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China ADR Wrap October 28, 2010

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advance9 October 28, 2010 (Chinavestor) – Thursday was a slow day for both Chinese and U.S. stocks as both sets of global giants appeared to be taking a breather heading into next week's mid-term election and Federal Reserve meeting. The Hang Seng Index (INDEXHANGSEG:.HSI) was a standout and that is saying something as the index gained just 0.2%. Both the Dow Jones Industrial Average and the Shanghai Composite (SHA:000001) lost 0.1% on the day.

Shocking story of the day: China Grentech (Nasdaq:GRRF) jumped 60% under HUGE volume, after winning a bid to supply equipment to China Mobile (NYSE:CHL).  Another small cap, BMP Sunstone (Nasaq:BJGP) advanced following news that the company is a target by Sanofi.

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It was a mixed day for our trio of China-specific ETFs. The PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) both added about 0.1, but the Guggenheim China Small Cap ETF (NYSE:HAO) was taken to task, losing almost 1% on strong volume.

Among the large-caps, it was a pretty tame day. Perfect World (Nasdaq:PWRD) led the winners with a 6% surge whike LDK Solar (NYSE:LDK) gets the silver medal for a gain of 4.3%. China Eastern Airlines (NYSE:CEA) and Melco Crown Entertainment (Nasdaq:MPEL both gained over 3%.

Cnooc (NYSE:CEO) popped 2.45% thanks to an impressive revenue report. Aluminum Corp. of China (NYSE:ACH) and AsiaInfo Linkage (Nasdaq:ASIA) both jumped by about 2.5%. Guangshen Railway (NYSE:GSH) was the only other large-cap to gain more than 2%. Giant Interactive and Silvercorp Metals (NYSE:SVM) each tacked on 1.8% to cap the winners.

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The biggest loser was China Yuchai International (NYSE:CYD) , which shed 5.6%. China Southern (NYSE:ZNH) couldn't follow its rival higher and slipped by almost 5.5%. Changyou.com (Nasdaq:CYOU) slipped by 2.4% while Netease.com (Nasdaq:NTES) and City Telecom (Nasdaq:CTEL) both lost more than 2%.

China Real Estate Investment (Nasdaq:CRIC) gave up 1.9%, but WuXi PharmaTech (NYSE:WX) and Sina (Nasdaq:SINA) were the only other large-caps to lose more than 1%. E-House (NYSE:EJ) completes the losers list with a drop of 0.8%.

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In the “Simply Stunning” category we have China Grentech (Nasdaq:GRRF) which surged more than 60% on volume that was well over 50 times the daily average on news that the company won a bid to supply equipment to China Mobile (NYSE:CHL). BMP Sunstone (Nasaq:BJGP) shot up 28% on amazing volume as well on news that French pharma giant Sanofi Aventis (NYSE:SNY) will acquire the Chinese company.

China Nepstar Chain Drugstore (NYSE:NPD) surged almost 11% while China Sky One Medical (Nasdaq:CSKI) added almost 10%. China Technology Development (Nasdaq:CTDC) popped by 6.4% while AirMedia (Nasdaq:AMCN) was the only other small-cap to gain more than 5% today. China Gerui Advanced Materials (Nasdaq:CHOP) jumped 4.9% and Agria (NYSE:GRO) added 4.8% China Natural Resources (Nasdaq:CHNR) gained 4.5% and China BAK Battery (Nasdaq:CBAK) rounds out the winners with a pop of 3.76%.

There were no disasters among small-cap losers, but there were some decent tumbles, led by a 9.3% loss for VisionChina Media (Nasdaq:VISN). ATA Inc. (Nasdaq:ATAI) and Chindex (Nasdaq:CHDX) both slipped by over 7%. China Architectural Engineering (Nasdaq:CAEI) gave up more than 6% while China Digital TV (NYSE:STV) shed 5.7%.

Qiao Xing Universal (Nasdaq:XING) was the only other small-cap to endure a loss of more than 4% while China TransInfo (Nasdaq:CTFO) and Wonder Auto (Nasdaq:WATG) both shed more than 3%. China Green Agriculture (NYSE:CGA) lost nearly 3% and China Infrastructure Investment (Nasdaq:CIIC) is the last of the losers with a 2.55% drop.



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