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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 - Get Report) 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 - Get Report) 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 - Get Report) 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 - Get Report) climbed 6.6% last week. Other solar stocks like
Yingli Green Energy(YGE) and
Canadian Solar(CSIQ - Get Report) 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
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 LosersSify 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.