NEW YORK ( TheStreet) -- During this past week, the S&P 500 gained 3.3%, Dow Jones increased 2.8%, India's Nifty was up 1.4%, China's Shanghai Composite Index was down 3.8%, and Brazil's Bovespa gained 4.6%.
Although the five-day change is positive, there is still a lot of uncertainty surrounding global markets, due to European concerns and policy changes in China. However, we have identified various ADRs -- China, India and Brazil -- that have posted solid gains during the past week.
On May 26, the company revealed that its subsidiary, Fushi International Bimetallic Cable, has signed a definitive agreement to acquire Shanghai Hongtai Industrial, a leading manufacturer of bimetallic wire in Southeast China, in a cash-and-stock deal for approximately $3.9 million.Recently, Jefferies rated the stock a buy with a price target of $16, implying a 50% upside over current levels. Origin Agritech (SEED - Get Report) was one of our picks on May 24 when it was trading at $7.10. The stock has gained 33% since then and 21.6% during the last week. On June 3, the company announced that it acquired an 80% stake in Shandong Kunfeng Biochemical for ~$2 million in order to maximize its portfolio and expand to markets and segments where complete synergies can be achieved. Meanwhile, another China ADR that clocked significant gains was eLONG (LONG) (+23.1%), up the most during the week. The parent company of eLong recently announced that its other subsidiary, Tripadvisor, plans to invest at least $50 million in China by 2011 and would continue to acquire Chinese Internet companies such as online travel media and hotel reservation Web sites. Fuwei Films Holdings (FFHL - Get Report) was up 17.3% after it announced an increase of 18.8% in its revenue for the first quarter ended March 2010. Also, the company swung to a net profit of $286,000 from a reported net loss of $2 million a year ago. Lastly, WSP Holdings (WH - Get Report), Cabot Oil and Gas (COG - Get Report) and China BAK and Battery (CBAK - Get Report) gained 16.4%, 14.7% and 13.6%, respectively. Baidu (BIDU - Get Report) escalated 13.4%. In a recent interview with Samsung securities, the company revealed that Google (GOOG) market share in China has stabilized and expects no major changes to the competitive landscape in the near term. Immediately after that, Samsung securities rated the stock a buy with a price target of $82, implying a 7% upside over current levels.