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China ADR Wrap September 28, 2010

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fishing September 28, 2010 (Chinavestor) – Monday's slack trade in the U.S. transpired into some weakness for Asian equities today as the Hang Seng tumbled 1% and the Shanghai Composite (SHA:000001) slid 0.6%. Weak consumer confidence data and mixed housing reports were not the dark cloud we would have expected in the U.S. as the Dow Jones Industrial Average rose 0.4%. Looking for winners? Try aluminum stocks Chinalco (SHA:601600) shot up 10% in Shanghai while Alcoa (NYSE:AA) gained 1.2% in New York.

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Our trio of China-specific ETFs was mixed today as the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the Guggenheim/AlphaShares China SmallCap ETF (NYSE:HAO) booked small gains while the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) endured a small loss. Please note that all Claymore ETFs have taken the Guggenheim name. Tickers will remain the same.

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Looking at the large-caps, Aluminum Corp. of China (NYSE:ACH) ADRs were the top gainers, popping 5.25% after the company said it is pursuing rare-earth minerals acquisitions. Semiconductor Manufacturing International (NYSE:SMI) followed with a gain of more than 5%. Home Inns & Hotels Management (Nasdaq:HMIN) continued to rally, adding more than 4% on the day.

Focus Media (Nasdaq:FMCN) surged 3.7% and CNinsure (Nasdaq:CISG) jumped 2.4%, but those were the only other Chinese large-caps to add more than 2%. It was a mixed day for solar stocks as Trina Solar (NYSE:TSL) and Yingli Green Energy (NYSE:YGE) both gained nearly 2%, but LDK Solar (NYSE:LDK) plunged almost 5.5%.

China Unicom (NYSE:CHU) added 1.8% after announcing a $1.8 billion convertible bond sale. WuXi PharmaTech (NYSE:WX) popped 1.8% as well and New Oriental Education (NYSE:EDU) gained 1.6% to round out the large-cap winners.

Among the losers, it was a tough day for stocks with Internet exposure. Perfect World (Nasdaq:PWRD) slid more than 4% while rival Changyou.com (Nasdaq:CYOU) tumbled more than 2%. Shanda Games (Nasdaq:GAME) wasn't immune as that name gave up 1.25%. Ctrip.com (Nasdaq:CTRP) and Baidu (Nasdaq:BIDU) lost 1.6% and 1.7%, respectively.

China Eastern Airlines (NYSE:CEA) lost 2% while AsiaInfo Linkage (Nasdaq:ASIA) dropped by almost 1.9%. China Telecom (NYSE:CHA) slid 1.5% while Sinopec Shanghai Petrochemcial completes the list of large-cap losers with a decline of 1.25%.

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It was a surprisingly calm day for small-caps as AgFeed Industries (Nasdaq:FEED) and China Nepstar Chain Drugstrore (NYSE:NPD) were the only stocks in this asset class to gain over 5% and they barely accomplished that feat. China Gerui Advanced Materials (Nasdaq:CHOP) just missed the 5% mark while China TransInfo (Nasdaq:CTFO) jumped 4.5%. China Fire & Security Group (Nasdaq:CFSG) was the only other small-cap to move higher by more than 3%, adding 3.3%.

American Dairy (NYSE:ADY) and Chindex (Nasdaq:CHDX) both popped by about 2.8% while China Technology (Nasdaq:CTDC) and ShengdaTech (Nasdaq:SDTH) each gained around 2.4%. ChinaCast Education (Nasdaq:CAST) added 2.3% to cap the small-cap winners.

There was really only one standout among the small-cap losers and that was Gushan Environmental Energy (NYSE:GU), which slid 20.5% on volume that was better than 10 times the daily average as the shares corrected an overbought condition in a major way. Xinhua Sports & Entertainment (Nasdaq:XSEL) continues to remain in bearish territory, sliding almost 9% on the day.

China Architectural Engineering (Nasdaq:CAEI) was the only other small-cap to lose more than 5% today. Tongxin International (Nasdaq:TXIC) just missed a loss of 5%, tumbling 4.99%. Winner Medical (Nasdaq:WWIN) slipped by 4.2%.

Rino International (Nasdaq:RINO) gave up 3.7% while Tiens Biotech (AMEX:TBV) dropped 3.3%. General Steel (NYSE:GSH) and WSP Holdings (NYSE:WH) showed all was not well with commodities names, shedding more than 3% each. China Infrastructure Investment (Nasdaq:CIIC) rounds out the losers with a drop of 3%.



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