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China ADR Wrap October 5, 2010

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advance5 October 5, 2010 (Chinavestor) – Pick your poison, in a good way of course. Whether it was an interest rate cut in Japan. (Who knew that Japan's rates were above zero?) Or some positive economic data in the U.S., Chinese and U.S. stocks spent Tuesday in the green and surged higher. The Hang Seng booked a small gain while the Shanghai Composite was closed for a holiday. Here in the States, all three major U.S. indexes finished the day higher, led by a gain of almost 200 points for the Dow Jones Industrial Average. Twenty-nine of the Dow's 30 members advanced on the day. American Express (NYSE:AXP) was the lone laggard.

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It was a stellar day for our trio of China-specific ETFs as the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the Guggenheim China SmallCap ETF (NYSE:HAO) were both up about 1.9% while the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) popped by 2.1%.

Looking at Chinese large-caps, Baidu (Nasdaq:BIDU) and China Life Insurance (NYSE:LFC) both added close to 7% to lead the winners. Silvercorp Metals (NYSE:SVM) gained 4.6% on the day. Focus Media (Nasdaq:FMCN) and Semiconductor Manufacturing International (NYSE:SMI) both rallied by more than 3% while China Yuchai International (NYSE:CYD) jumped exactly 3%.

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Sinopec Shanghai Petrochemical (NYSE:SHI) and Synutra (Nasdaq:SYUT) both added just under 3%. Sohu.com (Nasdaq:SOHU) and Home Inns & Hotels Management (Nasdaq:HMIN) both jumped by more than 2.7% to round out the big winners among large-caps.

One of the benefits of a strong rally like the one we saw today is that it makes hard to find big losers and that is exactly the case with Chinese large-caps. The worst of the lot is New Oriental Education (NYSE:EDU), which slipped by just 3.8%. Netease.com (Nasdaq:NTES) shed 2.88% while China Real Estate Investment (Nasdaq:CRIC) and Suntech Power (NYSE:STP both lost more than 1%. 51job (Nasdaq:JOBS) is the final noteworthy loser, dropping by just under 1% on the day.

It was a surprisingly tame for Chinese small-caps as the biggest winner was Global Sources (Nasdaq:GSOL) with a jump of almost 9%. Chindex International (Nasdaq:CHDX) followed with a gain of nearly 6.6%. Xinyuan Real Estate (NYSE:XIN) and China TechFaith Wireless (Nasdaq:CNTF) both added 5.75%. Gushan Environmental (NYSE:GU) surged 5.65% on the day.

Zhongpin (Nasdaq:HOGS) soared by nearly 5%. ShengdaTech (Nasdaq:SDTH) jumped by 4.45%. China Architectural Engineering (Nasdaq:CAEI), China Information Technology (Nasdaq:CNIT) and Sinovac Biotech (Nasdaq:SVA) all gained more than 3.7% but less than 4% to round out the small-cap winners.

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The small-cap losers were tolerable today. Noah Education (NYSE:NED) was easily the worst of that lot, plunging almost 11% on the day. After that, there were really no big losers. China Infrastructure Investment (Nasdaq:CIIC) was next in line with a loss of 4.3%. Tiens Biotech (AMEX:TBV) dropped 3.85% while Agria (NYSE:GRO) gave up 3.5%. AirMedia (Nasdaq:AMCN) lost just over 3%.

Fuqi International (Nasdaq:FUQI) and China Medical Technologies both lost more than 2%. VisionChina Media (Nasdaq:VISN) and Winner Medical (Nasdaq:WWIN) each dipped by just under 2%. China Sky One Medical (Nasdaq:CSKI) is the last member of the losers list with a decline of 1.46%.



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