NEW YORK (TheStreet) -- Global market indices ended in green last week, except India's Nifty, which eased 0.1%. Among other emerging market indices, the Shanghai Composite Index gained 3.3%, and Brazil's Bovespa advanced 0.7%. Other economic signals such as unemployment sliding to a 30-year low and consumer sentiment showing significant momentum pushed the Dow Jones and the S&P 500 1.5% and 1.4% higher, respectively.
China: Winners and Losers
China Precision Steel (CPSL) lead the gainers' pack last week, rising 21.2%, after analysts said the stock is extremely undervalued and presents an attractive buying opportunity, citing the company's strong capacity and backlog and robust demand for its products. Semiconductor Manufacturing International (SMI) surged 20.2% last week after analysts at HSBC upgraded the stock to neutral from underweight and raised the price target to $4.20 from the old target of $3.60.
Shanda Interactive Entertainment (SNDA) gained 12.1% last week. TheStreetRatings upgraded Shanda from hold to buy, based on the company's strong fundamentals. Baidu (BIDU) advanced 10.1%. The stock is looking upbeat after it posted impressive fourth quarter results and an optimistic first quarter outlook. A Bloomberg report says the company's growth potential is large, betting on the nearly three-fold growth expected in online advertising to almost $13 billion by 2014.Origin Agritech (SEED) and The9 (NCTY) were up 8% and 6.8%, respectively. China's online game developer The9 recently acquired Vision 3D game R&D engine from Trinigy to support the development of a yet-to-be-named game product. After Collins Stewart maintained a neutral rating and a $7 price target on the stock, JA Solar Holdings (JASO) climbed 6.6% last week. Other solar stocks like Yingli Green Energy (YGE) and Canadian Solar (CSIQ) rose 2.6% and 2.1%, respectively. For the second consecutive week, Xinhua Sports & Entertainment (XSELD) headed the losers' list, slumping 93.3%. Internet stocks like eLong (LONG) and HSW International (HSWI) shed 15.9% and 13.3%, respectively. Analysts at Chinainvestor cautioned investors about investing in China's internet stocks because of their overbought situation. Other notable losers were Perfect World (PWRD) and LJ International (JADE), down 6.5% and 6.3%, respectively. India: Winners and Losers Sify Technologies (SIFY) topped the advancers' list with gains of 12.4% last week. The company's CFO said the government should consider removing service tax on consumer broadband in the 2011-12 budget. This will increase penetration rates in the household broadband segment.
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