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China ADR Wrap September 15, 2010

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advance4 September 15, 2010 (Chinavestor) – It was another mixed day for Chinese and U.S. stocks as the news of the day came out of Japan thanks to plans by the Bank of Japan to intervene in currency markets to weaken the yen. The Hang Seng Index (INDEXHANGSENG:.HSI) booked a small gain on the day while the Shanghai Composite (SHA:000001) tumbled 1.34%. Investor reaction in the States to the yen news seemed apathetic as the Dow Jones Industrial Average gained just 46 points.

Looking at our trio of China-specific ETFs, the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ), the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) and the Claymore/AlphaShares China SmallCap ETF (NYSE:HAO) all succumbed to small losses on the day. Not surprisingly, HAO was the “best” performer of the group.

Key stocks of the day: Fuqi International (Nasdaq:FUQI) and Noah Education (NYSE:NED) among small caps and China Eastern Airlines (NYSE:CEA), E-House (NSYE:EJ) and Synutra (Nasdaq:SYUT) from stocks with market cap over $500 million.

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It was another lethargic day for Chinese large caps as China Eastern Airlines (NYSE:CEA) was the “big” winner, adding just about 4%. E-House (NSYE:EJ) followed with a gain of 3.7% and Synutra (Nasdaq:SYUT) was the only other large-cap to gain more than 3% today.

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There was some moderate strength among Internet names as Sina (Nasdaq:SINA) jumped 2.8%, Sohu.com (Nasdaq:SOHU) added 2.6% and Ctrip.com (Nasdaq:CTRP) moved higher by 1.37%. Changyou.com (Nasdaq:CYUO) was part of the fun as well, adding 1.17%.

51Job (Nasdaq:JOBS) and CNinsure (Nasdaq:CISG) were the only other Chinese large-caps to gain more than 2%, adding 2.7% and 2.5%, respectively. New Oriental Education (NYSE:EDU) rounds out the large-cap winners with a jump of almost 1.7%.

Just as there were no big winners, there weren't any big losers either. Yingli Green Energy (NYSE:YGE) was the worst of the lot, shedding 3.7%. Trina Solar (NYSE:TSL) fell in sympathy, losing 1.3%. It was a rough day for commodities issues as Aluminum Corp. of China (NYSE:ACH) slid 2% and Sinopec Shanghai Petrochemical (NYSE:SHI) lost 1%. Sinopec (NYSE:SNP) was also down by about three-quarters of a percent.

Telecom offered no shelter with China Unicom (NYSE:CHU) sliding almost 1.7% and China Mobile (NYSE:CHL) losing 0.74%. Home Inns & Hotels Management (Nasdaq:HMIN) slid less than 1% while Semiconductor Manufacturing International (NYSE:SMI) and NetEase.com (Nasdaq:NTES) were the only other Chinese large-caps to lose more than 1% on the day.

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Predictably, small caps were a bit more exciting, led by a gain of almost 22% for Fuqi International (Nasdaq:FUQI), which announced the opening of a new showroom in Shenzhen. Volume in the stock was nearly five times the daily average. Noah Education (NYSE:NED) was the next-best small-cap winner with a gain of just 5.3%.

It was a decent day for agriculture names with Agria (NYSE:GRO) jumping almost 4.7% and AgFeed Industries (Nasdaq:FEED) following with a gain of 4.1%. eLong (Nasdaq:LONG) was the only other Chinese small-cap to add more than 4% today.

China Grentech (Nasdaq:GRRF), General Steel (NYSE:GSI) and HQ Sustainable Maritime Industries (AMEX:HQS) all jumped more than 3%. UTStarcom (Nasdaq:UTSI) and ChinaCast Education (Nasdaq:CAST) round out the small-cap winners, each moving higher by more than 2.5%.

The small-cap losers were tolerable once again. China Architectural Engineering (Nasdaq:CAEI) was the king of this group, losing 6.2%. The bears got back into Xinhua Sports & Entertainment (Nasdaq:XSEL), forcing that name lower by 5.7%. China Gerui Advanced Materials (Nasdaq:CHOP) was the only other small-cap to lose more than 4%, sliding by 4.8% on the day.

China BAK Battery (Nasdaq:CBAK) slipped by nearly 4% while AirMedia (Nasdaq:AMCN) and WSP Holdings (NYSE:WH) were the only other small-caps to lose more than 3%. China Precision Steel (Nasdaq:CPSL) and China TransInfo (Nasdaq:CTFO) both shed about 2.7%. Qiao Xing Universal (Nasdaq:XING) gave up 2.6% and Actions Semiconductor (Nasdaq:ACTS) tumbled 2.4% to round out the small-cap decliners.



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