September 2, 2010 (Chinavestor) – Wednesday's strong move in U.S. stocks found its way over to China as both the Hang Seng and the Shanghai Composite Index surged 1.2% today. U.S. stocks extended the rally into a second day as the Dow Jones Industrial Average added half a percent on the day. China-specific ETFs enjoyed another solid day as the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) both gained about 1%. Small-caps put in another strong performance with the Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) adding almost 1.1%.
Large-caps put in a decent day, led by Melco Crown Entertainment (Nasaq:MPEL), which soared almost 13% after Macau reported that monthly gaming revenue jumped in August. Solar stocks enjoyed another solid day with LDK Solar (NYSE:LDK) leading the pack with a gain of almost 7%. Trina Solar (NYSE:TSL) and Suntech Power (NYSE:STP) followed with each adding nearly 3%.
E-House (NYSE:EJ) rallied more than 5% while Ctrip.com (Nasdaq:CTRP) popped by more than 4%. Mindray Medical (NYSE:MR) saw some bullish action as well, gaining 3.76% on the day. Airlines were mixed as China Eastern (NYSE:CEA) gained 2.57%, but China Southern (NYSE:ZNH) slipped half a percent.
VanceInfo Technologies (NYSE:VIT) and China Unicom (NYSE:CHU) round out the winners, each gaining more than 2%.
The losers were once again quite tolerable as Synutra (Nasdaq:SYUT) resumed its bearish ways, dipping 4% to be the day's biggest large-cap loser. PerfectWorld (Nasaq:PWRD) led online gaming firms down with a loss of 3.11%. Giant Interactive (NYSE:GA) followed with a drop of 1.31% and NetEase.com (Nasdaq:NTES) lost three-quarters of a percent.
Oil names were weak on the day as Sinopec Shanghai Petrochemcial (NYSE:SHI) lost more than 1% and Cnooc (NYSE:CEO) gave up more than two-thirds of a percent. Sina (Nasdaq:SINA) and Semiconductor Manufacturing International (NYSE:SMI) each slipped by almost 1%.
We find plenty of the usual suspects among the small-cap winners. China TechFaith Wireless (Nasdaq:CNTF) led the way with a pop of almost 9%. BMP Sunstone (Nasdaq:BJGP) added almost 7% and China Technology (Nasdaq:CTDC) rallied more than 6%. ChinaCast Education (Nasdaq:CAST) surged nearly 6% on no news.
Qiao Xing Universal (Nasdaq:XING) surged nearly 5.5% while China Medical Technology (Nasdaq:CMED) and China BAK Battery (Nasdaq:CBAK) each added more than 4%. Despite news that Beijing will not ease real estate curbs, Xinyuan Real Estate (NYSE:XIN) tacked on almost 4%. ShengdaTech (Nasdaq:SDTH) added 3.4% on light volume and eLong (Nasdaq:LONG) gained 3.3% to round out the small-cap winners.
China Green Agriculture (NYSE:CGA) led the losers with a drop of almost 6%. HQ Sustainable Maritime Industries (AMEX:HQS) followed with a loss of more than 3%. WSP Holdings (NYSE:WH) joined its large-cap oil counterparts in the red column, shedding 2.8% on the day. Noah Education (NYSE:NED) lost nearly the same amount.
Xinhua Sports & Entertainment (Nasdaq:XSEL) continues to be a favorite target of the bears, losing another 2.65% today. Gushan Environmental (NYSE:GU) tumbled 2.5% while Sinovac Biotech (Nasdaq:SVA) and The9 Ltd. (Nasdaq:NCTY) each slipped by more 2%. China Housing & Land Development (Nasdaq:CHLN) and Nam Tai Electronics (NYSE:NTE) round out the small-cap losers as each dropped almost 2% apiece.