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Weekly China ADR Wrap November 5

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buy-sell November 5, 2010 (Chinavestor) The DJIA finished slightly higher after a volatile market day on Friday. The index soared 325.59 points or 2.93% for the week as investors reacted to a softer dollar, a result of the FED's $600 war chest buying up more treasuries. Chinese stocks in Asia had a sound Friday as well, the Shanghai Composite Index (SHA:000001) and the Hang Seng Index (INDEXHANGSENG:.HSI) advanced 1.4%, each. Energy, commodity and financial sectors took the lead among Chinese shares in Asia.

Looking at key Chinese ADRs for the day, energy and resource plays outperformed the broad market. The Chinese solar sector got a fundamental boost from ReneSola Ltd. (NYSE:SOL) after reporting sound third quarter financials. Some of the most prominent solar plays rode on the back of ReneSolar's report (NYSE:SOL), such as Suntech Power (NYSE:STP), Yingli Green Energy (NYSE:YGE) and Trina Solar (NYSE:TSL). Yaznhou Coal Mining (NYSE:YZC), the fourth largest Chinese coal miner, performed well while CNinsure Inc. (NASDAQ:CISG) bounced back after a 8.5% drop a day before. But online gamers continued to show weakness; Shanda Games (NASDAQ:GAME) and Changyou.com Inc. (NASDAQ:CYOU) fell hard for the day. Synutra International (NASDAQ:SYUT) tumbled on weak third quarter earnings. China BAK Battery (NASDAQ:CBAK) was the best performing Chinese ADR on Friday thanks to a 16.4% surge.

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Looking at Chinese ADRs over $250 million market cap on Friday, energy stocks dominated the landscape. Solar, oil and coal stocks all advanced to a different degree. Suntech Power (NYSE:STP) got the most out of ReneSolar's third quarter report (NYSE:SOL), surging 5.7% for the day. The rest of the sector was almost as sound, Yingli Green Energy (NYSE:YGE), JA Solar (NASDAQA:JASO) and Trina Solar (NYSE:TSL) all delivering strong returns.

Yanzhou Coal Mining (NYSE:YZC) advanced on strong coal prices just like CNOOC Ltd. (NYSE:CEO). The soft dollar means higher energy and commodity prices, helping these sectors along the way. 

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Synutra International (NASDAQ:SYUT) fell the most among larger Chinese stocks on Friday as net loss widened amid weakening sales for the quarter. Prominent online game companies fell like Shanda Games (NASDAQ:GAME) or Changyou.com Inc. (NASDAQ:CYOU) but NetEase.com Inc. (NASDAQ:NTES) managed to advance. Investors have started a rotation within the sector to position themselves for the earnings season.

Small caps remained volatile along the market. China BAK Battery (NASDAQ:CBAK) soared the most following news that Cherry picked CBAK to supply batteries for its electric car. Gushan Environmental Energy (NYSE:GU), a Chinese bio-diesel producer, advanced 11.34% on the back of China Intergrated's (NASDAQ:CBEH) sound quarterly report a day before. Higher energy prices were also a factor in Gushan's advance but wasn't enough to keep CBEH from giving back some of the gains from Thursday.

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China Green Energy (NYSE:CGA), Jinpan International (NYSE:JST) and UTStarcom (NASDAQ:UTSI) were among the worst ADRs on Friday.



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