NEW YORK (
) - A few emerging market ADRs outperformed global indices last week.
Dow Jones Industrial Average
rose 2.85%, while the
increased 3.2%. Comparatively, the
Shanghai Composite Index
rose 3.5% and Brazil's
advanced 3.3%. Meanwhile, India's
China: Winners and Losers
The top gainer
, which is engaged in the acquisition, exploration, development, and operation of silver mineral properties in China and Canada gained 27.2% past week, riding on the back of a sharp upswing in silver prices, following the
's announcement of the quantitative easing.
Nam Tai Electronics
soared 24.9% past week after reporting $7.6 million in net profits for the third-quarter, up 68.9% from a year ago.. Sales were $174.7 million, a 58.3% year-on-year increase. Currently, two expansion projects are underway: evelopment of the company's land in Guangming Hi-Tech Industrial Park, Shenzhen, and expansion of the Wuxi facilities.
China Shen Zhou Mining & Resources
, which is engaged in exploring, developing, mining, processing, and distributing fluorite ore, zinc, copper, lead, and other nonferrous metals, rose 24.9% on the expectation of upbeat third-quarter results, to be announced on Nov. 10.
China BAK Battery
(CBAK - Get Report)
Xinhua Sports & Entertainment
jumped 22.6%, 17%, and 16% respectively.
, an insurance intermediary company in China, fell 11.1% after a downgrade from "overweight" to "underweight" at
China Shenghuo Pharmaceutical Holdings
Home Inns & Hotels Management
declined 10.6%, 10.4%, and 10.2% respectively.
, a China-based online travel agency, plummeted 8.7%. Ctrip presented a weak fourth-quarter sales outlook, eyeing a growth of 30% to 35% from a year earlier, implying $107 million to $112 million, falling below analyst consensus of $116.4 million.
is a provider of telecommunications software solutions and information technology (IT) security products and services in China. The stock lost 7.8% after the company announced a fourth quarter sales of $123 million, lower than analysts' average estimate of $126.8 million.
India: Winners and Losers
, the largest Indian private bank, jumped 9.5%. Robust second-quarter numbers and higher loan growth provisions sustained the positive momentum.
jumped 8.5% and 8%, respectively.
, an Indian IT services provider, rose 7.1% on stake sale reports. Reports indicate the promoters, backed by
, are planning to offload the entire stake, and a U.S. private equity firm Advent International is a potential bidder for the 45.8% interest held by Chairman Narendra Patni and family.
, India's largest commercial vehicles maker by sales, advanced 5.9%. The company reported a 21.3% upswing in vehicle sales to 64,757 units during October 2010, compared to 53,404 units during the same month last year. The expectation of upbeat results has sustained buyers' interest in the stock.