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China ADR Wrap October 15, 2010

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decline_7 October 15, 2010 (Chinavestor) – Fridays can be kind of dull, but this options expiration Friday was not lacking for excitement. The Shanghai Composite (SHA:000001) surged more than 3% on the day while the Hang Send endured a small loss. In the U.S., financials weighed on the Dow Jones Industrial Average leading that index to a loss and preventing the S&P 500 from making anymore than a modest gain, but the Nasdaq surged thanks to Google's (Nasdaq:GOOG) earnings report.

Key ETFs for the day included PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and iShares/FTSE Xinhua China 25 Index (NYSE:FXI) for large cap China ADR proxy plus the Guggenheim China SmallCap ETF (NYSE:HAO) for small cap China ADRs.

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It was a solid day for our trio of China-specific ETFs with the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) gaining almost half a percent and the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) and the Guggenheim China SmallCap ETF (NYSE:HAO) each adding almost 0.7% on the day.

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Looking at the large-caps, it was another strong day for Chinese airlines with China Southern (NYSE:ZNH) leading the winners with a 7.3% gain. China Eastern (NYSE:CEA) followed with a gain of almost 3%.

There was some strength in Internet-related names as well with Sohu.com (Nasdaq:SOHU) jumping almost 5.4%. Ctrip.com (Nasdaq:CTRP) and Sina (Nasdaq:SINA) each popped by about 3% while Netease.com (Nasdaq:NTES) gained 2.7%. Sinopec (NYSE:SHI) surged 5.2%. Perfect World (Nasdaq:PWRD) and Semiconductor Manufacturing International (NYSE:SMI) each added about 1.7% and VanceInfo Technologies (NYSE:VIT) rounds out the winners with a gain of 1.5%.

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Looking at the losers, it was a bloody day for solar stocks. Trina Solar (NYSE:TSL) plunged 9% to lead the losers while JA Solar (Nasdaq:JASO) shed 7.5%. LDK Solar (NYSE:LDK) dropped 4.2% while Suntech Power (NYSE:STP) gave up almost 6%. Yingli Green Energy (NYSE:YGE) was the “best” of the lot, losing “just” 3.2%.

Home Inns & Hotels Management (Nasdaq:HMIN), Synutra (Nasdaq:SYUT) and 51job (Nasdaq:JOBS) all lost more than 2% on the day. Cnooc (NYSE:CEO) and Melco Crown Entertainment (Nasdaq:MPEL) each lost about 1.6% to round out the losers.

Small-caps did offer some excitement today, though not much. China Biotics (Nasdaq:CHBT) jumped almost 13% on volume that was about double the daily average. GigaMedia (Nasdaq:GIGM) followed with a pop of 8.25%. Rino International (Nasdaq:RINO) and Jinpan (NYSE:JST) both moved higher by more than 5%.

HQ Sustainable Maritime Industries (AMEX:HQS) added nearly 5% while ShengdaTech (Nasdaq:SDTH) surged almost 4%. China Precision Steel (Nasdaq:CPSL) and KongZhong (Nasdaq:KONG) both added more than 3%. China TechFaith Wireless (Nasdaq:CNTF) jumped 2.8% while China Nepstar Chain Drugstore (NYSE:NPD) added 2.7% to round out the winners.

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The small-cap losers weren't too bad on Friday. Noah Education (NYSE:NED) led that group with a decline of 9% as for-profit education stocks remain under pressure. China Technology (Nasdaq:CTDC) gave up almost 7% on the day. AirMedia (Nasdaq:AMCN), China Green Agriculture (NYSE:CGA) and China Natural Resources (Nasdaq:CHNR) all shed more than 5%.

UTStracom (Nasdaq:UTSI) slipped by 4.7%. China Geru Advanced Materials (Nasdaq:CHOP) shed almost 4% while China BAK Battery (Nasdaq:CBAK) lost 3.3%. Gushan Environmental Energy (NYSE:GU) shed almost 3% and China Housing & Land Development dropped 2.6% to cap the Friday losers.



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