NEW YORK ( TheStreet) -- Here are the winners and losers among emerging market stocks the past week.
China: Winners and Losers
China Architectural Engineering (CAEI) was up 13.7%. During the week, the company completed its previously announced 1-for-4 reverse stock split. The stock will continue to trade on Nasdaq. China Medical Technologies (CMED) rose 8% after Standard & Poor's Rating Services assigned a B+ issue rating to the company's $150 million convertible bond due 2016. With the 6.25% coupon fixed-rate bond, the company plans to utilize the proceeds for refinancing purposes.Spreadtrum Communications (SPRD), a semiconductor company, gained 7.3%. Since its third-quarter earnings release on Nov. 17, the consensus estimate for full year 2010 was increased 17 cents with the company revising its estimates more than once. Furthermore, the growth forecasts for 2011 were raised 23% from prior estimates. Yanzhou Coal Mining (YZC), Giant Interactive Group (GA), and E-House (China) Holdings (EJ) jumped 6.8%, 6.6%, and 6.2%, respectively. China Digital TV Holding (STV) and China Shen Zhou Mining & Resources (SHZ) were the biggest losers, down 18.1% and 10.8%, respectively. Fushi Copperweld (FSIN) declined 3.9% last week. Recently, the company designed a new product to combat the rising theft of copper wire in industrial applications. LJ International (JADE), a vertically integrated company that designs, brands, markets, distributes, and retails a range of fine jewelry, lost 3.7%. Recently, the company said that it received a credit facility of $12 million from China Construction Bank in order to fund further expansion of its retail jewelry stores in China. Other notable losers were China Sunergy (CSUN), Sohu.com (SOHU), and Synutra International (SYUT), declining 3%, 2.7%, and 2.7%, respectively. India: Winners and Losers Rediff.com (REDF), a provider of internet-based services, led the advancers' list with gains of 21.9% during the past week on skyrocketing volumes. Meanwhile, the company said that it has brought on board international game developers MiniClip and King.com from the U.K., Lumosity from the U.S., and many others in order to combine online gaming and social media on the company's Rediff PlayGully platform. Non-ferrous metals and mining company Sterlite Industries (SLT) rose 6.5%. Cognizant Tech Solutions (CTSH) increased 3.4%. BB&T Capital analysts initiated coverage on Cognizant with a buy rating and a price target of $82 indicating an upside of 12.6% over current levels.
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