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China ADR Wrap September 24, 2010

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strong1 September 24, 2010 (Chinavestor) – What a way to end the week. U.S. markets shook off Thursday's tumble in a big way as the Dow Jones Industrial Average surged almost 2% with all 30 members of the blue-chip index finishing the day in the green. The Shanghai Composite (SHA:000001) was closed again today, but the Hang Seng was open for business and tacked on 0.33%. Economic data was mixed in the States, but stocks advanced to their fourth consecutive weekly gain.

Looking at our trio of China-specific ETF, both the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) and the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) gained more than 2%. The Claymore/AlphaShares China SmallCap ETF (NYSE:HAO) was the “laggard” of the group, adding 1.98%, but HAO also made its way to an all-time high today.

Key large cap stocks of the day: LDK Solar (NYSE:LDK), JA Solar (Nasdaq:JASO) and Yingli Green Enegy (NYSE:YGE) from the solar sector. China Real Estate Investment (Nasdaq:CRIC) remained on fire. New Oriental Education (NYSE:EDU) was a disappointment of the day.

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Solar stocks enjoyed their day in the sun, led by a surge of 7.4% for LDK Solar (NYSE:LDK). JA Solar (Nasdaq:JASO) followed with a gain of 5.7% while Yingli Green Enegy (NYSE:YGE) added 4.3%. China Real Estate Investment (Nasdaq:CRIC) continued its bullish ways, popping by 5.5%.

It was a such a good day that even Synutra (Nasdaq:SYUT) added 5.5%. Semiconductor Manufacturing International (NYSE:SMI) jumped by almost 5%. Ctrip.com (Nasdaq:CTRP) added 4.6% while Guangshen Railway (NYSE:GSH) enjoyed a 4.5% run. E-House (NYSE:EJ) and Yanzhou Coal (NYSE:YZC) both added more than 4%.

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Longtop Financial (NYSE:LFT) gained 1% while Melco Crown Entertainment (Nasdaq:MPEL) and Huaneng Power (NYSE:HNP) fell short of adding 1%, but both names finished the day in the green.

Despite sentiment that was mainly bullish on the day, New Oriental Education (NYSE:EDU) did not participate, plunging almost 12.5% after issuing weak firs-quarter guidance. The bears really sunk their claws into New Oriental (NYSE:EDU) as volume was more than 10 times the daily average. The only other Chinese large-cap losers were City Telecom (Nasdaq:CTEL) and NetEase.com (Nasdaq:NTES), both of which lost less than 1%.

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It was a solid, though not spectacular day for small-caps with UTStarcom (Nasdaq:UTSI) leading the way with a pop of almost 8.6%. China Infrastructure Investment (Nasdaq:CIIC) and Global Sources (Nasdaq:GSOL) both gained more than 6%. VisionChina Media (Nasdaq:VISN) surged 5.8% on the day.

China Fire & Security (Nasdaq:CFSG), Xinhua Sports & Entertainment (Nasdaq:XSEL) and China Sunergy (Nasdaq:CSUN) all gained more than 4.8%, but less than 5%. Chindex (Nasdaq:CHDX) and Sinovac Biotech (Nasdaq:SVA) both added nearly 4.6%. A-Power Energy Generation (Nasdaq:APWR) rounds out the small-cap winners with a pop of 4.3%.

It wasn't a bad day at all for the small-cap losers. Origin Agritech (Nasdaq:SEED) was the only member of that group to lose more than 4%. China Technology (Nasdaq:CTDC) and ChinaEdu (Nasdaq:CEDU) were the only other small-caps to shed more than 3%. Agria (NYSE:GRO), China Information Technology (Nasdaq:CNIT) and Zhognpin (Nasdaq:HOGS) all slipped by more than 1.9% but less than 2%.

China Digital TV (NYSE:STV) lost 1.8% while HQ Sustainable Maritime Industries (AMEX:HQS) tumbled 1.6%. WSP Holdings (NYSE:WH) gave up over 1.5% while Actions Semiconductor (Nasdaq:ACTS) rounds out the losers with a loss of just 0.99%.



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