This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
NEW YORK ( Thestreet) -- Among emerging markets' indices, except the Shanghai Composite Index, which notched up 4.5%, India's Nifty and Brazil's Bovespa erased 1.7% and 2.1%, respectively, last week. Meanwhile, as U.S. jobless claims dropped more than expected, the Dow Jones and the S&P 500 closed 2.3% and 2.7% higher, respectively.
China: Winners and Losers
Changyou.com(CYOU - Get Report) topped the advancers' list, up 19.6%, after reporting an impressive fourth quarter. Net income for the quarter increased 23% year-over-year to $47.8 million, while revenue was up 30% to $91.7 million.
Sohu.com(SOHU - Get Report) rose 16.1% past week.
Jinpan International(JST) climbed 13.1% last week after the company secured five large domestic orders in January. The orders, scheduled for delivery between March and June 2011, are worth a total $6 million.
Qiao Xing Universal Resources(XING) advanced 13%. Past week, analysts at Trading Markets said Xing is an attractive buy as it is a small-cap stock with a strong cash position relative to its total assets.
AsiaInfo-Linkage(ASIA) were up 12.9% and 12.8%, respectively. Recent industry reports said
Nokia(NOK - Get Report) is collaborating Sina and Tencent to integrate Ovi Maps into local social networks during the first quarter of 2011. Sina's Weibo will be providing Nokia with instant access to the 100 million internet users that it is likely touch by the second quarter of 2011. Meanwhile, AsiaInfo is on a winning streak after reporting strong fourth quarter earnings.
Baidu.com(BIDU - Get Report) climbed 10.5% last week. China's top search engine reported a more than twice increase in its fourth quarter net profit to $175.9 million, compared to the same period last year. Baidu's revenue surged 94.4% to $371.3 million. Additionally, during the quarter, the company's active advertisers soared by 24%, adding 4,000 new subscribers.
Xinhua Sports & Entertainment(XSELD) headed the losers' list, plunging 93.3%. Last week, global food prices touched record highs on uncertain weather conditions and a tight supply scenario. Food stocks like
Feihe International(ADY) and
New Dragon Asia(NWD) shed 12.6% and 11.8%, respectively.
Other notable losers were
China Skyone Medical(CSKI) and
China Biotics(CHBT), down 8.3% and 5.8%, respectively.
India: Winners and LosersiGATE(IGTE) emerged top gainer last week, up 13.5%. Analysts at Zacks Investment Research recommend buying this stock cheap as they expect it to generate huge returns in the foreseeable future.
Syntel(SYNT) followed, advancing 7.1%. Last week the company announced plans to start a new, 25-acre manufacturing facility at ELCOT IT Park in India.