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China ADR Wrap September 16, 2010

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flu_1 September 16, 2010 (Chinavestor) – Thursday was another sticky day for Chinese stocks as Beijing reiterated its stance that lending curbs are necessary to cool property prices. Those comments sent the Hang Seng lower by a tad, but the Shanghai Composite Index (SHA:000001) tumbled almost 2%. In the U.S., stocks opened weaker due to a disappointing profit report from FedEx (NYSE:FDX), but the Dow Jones Industrial Average (INDEXDJX:.DJI) was able to eke a gain of 0.2% on the day.

Key stocks of the report include Sina Corp. (NASDAQ:SINA), 51job Inc. (NASDAQ:JOBS) and Home Inns & Hotels Management (NASDAQ:HMIN) among larger stocks and FUQI International (NASDAQ:FUQI) and Sinovac (NASDAQ:SVA) among smaller names.

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It was a mixed day for our trio of China-specific ETFs as the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) booked a small gain, but both the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) and the Claymore/AlphaShares China SmallCap ETF (NYSE:HAO) both slid by more than half a percent.

Sina (Nasdaq:SINA) led the large-cap winners with a surge of almost 10% on volume that was roughly five times the daily average. Options volume was even more impressive in Sina (Nasdaq:SINA) as more than 18,000 contracts traded compared to average daily trade of about 800 contracts. Almost all of today's trade was on the call side.

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51Job (Nasdaq:JOBS) soared 8.2% while China Real Estate Investment (Nasdaq:CRIC) and Melco Crown Entertainment (Nasdaq:MPEL) both added more than 7.5%. Huaneng Power was the only other Chinese large-cap to gain more than 4%. Changyou.com (Nasdaq:CYOU) popped by 2.5%. Longtop Financial (NYSE:LFT) and Sinopec Shanghai Petrochemical (NYSE:SHI) both gained around 1%.

Solar stocks were mixed on the day with JA Solar (Nasdaq:JASO) gaining 1.8% and Yinglie Green Energy (NYSE:YGE) booking a small gain, but Suntech Power (NYSE:STP) missed out on the fun, dropping almost 1.5%.

The losers were again pretty easy to handle as Home Inns & Hotels Management (Nasdaq:HMIN) was the worst of the lost, shedding 3.7%. Perfect World (Nasdaq:PWRD) and Synutra (Nasdaq:SYUT) were the only other Chinese large-caps to lose more than 2.4% on the day while Semiconductor Manufacturing International (NYSE:SMI) was the only other large-cap to lose more than 2%.

China Southern (NYSE:CEA) and Mindray Medical (NYSE:MR) each slipped by about 1.7% while CNinsure (Nasdaq:CISG) and Focus Media (Nasdaq:FMCN) both shed around 1.5% to close out the large-cap losers.

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Per usual, small-cap winners were more exciting than their large-cap brethren. Fuqi International (Nasdaq:FUQI) built on Wednesday' big gains by adding another 15% today on volume that was about nine times the daily average. The jewelry retailer is up almost 40% in the past two days.

WSP Holdings (NYSE:WH) added almost 7% despite another down day for oil futures. It was a solid day for agriculture names as China Green Agriculture (NYSE:CGA) popped by more than 4% and AgFeed Industries (Nasdaq:FEED) surged by almost 5.7%.

China BAK Battery (Nasdaq:CBAK) was the only other small-cap to gain more than 3.5%. China Sky One Medical (Nasdaq:CSKI) and VisionChina Media (Nasdaq:VISN) both added more than 3%.

American Dairy (NYSE:ADY) and China Fire & Security (Nasdaq:CFSG) round out the small-cap winners with gains of 2.5% and 2.3%, respectively.

The small-cap losers were again palatable as Sinovac Biotech (Nasdaq:SVA) and Gushan Environmental (NYSE:GU) were the only members of the group to shed more than 5.5%. China Technology (Nasdaq:CTDC) was the only other Chinese small-cap to lose more than 5% on the day.

Xinhua Sports & Entertainment (Nasdaq:XSEL) was back to its bearish ways again, tumbling 4.3%. China Integrated Energy (Nasdaq:CBEH) slipped by 3.8% while Advanced Battery (Nasdaq:ABAT) gave up 3.7%.

China Medical Technologies (Nasdaq:CMED) and Zhongpin (Nasdaq:HOGS) each lost more than 3%. A-Power Energy Generation (Nasdaq:APWR) and Xinyuan Real Estate (NYSE:XIN) round out the decliners with losses of 2.8% and 2.6%, respectively.



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