NEW YORK ( TheStreet) -- India's Nifty gained 1.5% last week, while Brazil's Bovespa and the Shanghai Composite Index lost 2.5% and 0.2%, respectively. Meanwhile, the Dow Jones rose 1.2%, while the S&P 500 edged 0.03% lower.
China: Winners and Losers
New Dragon Asia (NWD) emerged as the top gainer last week, up 70.6%. China Metro Rural Holdings (CNR) and China Shenghuo Pharmaceutical Holdings (Shenghuo) (KUN) followed, increasing 43.3% and 17.7%, respectively.
China Unicom (Hong Kong) (CHU) rose 7% last week after its 3G users topped 14.06 million, as of Dec. 31, 2010. Users grew 15% from the earlier month, surpassing the company's own set target of 10 million users. Meanwhile, LDK Solar (LDK) advanced 6.8% after the company raised its guidance for the fourth quarter on the optimism of a brighter outlook for the solar industry.Yingli Green Energy Holdings (YGE) gained 6.7%. The company recently announced becoming the official premium partner of FC Bayern Munchen, one of the most successful and popular football clubs in the world. China Nepstar Chain Drugstore (NPD) rose 4.5% after announcing a special cash dividend of 30 cents per ADR, representing a total value of $31 million payable on Feb. 28, 2011. China Telecom (CHA) rose 3.5%, buoyed by a 34.43 million increase in CDMA users to 90.52 million during 2010. In 2011, China Telecom will provide more subsidies for 3G smart phones and plans to launch a marketing partnership with mobile phone manufacturers. China Shen Zhou Mining & Resources (SHZ) headed the losers' list, dropping 28.5%. AgFeed (FEED) fell 19.4% as inflation fears gripped China's markets. China Southern Airlines (ZNH) slipped 13.5% on the concern that the industry's earnings growth will be affected as snowstorms spur flight cancelations. Among other losers, Agria (GRO), Origin Agritech (SEED) and China Precision Steel (CPSL) plummeted 12.6%, 11.7% and 10%, respectively. India: Winners and Losers Sify Technologies (SIFY) emerged as a major gainer last week, after posting a 76% increase in its third-quarter EBITDA, to $2.1 million, on a total operating revenue of $38.72 million. Meanwhile, the company's hosting business grew 26.4% during the quarter, compared to the year-ago quarter. Rediff.com (REDF) followed, up 11%. Rediff is scheduled to report its third-quarter financial results ending Dec. 31, 2010 on Jan. 25, 2011. Patni Computer Systems (PTI) gained 2.4%. Last week, UBS Securities said it is positive on Patni, a mid-cap information technology company, considering that in 2011, investors will likely shift focus from large-cap IT companies to mid caps. Finally, ICICI Bank (IBN) edged up by a marginal 0.8%. Edelweiss Capital believes that investors should stay invested in private sector banks like ICICI for longer-term benefits.
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