cap winners, the gains were small and came from a host of familiar names. Shanda Games (Nasdaq:GAME) led the way with a pop of 3.4% and that helped Netease.com (Nasdaq:NTES) added almost 2.3%. Yanzhou Coal (NYSE:YZC) added over 3% and both major listed airlines, China Eastern Airline (NYSE:CEA) and China Southern Airline (NYSE:ZNH), both gained just under 3%.
New Oriental Education (NYSE:EDU) posted a solid run today, adding 2.77% on no news. Ctrip.com (Nasdaq:CTRP) and VanceInfo Technology (NYSE:VIT) both gained more than 2%. Focus Media (Nasdaq:FMCN) and Home Inns & Hotels Management (Nasdaq:HMIN) both popped by more than 1.5%.
All things considered, the biggest losers weren't too bad. Suntech Power (NYSE:STP) led the way, losing 3.54%. Synutra International (Nasdaq:SYUT) continued its bearish ways, slipping almost 3.4%. Mindray Medical (NYSE:MR) extended a decline that started earlier this week, shedding 1.7%. Changyou.com (Nasdaq:CYOU) and Silvercorp Metals (NYSE:SVM) each lost 1%.
There were no more large-caps that lost at least 1%. WuXi Pharmatech (NYSE:WX) lost nearly 0.9%. Huaneng Power (NYSE:HNP), Melco Crown Entertainment (Nasdaq:MPEL) and China Yuchai International (NYSE:CYD) all shed around 0.7%. Aluminum Corp. of China (NYSE:ACH) rounds out the losers with a drop of just 0.42%.
Small-caps managed a decent day, led by a strong volume, no news gain of more than 6% for Tongxin International (Nasdaq:TXIC). GigaMedia (Nasdaq:GIGM) surged more than 5% on more than double the average daily volume. ChinaEdu (Nasdaq:CEDU) gained nearly 5% on strong volume two days after delivering second-quarter earnings. UTStarcom (Nasdaq:UTSI) soared 4.5% while WSP Holdings (NYSE:WH) added 3.3%.
China Technology (Nasdaq:CTDC) and China Architectural Engineering (Nasdaq:CAEI) both gained more than 3%. China Digital TV (NYSE:STV) and Vimicro International (Nasdaq:VIMC) each added more than 2% while Zhongpin International (Nasdaq:HOGS) rounds out the winners with a pop of 1.66%.
Looking at the losers, Acorn International (NYSE:ATV) plummeted by more than 15% on volume that was more than six times the daily average after reporting earnings yesterday. Tiens Biotech (AMEX:TBV) lost more than 9% on double the average daily volume, but there was no news to spark the big drop. AirMedia (Nasdaq:AMCN) and China Housing & Land Development (Nasdaq:CHLN) each lost (Nasdaq:CHLN) 5.8%. HQ Sustainable Maritime Industries (AMEX:HQS) lost more than 5% on volume that was nearly a third above the average daily turnover.
Xinhua Sports & Entertainment (Nasdaq:XSEL) and Agria (NYSE:GRO) each slipped by more than 4%. China BAK Battery (Nasdaq:CBAK), China Precision Steel (Nasdaq:CPSL) and Rino International (Nasdaq:RINO) all slid by about 3.9% on the day.