NEW YORK ( TheStreet) -- During the final week of 2010, emerging market stocks and major global indices traded mixed. India's Nifty gained 2.7%, while Brazilâ¿¿s Bovespa was up 1.2%. In contrast, the Shanghai Composite Index fell 1%. Both the Dow Jones and S&P 500 ended relatively flat, posting marginal gains of 0.03% and 0.07%.
China: Winners and Losers
China Shen Zhou Mining & Resources (SHZ) zoomed 103.4%, emerging as the star performer for the week. Last week, China, the leading country of rare earth metals, announced export quota permits of 14,446 metric tons for 2011. Additionally, Beijing raised export taxes for a few rare earths by almost 25%. Chinaâ¿¿s latest policies will limit the entry of new fluoride companies in the industry, thereby supporting existing companies.
Similarly, Qiao Xing Universal Resources (XING), a company operating in the mining and mobile telephony space gained 57.2% on the rare earth metals export quota slash. Likewise, China Direct Industries (CDII), a provider of magnesium and basic materials, surged 20.8%. CDII has announced plans to raise $4 million through registered direct offering with a price of $1.80 per share. Meanwhile, Gushan Environmental Energy (GU) jumped 44.5%.Agria (GRO) climbed 27.2% after the company along with China-based New Hope Group offered to buy a majority stake in PGG Wrightson, New Zealand's biggest rural service company. If the proposal is accepted, Agria, which currently owns a 19% stake in the company, will have a nearly 50% stake. Meanwhile, AgFeed (FEED) soared 21.5%. China Natural Resources (CHNR) gained 13.1% after second quarter sales surged 91%. China Nepstar Chain Drugstore (NPD) and Zhongpin (HOGS) jumped 10.7% and 10.5%, respectively. China Architectural Engineering (CAEI) and Fuwei Films (Holdings) (FFHL) were the biggest losers, down 75% and 23.4%, respectively. Chindex International (CHDX) declined 6.8% past week. The company has formed a joint venture (JV) with Shanghai-based Fosun Pharmaceutical to operate combined medical device businesses, including Chindex's Medical Products division. Chindex owns a 49% stake, while Fosun controls a 51% interest in the JV. Major solar stocks like Solarfun Power Holdings (SOLF), Canadian Solar (CSIQ), and LDK Solar (LDK) declined 4.8%, 4.5%, and 4.4%, respectively. India: Winners and Losers Sify Technologies (SIFY) topped the advancers' list with gains of 10.2%. Recently, it was known that information technology (IT) vendors who derive a portion of their revenue from the government are likely to double or triple their revenues during 2011 due to the estimated e-governance deals. Rediff.com (REDF) came second accumulating 6.7% past week, led by a spike in volumes. Sterlite Industries (SLT) rose 3.6%.
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