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China ADR Wrap August 26, 2010

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decline_7 August 26, 2010 (Chinavestor) – It was a mixed day for Chinese stocks with the Shanghai Composite Index (SHA:000001) managing a small gain of 0.3% and the Hang Seng booking a small loss, but the real problem continues to be U.S. stocks. The Dow Jones Industrial spent a fair part of the day in positive territory, but a sell-off that started in the early afternoon led the blue chip index to its first close below 10,000 in almost two months. That was a drag on on the China-specific ETFs that we track as both the Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) and the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) both losing 0.57%. The iShares/FTSE Xinua China 25 ETF (NYSE:FXI) slid almost 1%.

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Before we get into stock specific news, we want to call your attention to China Education Alliance (NYSE:CEU), which rang the opening bell at the New York Stock Exchange today and Chinavestor was there to interview company executives. Check out the interview here: http://www.chinavestor.com/news-archive/72237-interview-china-education-alliance-ringing-the-nyse-opening-bell-.html

There bad news is there weren't any truly noteworthy gains made by Chinese large-caps, but the good news is that there weren't big losers either. Ctrip.,com (Nasdaq:CTRP) led the winners with a gain of 3.34%. VanceInfo (NYSE:VIT) followed, adding almost 3.2%. Trina Solar (NYSE:TSL) moved higher by more than 3% and that helped Yingli Green Energy (NYSE:YGE) add 1.65%, but solar was a mixed bag as LDK Solar (NYSE:LDK) and Suntech Power (NYSE:STP) both lost more than 2% on the day.

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Sohu.com (Nasdaq:SOHU) popped by 2.69% while City Telecom (Nasdaq:CTEL), Focus Media (Nasdaq:FMCN), Guangshen Railway (NYSE:GSH), Mindray Medical (NYSE:MR) and Longtop Financial (NYSE:LFT) all gained 1% or more.

China Life Insurance (NYSE:LFC), China's largest life insurance firm, led the losers with a drop of almost 3.4% after reporting earnings that weren't up to snuff. That news was a drag on rival CNinsure (Nasdaq:CISG), which slipped almost 2%. China Yuchai International (NYSE:CYD) dropped 2%. China Southern (NYSE:ZNH) was grounded by a 2.35% loss. AsiaInfo Linkage (Nasdaq:ASIA), Shanda Games (Nasdaq:GAME) and Synutra (Nasdaq:SYUT) all lost at least 2.5% on the day. Melco Crown Entertainment rounds out the losers with a decline of 3.33%.

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Small-caps were a bit more volatile today and the winners were led by Acorn International (NYSE: ATV), which built on yesterday's gains by adding 6.35% today. Global Sources (Nasdaq:GSOL) followed with a pop of 5.2%. There was some strength in agriculture names as Zhongpin (Nasdaq:HOGS) surged 4.61% and Origin Agritech added more than 3%.

American Dairy (NYSE:ADY) and eLong (Nasdaq:LONG) each traded higher by more than 4%. Tiens Biotech (AMEX:TBV) rebounded from yesterday's bearish trade to put on a 4% run today. Tongxin International (Nasdaq:TXIC) and Xinyuan Real Estate (NYSE:XIN) each added more than 3.8%.

Looking at the losers, A-Power Energy Generation Systems (Nasdaq:APWR) was hammered by 12.2% on disappointing earnings news. GigaMedia (Nasdaq:GIGM) gave back almost 11% of Wednesday's big gain, but the stock is still positive on the week. AirMedia (Nasdaq:AMCN) shed almost 6%.

China Natural Resources (Nasdaq:CHNR), WH Holdings (NYSE:WSP), KongZhong (Nasdaq:KONG) and The9 Ltd. (Nasdaq:NCTY) all slipped by more than 4%. China TransInfo (Nasdaq:CTFO), China TechFaith Wirelesss (Nasdaq:CNTF) and China Housing & Land Development all lost more than 3.5% on the day.



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