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 - Get Report) 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 - Get Report), Perfect World (PWRD - Get Report) and China Nepstar Chain Drugstore (NPD - Get Report) jumped 22.6%, 15.7%, and 13.6% respectively. Sohu.com (SOHU - Get Report) 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 - Get Report) 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 - Get Report) 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 - Get Report), Orsus Xelent Technologies (ORS) and VisionChina Media (VISN - Get Report) 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 - Get Report) 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 - Get Report) 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.
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