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China ADR Wrap September 9, 2010

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advance_8 September 9, 2010 (Chinavestor) – Chinese stocks notched a split decision with the Shanghai Composite (SHA:000001) tumbling almost 39 points to close at 2656.35 while the Hang Seng put in a decent day, adding 78.41 points to settle at 21,167. In the U.S., the Dow Industrial Average scuffled its way to a gain of just over 28 points as investor enthusiasm for the weekly jobless claims number, which was released before the market opened, waned as the trading day went on. Looking at our trio of China-specific ETFs, the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) and the PowerShares Golden Dragon Halter USX China ETF (NYSE:PJG) both notched small gains while the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) surged 1%.

It was another fairly benign day for large-caps. Sohu.com (Nasdaq:SOHU) led the way with a pop of almost 5.6%. Perfect World (Nasdaq:PWRD) followed with a gain of nearly 4.4%. China Eastern (NYSE:CEA) flew to a gain of 3.6% and that helped China Southern (NYSE:ZNH) to an addition of 2.6%.

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Oil prices weren't all that great today, but Sinopec Shanghai Petrochemical (NYSE:SHI) did tack on almost 3%. Synutra International (Nasdaq:SYUT) and WuXi PharmaTech (NYSE:WX) each added over 2%. China Unicom (NYSE:CHU), Focus Media (NYSE:FMCN) and Home Inns & Hotels Management (Nasdaq:HMIN) all gained less than 2% but more than 1.5% to cap the winners.

Among the losers, Shanda Games (Nasdaq:GAME) shed 6% on weak earnings news. The company also announced a $95 million acquisition. Shana Interactive (Nasdaq:SNDA) tumbled 4% on the news. Silvercorp Metals (NYSE:SVM) lost 4.1% on the day.

E-House (NYSE:EJ) slipped by 3.4% and AsiaInfo Linkage (Nasdaq:ASIA) dipped by 2.8% on the day. A couple of solar names were in the red today as JA Solar (Nasdaq:JASO) dropped 1.1% and Yingli Green Energy (NYSE:YGE) lost almost 2.6%.

Melco Crown Entertainment (Nasdaq:MPEL) may be a bit topped out as that name slipped by 2.4%. China Real Estate Investment (Nasdaq:CRIC) and New Oriental Education (NYSE:EDU) each lost more than 1% to round out the large-cap losers.

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American Dairy (NYSE:ADY) led the small-cap winners, surging 19% on better than triple the average daily volume and no news. This may have been an example of some short covering. Sinovac Biotech (Nasdaq:SVA) rallied to a 10% gain on the day, but that couldn't keep China-Biotics (Nasdaq:CHBT) from a loss of more than 3%.

Xinhua Sports & Entertainment (Nasdaq:XSEL) escaped the bears' claws for one day at least, soaring 7.2%. American Oriental Bioengineering (NYSE:AOB), China Housing & Land Development (Nasdaq:CHLN) and Noah Education (NYSE:NED) all added more than 2% on the day. Nam Tai Electronics (NYSE:NTE), Sutor Technology (Nasdaq:SUTR), Winner Medical (Nasdaq:WWIN) and Vimicro International (Nasdaq:VIMC) all added between 1.7% and 1.9% to round out the small-cap gainers.

An SEC investigation is never a good thing, regardless of a company's size and Fuqi International (Nasdaq:FUQI) proved that today. The jewelry retailer plunged more than 24% on almost 10 times the average daily turnover on news that company received an SEC subpoena. Rino International (Nasdaq:RINO) lost 6.2% while Agria (NYSE:GRO) and Acorn (NYSE:ATV) both lost more than 5%.

Origin Agritech (Nasdaq:SEED) slipped by 4.3%. Qiao Xing Universal (Nasaq:XING) lost almost the same amount, probably on yesterday's news that it will acquire the outstanding shares of Qia Xing Mobile (NYSE:QXM). KongZhong (Nasdaq:KONG) also shed more than 4% on the day. ChinaCast Education (Nasdaq:CAST) and eLong (Nasdaq:LONG) dropped 3.45% and 3.68%, respectively, to finish off the small-cap decliners.



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