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China ADR Wrap October 6, 2010

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risk_1 October 6, 2010 (Chinavestor) – While the Shanghai Composite (SHA:000001) remains closed for holiday celebrations, the Hang Seng again picked up the slack on Wednesday, jumping more than 1% on the day. It was a mixed bag for the major U.S. indexes as the Dow Jones Industrial Average booked a small gain, but the Nasdaq and S&P 500 each settled slightly lower. Our trio of China-specific ETFs had a rough day as all finished the day in the red. The iShares/FTSE Xinhua China 25 Index (NYSE:FXI) an the Guggenheim China SmallCap ETF (NYSE:HAO) both lost about a tenth of a percent while the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) lost nearly 1%.

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Looking at Chinese large-caps, it was a good day for solar stocks, led by a jump of almost 8% for JA Solar (Nasdaq:JASO). Yingli Green Energy (NYSE:YGE) and Suntech Power (NYSE:STP) both added about 1.5% and LDK Solar (NYSE:LDK) added more than 1% on the day.

Shanda Games (Nasdaq:GAME) was the next biggest large-cap winner, with a pop of 4.1%. China Yuchai International (NYSE:CYD) added almost 3% while Changyou.com (Nasdaq:CYOU) and Semiconductor Manufacturing International (NYSE:SMI) each gained about 2.5%. Synutra (Nasdaq:SYUT) was the only other large-cap to gain more than 2% on the day. Cnooc (NYSE:CEO) is our last noteworthy large-cap winner with a pop of almost 1.3%.

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The losers weren't too bad today. 51job (Nasdaq:JOBS) and Baidu (Nasdaq:BIDU) both slipped by more than 4% to lead the losers. Sina (Nasdaq:SINA) gave up 3.8%. It was a glum day for Chinese travel and leisure names as China Southern Airlines (NYSE:ZNH) lost about 3.3% while rival China Eastern Airlines (NYSE:CEA) gave up almost 3%. Ctrip.com (Nasdaq:CTRP) dropped by more than 3% as well.

Home Inns & Hotels Management (Nasdaq:HMIN) and VanceInfo Technologies (NYSE:VIT) each shed more than 3%, NetEase.com (Nasdaq:NTES) and New Oriental Education (NYSE:EDU) round out the losers with declines of more than 2.8% each.

Among Chinese small-caps, Xinyuan Real Estate (NYSE:XIN) was a curious winner, surging almost 17% on volume that was better than six times the daily average, but there was no news to explain the move. China Housing & Land Development (Nasdaq:CHLN) followed with a gain of 7.88% and that's exactly how much AirMedia (Nasdaq:AMCN) added on the day.

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Xinhua Sports & Entertainment (Nasdaq:XSEL) also was higher by more than 7% while Gushan Environmental (NYSE:GU) gained more than 6%. China Sky One Medical (Nasdaq:CSKI) jumped by nearly 5% while China Sunergy (Nasdaq:CSUN) and China Agritech (Nasdaq:SEED) both added more than 4.5%.

China Green Agriculture (NYSE:CGA) popped by 3.6% and Qiao Xing Universal (Nasdaq:XING) rounds out the winners with a gain of almost 3.4%.

The small-cap losers were manageable on Wednesday as the worst of the lot was China Digital TV (NYSE:STV), which tumbled by just 3.8%. China Precision Steel (Nasdaq:CPSL) followed with a drop of 3.7%. American Dairy (NYSE:ADY) slipped by almost 3.4%.

UTStarcom (Nasdaq:UTSI) gave up nearly 2.9% and eLong (Nasdaq:LONG) dropped by 2.5%. Fuqi International (Nasdaq:FUQI) and Wonder Auto (Nasdaq:WATG both lost more than 2%. Advanced Battery (Nasdaq:ABAT), China Integrated Energy (Nasdaq:CBEH) and Noah Education (Nasdaq:NED) all lost more than 1.9%, but less than 2% to cap Wednesday's losers.



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