NEW YORK (Thestreet) -- Global market indices had a positive run last week, except China's Shanghai Composite Index which dropped 1% during the week. Meanwhile, India's Nifty and Brazil's Bovespa were up 0.2% and 1.1%, respectively last week. The Dow Jones and the S&P 500 gained 1% each during the past week.
China: Winners and Losers
Fuwei Films (Holdings) (FFHL) was at the helm of the advancers' list last week, gaining 21.1%, after the company announced that it received lowest anti-dumping duty (ADD) rate of 30.91%, while the ADD for four other Chinese companies was 36.93%, as the US Department of Commerce began its annual anti-dumping duty review. Suntech Power Holdings (STP) was up 20.2% after analysts at Canaccord Genuity upgraded the company's shares to hold from sell, raising the price target to $10 from the earlier $7.
LJ International (JADE) gained 19.5% last week. The company recently announced the opening of its 138th ENZO retail jewelry store in Wuxi, China. With this launch, the company is on track to meet its goal of 200 stores by the end 2011. China Nepstar Chain Drugstore (NPD) advanced 13.5% last week, after analysts at Zacks Investment Research upgraded shares to neutral from underperform.Solar stocks LDK Solar (LDK), JA Solar Holdings (JASO), and Canadian Solar (CSIQ) were up 11.8%, 10.1%, and 10.0%, respectively, gaining ahead of the expected robust earnings release. Moreover, an industry analyst estimates a significant rise in new photovoltaic installations during the first quarter of 2011. Yingli Green Energy (YGE) rose 9.9% after reporting impressive fourth quarter results. Yingli's earnings per share increased multi-fold to 52 cents from the year-ago period. Revenue escalated 66% on soaring demand from Europe. With the U.S. estimated to account for a bigger share in sales, the company forecasts 2011 shipments increasing by 60%-65%. Xinhua Sports & Entertainment (XSELD) led the pack of losers, declining 93.3% past week. Steel processing company, China Precision Steel (CPSL) followed, losing 8.9% after reporting weaker-than-expected earnings per share for second quarter ending December 31, 2010. The company recorded breakeven earnings per share, as compared to 6 cents in the year-ago period. Another finished-steel producer, Sutor Technology Group (SUTR) slumped 14.2%. After Goldman Sachs downgraded the shares to neutral from the earlier buy rating, Sina (SINA) plunged 8.2% last week. Ctrip.com International (CTRP) lost 8.1% after Oppenheimer lowered its price target to $50 from the earlier $54.
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