NEW YORK ( TheStreet) -- Two China pharmaceutical stocks China Sky One Medical (CSKI) and Skystar Bio-Pharmaceuticals (SKBI - Get Report) reported robust earnings for the second quarter ended June 30. The stocks gained 4.2% and 11.5%, respectively, on the day the results were announced. Surprisingly, since then, China Sky One Medical has shed 12.8%, while Skystar has declined 16%. As there were no unfavorable developments that took place within these companies, one could imagine that investors preferred exiting the stocks on a rally.This decline compares to the 5% drop of the S&P 500, a 4% decrease in Bank of New York (BNY) China ADR Index, and a 3% fall on the NYSE Arca China Index during the same period. Both BNY and Arca China Index track the performance of China ADRs listed on the U.S. exchange.
Two Undervalued China Pharma Stocks
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