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China ADR Wrap August 31, 2010

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new_year2 August 31, 2010 (Chinavestor) – The final day of August was barely different than the rest of the month as both Chinese and U.S. stocks slogged through another tough day. The Hang Seng slid 1% and the Shanghai Composite Index (SHA:000001) gave up half a percent while the Dow Jones Industrial Average managed a slight gain on after looking like it would close lower. China-specific ETFs turned in a mixed performance as the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) finished slightly in the red, but the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) booked a moderate gain. By comparison, the Claymore/AlphaShares China 25 Index (NYSE:HAO) impressed, adding three-quarters of a percent.

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Large caps didn't impress, at least not on a percentage basis. JA Solar (Nasdaq:JASO) led the way with a pop of almost 4.6% and that helped Trina Solar (NYSE:TSL) finish higher by 4%. Yingli Green (NYSE:YGE) also gained 3%.

Huaneng Power (NYSE:HNP), Shanda Games (Nasdaq:GAME) and China Southern Airlines (NSYE:ZNH) all added more than 3% on the day. VanceInfo Technology (NYSE:VIT) and Sina Corp. (Nasdaq:SINA) both gained more than 2% while Silvercorp Metals (NYSE:SVM) and WuXi Pharmatech (NSYE:WX) each tacked on almost 2%.

While the winners really didn't impress, it must be noted that the losers were tolerable. CNinsure (Nasdaq:CISG) and AsiaInfo Linkage (Nasdaq:ASIA) were the biggest losers, each shedding more than 7%. Synutra International (Nasdaq:SYUT) continues to be fertile ground for the bears as that name slid by almost 5%. Perfect World (Nasdaq:PWRD) tumbled 3.7% and Melco Crown Entertainment (Nasdaq:MPEL) also lost more than 3% on the day.

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Internet names weren't strong as Ctrip.com (Nasdaq:CTRP) lost 2.3% and Netease.com (Nasdaq:NTES) gave up 1.6%. Mindray Medical (NYSE:MR) lost more than 1% while Guangshen Railway (NYSE:GSH) and Giant Interactive (NYSE:GA) each gave up about 1%.

Among small-caps, Gushan Environmental Energy (NYSE:GU) was a surprise winner, adding almost 9% on volume that was more than double the daily average, but there were no headlines to prompt the move. China-Biotics (Nasdaq:CHBT) followed with a nice move of almost 7%. Chindex International (Nasdaq:CHDX) was no slouch either, adding 5% on the day. Acorn (NYSE:ATV) and 3SBio (Nasdaq:SSRX) each popped by more than 4%.

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Tiens Biotech (AMEX:TBV) and China TechFaith Wireless (Nasdaq:CNTF) both added more than 3%. AirMedia (Nasdaq:AMCN), American Dairy (NYSE:ADY) and China Grentech (Nasdaq:GRRF) each gained more than 2% to round the small-cap winners.

Weak earnings plagued Noah Education (NYSE:NED), which plunged almost 13.6% on almost twice the average daily trade. It was a bad day for agriculture stocks as Origin Agritech (Nasdaq:SEED) slid 11.5% and that dragged down China Green Agriculture (NYSE:CGA) by almost 4.5%.

Other losers include China Technology (Nasdaq:CTDC), which gave up 7% and A-Power Energy Generation (Nasdaq:APWR), which lost nearly the same amount. Xinhua Sports & Entertainment (Nasdaq:XSEL) dropped more than 5% and China Precision Steel (Nasdaq:CPSL) dipped 4.2%. HQ Sustainable Maritime Industries (AMEX:HQS), Winner Medical (Nasdaq:WWIN) and China TransInfo (Nasdaq:CTFO) round out the losers, as all lost more than 3.6%, but less than 4%.



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