Emerging Market ADRs Post Gains

NEW YORK (TheStreet) -- Global markets have had a positive week till date. During the last one week, S&P 500 gained 2.5%, Dow Jones is up 2.2%, Brazil's Bovespa gained 0.3%, and India's Nifty Index increased 0.6%. However, Shanghai Composite Index lost 2.8% as growth slowed during the second quarter.

China ADRs that have traded in the positive irrespective of the decline include, China Transinfo Technology(CTFO) which soared 31.3% during the last one week. Average 3-day volume stood at 565,237 shares compared to 52-week average of 218,837 shares. Meanwhile, Fuqi International(FUQI) surged 20.7%. The stock jumped 18% in trade on July 14 on volume of 1.5 million shares compared to 52-week volume of 1.2 million.

Canadian Solar(CSIQ) was up 15.6%. Wells Fargo Securities assigned a outperform rating to the stock on July 15, 2010. General Steel Holdings(GSI) accumulated 15.3%.

Wonder Auto Technology(WATG) gained 12.0%. On July 14, 2010, Roth Capital Partners assigned a buy rating to the stock with price target of $11, implying a 36% upside over current levels. Meanwhile, the company's two wholly owned subsidiaries entered into a conditional purchase and sale agreement with Jin Ying Limited to sell ordinary shares which will represent a 38.4% stake for a consideration of $20.86 million.

Shanda Games(GAME) increased 11.7%. On July 13, Roth Capital Partners assigned a hold rating to the stock with price target of $6.5.

Among Indian gainers, iGate(IGTE) gained 23.6% after the company reported an 83.6% jump in net profit for the second quarter on revenues growth of 42.7%. Sify Technologies(SIFY) accumulated 11.1% during the last one week.

Meanwhile, Tata Communications(TCL) increased 8.1%. Recently, Tata and Google(GOOG) entered into a revenue sharing model to business tools such as e-mail, instant messaging, etc over the Internet using the Google Apps software suite.

Among Brazilian gainers, Gol Linhas Aereas Inteligentes(GOL) gained 8.3% after the company's rating was upgraded to Ba3 and stable by Moody's(MCO) on improving operating performance and its debt issuance. Tam SA(TAM) was up 8%. The company's market share increased 90 basis points month on month to 55.12% in June.

BRF Brasil Foods SA(BRFS) accumulated 5.7% as volumes multiplied more than twice to 1.62 mn in Thursday's trading session. Gafisa SA(GFA) escalated 5.1%. The stock was assigned a neutral rating by Goldman Sachs Group(GS) on July 7, 2010.

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