Looking at our trio of China-specific ETFs, it was a day for the large-caps as both the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the iShares/FTSE Xinhua China 25 Index (NYSE:XI) gained over 1%. The Guggenheim China SmallCap ETF (NYSE:HAO) lagged, gaining just 0.13% on the day.
Chinese small caps caught fire; Gushan Environmental Energy (NYSE:GU) led China Integrated Energy (NASDAQ:CBEH) higher; Agria Corp. (NYSE:GRO) rose 16 percent following a public statement clearing its names. News sent smaller cap AgFeed Industries (NASDAQ:FEED) and others from the sector soaring.
It was a pretty benign day for Chinese large-caps, but AsiaInfo Linkage (Nasdaq:ASIA), put on a show, surging more than 7% on the day. 51Job (Nasdaq:JOBS) added almost 5% while China Southern (NYSE:ZNH) was up by nearly 4%. China Yuchai International (NYSE:CYD) jumped 2.6%.
China Life Insurance (NYSE:LFC) and Melco Crown Entertainment (Nasdaq:MPEL) each popped by more than 2.3%. Yanzhou Coal (NYSE: YZC) had a decent day, adding almost 2% while Sina (Nasdaq:SINA) and Silvercorp Metals (NYSE:SVM) each tacked on about 1.8%. China Unicom (NYSE:CHU) rounds out the large-cap winners with a pop of 1.7%.
The losers show us one thing: It wasn't a good day to be an energy stock, alternative or traditional. JA Solar (Nasdaq:JASO) slipped by 4.1% while Yingli Green Energy (NYSE:YGE) dropped 3.4%. Trina Solar (NYSE:TSL) lost almost 1.6% while LDK Solar (NYSE:LDK) dropped 1.3%. Sinopec Shanghai Petrochemical was one oil name not offering a place to hide as that stock lost nearly 1%.
CNinsure (Nasdaq:CISG) was the biggest large-cap loser today, slipping by 4.6%. New Oriental Education (NYSE:NED) followed with a drop of 2%. Semiconductor Manufacturing International (NYSE:SMI) dipped by 1.4% while Ctrip.com (Nasdaq:CTRP) and Shanda Interactive (Nasdaq:SNDA) cap the losers, each a with a decline of roughly 1%.
Small-caps is where the action was, led by Fuqi International (Nasdaq:FUQI). The jewelry retailer surged almost 29% on volume that was nearly five times the daily average on no headlines of consequence. Gushan Environmental (NYSE:GU) soared almost 26% on volume that was nearly 10 times the daily average after the company announced a share buyback plan.
We just published our Newsletter on October 1 saying that "High energy prices failed to lift oversold Gushan Environmental Energy (NYSE:GU) and China Integrated Energy (NASDAQ:CBEH) so far, suggesting upside potential exceeds downside risk. Both bio-diesel producers were among the worst performers in September but speculative investors might want to give them a second look." Challenges and Opportunities for the Fall of 2010—Part II
China Integrated Energy (Nasdaq:CBEH) jumped by more than 22% on better than quadruple its average daily turnover. China Agritech (Nasdaq:CAGC) popped by 15.5% after issuing a statement saying short-sellers are punishing the stock. That sparked other ag stocks as Agria (NYSE:GRO) surged by 16%, AgFeed (Nasdaq:FEED) jumped by almost 13% and Origin Agritech (Nasdaq:SEED) added 7.75%.
General Steel (NYSE:GSI) and Xinhua Sports & Entertainment (Nasdaq:XSEL) both added at least 9%. China Sky One Medical (Nasdaq:CSKI) tacked on almost 9% while China-Biotics (Nasdaq:CHBT) caps the small-cap winners with a gain of nearly 8%.
The losers were nothing to fret about on Friday. AirMedia (Nasdaq:AMCN) and China Digital TV (NYSE:STV) both shed more than 4%. Xinyuan Real Estate (NYSE:XIN) and Tongxin (Nasdaq:TXIC) each lost more than 3%. ATA (Nasdaq:ATAI) and Sinovac Biotech (Nasdaq:SVA) each slipped by just under 3% on the day.
China Medical Technologies (Nasdaq:CMED) gave up 2.7% while China Infrastructure Investment (Nasdaq:CIIC) and China Housing & Land Development (Nasdaq:CHLN) both traded lower by more than 2.2%. 3SBio (Nasdaq:SSRX) rounds out the small-cap losers with a drop of just 1.33%.