October 22, 2010 (Chinavestor) – The end of the week brought little to cheer about for Chinese stocks as both the Shanghai Composite Index (SHA:000001) and the Hang Seng Index (INDEXHANGSENG:.HSI) dealt with small losses. It was a mixed bag in the U.S. as the Nasdaq continued its leadership, but the S&P 500 eked out a small gain while the Dow Jones Industrial Average (INDEXDJX:.DJI) suffered a small set-back.
Key Chinese ETFs or the day included the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ), the Guggenheim China SmallCap ETF (NYSE:HAO) for small caps and the iShares/FTSE China 25 Index (NYSE:FXI)for large caps.
Speaking of small gain, that's exactly what the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) produced, but the Guggenheim China SmallCap ETF (NYSE:HAO) produced a small loss and the iShares/FTSE China 25 Index (NYSE:FXI) slumped by 1%.
Looking at the large-caps, it was a great day to be a Chinese Internet name as Baidu (Nasdaq:BIDU) jumped 4.7% after Thursday's earnings report. Today it was some analyst price target increases helping the stock along. That helped rival Sohu.com (Nasdaq:SOHU) surge 5.2%. New Oriental Education (NYSE:EDU) was next in line with a pop of 4.6%.
Suntech Power (NYSE:STP) was the day's solar leader with a gain of 3.6%. Changyou.com (Nasdaq:CYOU) notched a solid gain of 3.4%. Sina (Nasdaq:SINA), China Southern Airlines (NYSE:ZNH) and VanceInfo Technologies (NYSE:VIT) all added more than 3% on the day. AsiaInfo Linkage (Nasdaq:ASIA) was no slouch with a gain of 2.8% and City Telecom (Nasdaq:CTEL) added 2.7% to cap the winners.
The losers were quite boring today with the worst of the lot being China Telecom (NYSE:CHA), which gave up 2.6%. Both China Telecom (NYSE:CHA) and Aluminum Corp. of China (NYSE:ACH) weighted down the iShares/FTSE China 25 Index (NYSE:FXI) for the day. Aluminum Corp. of China (NYSE:ACH) and E-House (NYSE:EJ) both dropped 2.17%. China Life Insurance (NYSE:LFC) tumbled by almost 1.9% while Sinopec (NYSE:SNP) slipped by 1.8%. The “other” Sinopec, Sinopec Shanghai Petrochemical (NYSE:SHI) lost 1.5%.
LDK Solar (NYSE:LDK) dropped almost 1.7% while Semiconductor Manufacturing International (NYSE:SMI) declined by 1.4%. China Unicom (NYSE:CHU) lost 1.3% and WuXi PharmaTech (NYSE:WX) rounds out the losers with a drop of 0.9%.
It was a pretty benign day for the small-cap winners as well with Gushan Environmental (NYSE:GU) leading the way with a gain of just 9.3%. China Housing & Land Development (Nasdaq:CHLN) popped 6.1%. China Architectural Engineering (Nasdaq:CAEI) and Xinhua Sports & Entertainment (Nasdaq:XSEL) both gained 5% or a bit more.
Tiens Biotech (AMEX:TBV) and Sutor Technology (Nasdaq:SUTR) both added 4.4% while UTStarcom (Nasdaq:UTSI) and AirMedia (Nasdaq:AMCN) both jumped 4.2%. It was a good day on the farm as AgFeed (Nadaq:FEED) surged 3.9% and Zhongpin (Nasdaq:HOGS) added 3.7%.
Friday didn't deliver much in the way of big losers for Chinese small-caps as was reflected in the dismal performence of the Guggenheim China SmallCap ETF (NYSE:HAO). Qia Xing Universal (Nasdaq:XING) was the worst of the lot with a drop of 8%. China Green Agriculture (NYSE:CGA) and HQ Sustainable Maritime Industries (AMEX:HQS) both shed more than 4%. China Grentech (Nasdaq:GRRF) was lower by 3.5% and Chia BAK Battery (Nasdaq:CBAK) also lost more than 3%.
It wasn't a bright day for biotechs as 3SBio (Nasdaq:SSRX) and Sinovac Biotech (Nasdaq:SVA) both shed more than 2%. Xinyuan Real Estate (NYSE:XIN) slipped by almost 1.7% and Origin Agritech (Nasdaq:SEED) tumlbed by 1.6%. China Information Technology (Nasdaq:CNIT) caps the Friday losers with a drop of 1.45%