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
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
Xinyuan Real Estate
gained 19.7% and 17.3%, respectively.
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.
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
Noah Education Holdings
, down 20.9% and 16.3%, respectively.
China Precision Steel
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
, 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.
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
(GOOG - Get Report)
Google Apps suite of online applications.
Emerging as the second gainer in the list,
gained 4.7%. Also,
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.