NEW YORK (TheStreet) -- A few emerging market ADRs outperformed global indices last week, while some others posted losses. The Dow Jones and the S&P 500 were up 1.6%, while the Shanghai Composite Index gained 6.8%, led by metal stocks. Last week, base metals hit five-month highs, with copper climbing to 26-month highs.
China: Winners and Losers
Among China's top ADRs, Gushan Environmental Energy (GU) surged 53% after the company announced signing of agreements to acquire a 67% beneficial ownership interest in Mian Yang Jin Xin Copper, a China-based copper recycling company. On Oct. 8, the company announced a $5 million ADR share repurchase program. Euro Tech Holdings (CLWT) and Xinyuan Real Estate (XIN) gained 19.7% and 17.3%, respectively.
Fuqi International (FUQI) and LJ International (JADE) strengthened 25.3% and 13.4%, respectively, due to growing jewelry demand from middle-class buyers. Fuqi International and LJ International are engaged in the sale of precious metals jewelry and have largely benefited from China's economic growth and the expansion of the middle class.Sinovac Biotech (SVA) surged 13.9% after it became known that Gates Foundation is looking for a vaccine manufacturing tie-up with Sinovac. The outcome could lead to a capital investment of almost $20-$30 million. Major losers for the week included New Dragon Asia (NWD) and Noah Education Holdings (NED), down 20.9% and 16.3%, respectively. China Precision Steel (CPSL) shed 11.7%. The company's fourth quarter net income declined to $1.3 million or 3 cents per share from $2.2 million or 5 cents per share in the year-ago quarter. China Medical Technologies (CMED), down 10.3%, has deferred its $175 million bond offering to investors in Asia, Europe and the U.S. India: Winners and Losers Indian ADRs trading on the NYSE and NASDAQ added about $1 billion to their cumulative market capitalization for the week ended Oct. 8. Tata Communications (SIFY) emerged the gainer, up 7.7%, with market cap expanding by $152.3 million. The company is offering its Indian customers cloud computing services including self-service, pay-as-you-use IT applications, and data center infrastructure services, accessed through the Internet. The company is now planning to turn into a single point-of-contact for users of Google's (GOOG) Google Apps suite of online applications. Emerging as the second gainer in the list, Syntel (SYNT) gained 4.7%. Also, Tata Motors (TTM) accumulated 4.3% with market cap increasing by $495.13 million. The company announced the acquisition of an 80% stake in Trilix Srl, an Italian design and engineering firm, for 1.85 million euros. The acquisition is in line with Tata's objective to enhance its design capabilities to match global standards.
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 Plus 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