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China ADR Wrap October 29, 2010

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run October 29, 2010 (Chinavestor) – October drew to a close with barely a whimper out of Chinese and U.S. equities. The Hang Seng and the Shanghai Composite (SHA:000001) both tumbled by about half a percent while the Dow Jones Industrial Average (INDEXDJX:.DJI) gained 0.04% and the S&P 500 lost the same amount.

Some of the most volatile Chinese ADRs for Friday were China Yuchai International (NYSE:CYD), Simcere Pharmaceutical Group (NYSE:SCR), and  Chindex International (Nasdaq:CHDX) to the upside. China GrenTech (NASDAQ:GRRF) didn't find support after a 60% run yesterday while LDK Solar (NYSE:LDK) fell on sector weakness.

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As far as our trio of China-specific ETFs goes, the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the iShares FTSE/Xinhua China 25 Index (NYSE:FXI) both lost 0.3%, but the Guggenheim China Small Cap ETF (NYSE:HAO) was back to its bullish ways, gaining almost 2% on the day.

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Looking at the large-caps, China Yuchai International (NYSE:CYD) led the way with a gain of almost 6% on strong volume and no news. Melco Crown Entertainment (Nasdaq:MPEL) followed with a gain of 4.5%. Perfect World (Nasdaq:PWRD) was in the mix, gaining just under 4% while New Oriental Education (NYSE:EDU) gained almost 3%.

Select Internet names were strong as Sina (Nasdaq:SINA) gained 2.8% and Ctrip.com (Nasdaq:CTRP) added 2.6%, but Baidu (Nasdaq:BIDU) slipped by nearly 2%. Changyou.com (Nasdaq:CYOU), NetEase.com (Nasdaq:NTES, China Southern Airlines (NYSE:ZNH) and Silvercorp Metals (NYSE:SVM) all popped by more than 2% to round out the winners.

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Despite the solid day for China Southern (NYSE:ZNH), China Eastern (NYSE:CEA) faltered by 3.7%. It was a tough day for solar issues, led by a 5.25% tumble for LDK Solar (NYSE:LDK). Suntech Power (NYSE:STP) and Trina Solar (NYSE:TSL) both lost more than 3.5%. Yingli Green Energy (NYSE:YGE) gave up 3% and JA Solar (Nasdaq:JASO) dropped 2.1%.

China Life Insurance (NYSE:LFC) shed 3.7% while telecom names cap the losers with China Telecom (NYSE:CHA) and China Unicom (NYSE:CHU) both slipping by roughly 2% apiece.

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Compared to Thursday's action, Friday was a calm day for the winners among Chinese small-caps. Chindex International (Nasdaq:CHDX) led the way with a gain of almost 8% on no news. The9 Ltd. (Nasdaq:NCTY) followed with an addition of almost 5%. Gushan Environmental (NYSE:GU) and Qiao Xing Universal (Nasdaq:XING) both jumped more than 4%.

General Steel (NYSE:GSI) and Zhongpin (Nasdaq:HOGS) each tacked on roughly 3.5% on the day. Acorn International (NYSE:ATV) popped by 3.3%. China Architectural Engineering (Nasdaq:CAEI), China Medical Technologies (Nasdaq:CMED) and 3SBio (Nasdaq:SSRX) all added more than 2% to round out the small-cap winners.

The most biggest (and most notable) loser was China Grentech (Nasdaq:GRRF), which plunged 15.6% after Thursday's surge of more than 60%. Noah Education (NYSE:NED) and China Nepstar Chain Drugstore (NYSE:NPD) both lost just under 5% on the day. Sutor Technology (Nasdaq:SUTR) slipped by 4.1%.

China Technology Development (Nasdaq:CTDC), Rino International (Nasdaq:RINO) and VisionChina Media (Nasdaq:VISN) all tumbled by more than 3%. Fuqi International (Nasdaq:FUQI) lost almost 2.9%, Xinhua Sports & Entertainment (Nasdaq:XSEL) dropped by nearly 2.8% and China Gerui Advanced Materials (Nasdaq:CHOP) gave up almost 2.7% to cap the losers.



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