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 0.9% and 0.5%, respectively, while the Shanghai Composite Index gained 5.3%. India's Nifty Index declined 1.0% and Brazil's Bovespa Index added 2.7%.
China: Winners and Losers
Among China's top ADRs,
China Technology Development Group
gained 27.4% after the company announced an agreement with
China Technology Solar Power Holdings
to develop a 100MW solar project in China and terminated plans to acquire the company. "We are pleased to change our role from a potential acquirer to a strategic partner and supplier of CTSP. Both parties will benefit from strategic cooperation in respect of designing of and research on the grid-connected solar plant," Alan Li, Chairman and CEO of CTDC said. CTDC manufactures solar energy products including base plates of thin film solar cells, solar illuminating lamps, solar packs for battery recharging, and solar decorating products.
New Oriental Energy & Chemical
gained around 25.6%, 25.0%, and 24.1%, respectively. On Friday,
Needham & Co.
reiterated the buy rating on Yucheng Technologies, while
Brean Murray Carret
reaffirmed the buy rating on KongZhong on Tuesday. On Oct. 7, KongZhong announced signing a publishing agreement with
World of Tanks
, a free-to-play highly popular multi-player online auction game.
gained around 23.7% past week after the agreement with
for manufacturing Sunways solar modules. LDK manufactures multi-crystalline solar wafers.
Major losers included
Duoyuan Global Water
, down 47.0% and 10.3%, respectively. Duoyuan's decline came despite the upgrade to neutral from underweight at
Noah Education Holdings
shed around 6.8% and 6.0%, respectively.
India: Winners and Losers
Indian ADRs trading on the NYSE and NASDAQ added about $1.76 billion to their cumulative market capitalization for the week ended Oct. 15, with
(WIT - Get Report)
valuation increasing by $2.13 billion to $40.66 billion. Meanwhile,
Dr. Reddy's Laboratories
gained around $211 million and $174 million, respectively.
, a leading provider of global business process outsourcing, emerged top gainer by percentage, up 7.2%. Wipro,
Patni Computer Systems
gained around 5.5%, 4.9%, and 3.8%, respectively.
declined around 1.3%, 1.2%, and 0.44%, respectively.
Brazil: Winners and Losers
Among Brazilian ADRs,
Centrais Eletricas Brasileiras (Eletrobras)
(EBR - Get Report)
was up 13.7% past week. The stock has been on a roll recently as it
jumped 7.4% the week before
. The company is in talks with China's state grid utility to build generating capacity in the country,
reports, citing Estado de S. Paulo newspaper.