Emerging Market ADRs: Winners and Losers
NEW YORK (TheStreet) -- A few emerging market ADRs outperformed global indices last week, while some others posted losses. The Dow Jones fell 0.1%, whereas the S&P 500 inched up 0.01%. The Shanghai Composite Index was down 0.4%, while India's Nifty edged up 0.1%. On the other hand, Brazil's Bovespa emerged as the top gainer, advancing 1.6%.
China ADRs: Winners and Losers
China GrenTech (GRRF), provider of wireless coverage products and services in China, emerged top gainer in the past week, up 29.9%. The company recently won bids to supply equipment and integration services for the China Mobile Multimedia Broadcasting (CMMB) project. Among the 34 bidders, GrenTech won all the 7 bid sections.
BMP Sunstone (BJGP) climbed 26% after Sanofi-Aventis (SNY) reportedly acquired the company for 10 cents per share, valuing the company at $520.6 million, representing a 30% premium over its Oct. 27 closing.China VoIP & Digital Telecom (CVDT) gained 23.1% last week. As part of its branding strategy, the company recently launched its new Web site and changed its name to China Intelligence Information Systems. The motive behind the re-branding is to reflect its new business strategy and the company's image of offering industry-leading server virtualization solutions and cloud computing products in China. Meanwhile, Fuwei Films Holdings (FFHL), Perfect World (PWRD) and China Nepstar Chain Drugstore (NPD) jumped 22.6%, 15.7%, and 13.6% respectively. Sohu.com (SOHU) climbed 13.3%. Last week, the company reported a 20% year-on-year increase in its third-quarter revenue to $164.1 million, with online gaming revenues gaining the maximum of 25%. Net profit increased to $41 million, or $1.08 per share, from $37.4 million, or 97 cents per share, recorded in the year-ago period. China Shen Zhou Mining & Resources (SHZ) plunged 29.7%, after reports showed that the company does not meet the criteria of having a market cap exceeding $150 million and, therefore, does not qualify to be included in the new Rare Earth Metals ETF being launched by Van Eck. China Green Agriculture (CGA) fell 14.9% on concerns of lawsuits alleging the payment of value added tax, corporate income tax and land acquisition issues. Among others, GigaMedia Limited (GIGM), Orsus Xelent Technologies (ORS) and VisionChina Media (VISN) eroded around 11.7%, 10.4% and 10.1%, respectively. India ADRs: Winners and Losers Indian ADRs trading on the NYSE and Nasdaq lost $2.73 billion in valuation for the week ended October 22, with IT major Wipro (WIT) and HDFC Bank (HDB) accounting for the majority of losses. Of the 15 listed entities, seven registered losses, Patni Computers (PTI) remained unchanged, while the remaining closed in the green. iGATE (IGTE) emerged top gainer, advancing 1.1% by the end of last week. iGATE is now included in the S&P SmallCap 600 index, replacing one company after it was acquired by another constituent of the index.
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 + 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