Friday's Asia ADR Recap
Chinese pharmaceutical and biotechnology company WuXi PharmaTech (WX) announced it has filed a registration statement with the Securities and Exchange Commission for a proposed follow-on and secondary public offering of American depositary shares. Securities that will be sold under the offering will include shares held by the company and shares held by other shareholders. Lead underwriters for the secondary will be Credit Suisse Securities and JP Morgan Securities, WuXi said. Shares of WuXi dropped 5.7% on the news to $22.15.
Some big winners among Chinese ADRs Friday were Noah Education (NED), which traded up 9.3% to $6.34; China Natural Resources (CHNR), which advanced by 8% to $21.59; ReneSola (SOL), which added by 8.7% to $12.91; and China Sunergy (CSUN), which finished higher by 8.4% to $9.62.
Be sure to check out the Far East Portfolio at Stockpickr.com every night to find out which stocks in India and China are making big moves and announcing major news.
For more on Asia, check out Daniel Harrison's coverage at TheStreet.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV