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China ADR Wrap October 19, 2010

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run October 19, 2010 (Chinavestor) – Chinese stocks were able to extend gains even in the face of an interest rate hike from the People's Bank of China as the Shanghai Composite (SHA:000001) shot up almost 1.6% and the Hang Seng Index (INDEXHANGSENG:.HSI) rallied 1.25%. That news combined with another dour performance for financials dragged U.S. stocks lower as the Dow Jones Industrial Average (INDEXDJX:.DJI) booked its worst performance since August, tumbling 165 points, or almost 1.5% on the day. The S&P 500 lost almost 1.6%.

Some of the best stocks for today included Semiconductor Manufacturing International (NYSE:SMI) , Changyou.com (Nasdaq:CYOU) and Longtop Financial (NYSE:LFT). But solar stocks fell apart led by  LDK Solar (NYSE:LDK) and JA Solar (Nasdaq:JASO). Other notable losers included Yingli Green Energy (NYSE:YGE) and Suntech Power (NYSE:STP).

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It was a bloody day for our trio of China-specific ETFs with the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) shedding almost 3% and the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) losing nearly 2.4%. Small-caps were worse as the Guggenheim China SmallCap ETF (NYSE:HAO) plunged 3.5%.

It was such a bad day that there are only four large-cap winners to discuss. Semiconductor Manufacturing International (NYSE:SMI) led the way with a gain of 4.8%. Changyou.com (Nasdaq:CYOU) followed with a gain of 1.8% while Longtop Financial (NYSE:LFT) added 1%. CNinsure (Nasdaq:CISG) managed a gain of almost half a percent to round out the winners.

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Solar names got hammered today with LDK Solar (NYSE:LDK) leading that group lower with a loss of almost 14.4%. JA Solar (Nasdaq:JASO) plunged almost 10.4% while Yingli Green Energy (NYSE:YGE) slipped by 8.6%. Suntech Power (NYSE:STP) and Trina Solar (NYSE:TSL) both lost more than 6%.

China Yuchai International (NYSE:CYD) and Silvercorp Metals (NYSE:SVM) each dropped more than 8%. AsiaInfo-Linkage (Nasdaq:ASIA) lost 6.3% and Focus Media (Nasdaq:FMCN) and Synutra (Nasdaq:SYUT) both tumbled by 5.4% to cap the losers that lost more than 1% on the day. Shanda Interactive (Nasdaq:SNDA) and Giant Interactive (NYSE:GA) were among a large group to lose just under 1% on Tuesday.

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There wasn't much excitement among small-caps in terms of winners as Focus Media (Nasdaq:FMCN) led the way with a gain of almost 5%. AirMedia (Nasdaq:AMCN) followed with a jump of nearly 2%. Jinpan International (NYSE:JST), China Integrated Energy (Nasdaq:CBEH) and Yucheng Technologies (Nasdaq:YTEC) each gained around 1%.

Qiao Xing Mobile (NYSE:QXM) added 0.6% while China Grentech (Nasdaq:GRRF) gained 0.44% and America Dairy (NYSE:ADY) moved higher by 0.3% to cap the winners.

Believe it or not, the small-cap losers weren't too bad today. Xinyuan Real Estate (NYSE:XIN) lost 9% to lead the way. A-Power Energy Generation (Nasdaq:APWR), Fuqi International (Nasdaq:FUQI) and Rino International (Nasdaq:RINO) all lost more than 7% on the day. UTStarcom (Nasdaq:UTSI) was next in line with a loss of 6.6%.

China Sky One Medical (Nasdaq:CSKI) and WSP Holdings (NYSE:WH) both plunged more than 6%. China Technology Development (Nasdaq:CTDC) dipped by 5.9% and China TechFaith Wireless (Nasdaq:CNTF) rounds out the small-cap losers with a dip of 5.4%.



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