NEW YORK (TheStreet) -- Markets worldwide rose last week, although the Chinese market edged marginally lower. Among emerging market indices, India's Nifty posted the highest increase of 2.8%, while Brazil's Bovespa advanced 2.2%. China's Shanghai Composite Index dipped 0.3%. The Dow Jones and the S&P 500 were up 1.3% and 1.4%, respectively.
China: Winners and Losers
China Metro Rural Holdings (CNR) topped the gainers' list, rising 26.8% last week. China Yuchai International (CYD) followed, gaining 17%. The company reported 24.7% increase in revenue to $2.5 billion for 2010 and 79.9% rise in net income to $170.6 million.
Yanzhou Coal Mining (YZC) accumulated 16% at close last week. The company announced dividend payment of RMB 0.59 per share for fiscal year 2010 last week. UTStarcom (UTSI) and AirMedia Group (AMCN) were up 15.2% and 14.9%, respectively. AirMedia recently announced that its board approved a share repurchase program up to $20 million within two years from March 21, 2011.China Shen Zhou Mining & Resources (SHZ) added 10.3%. The company reaffirmed its 2011 guidance last week and forecasts net revenue at $38 million on net income of $11 million. Internet stocks Sohu.com (SOHU) and Baidu (BIDU) grew 10% and 2.9%, respectively. In fact, a research report by Bedford, which cites a study by McKinsey predicting China's internet population will grow to 750 million in 2015, provided impetus for these two stocks. The report estimates that China's internet market will continue to grow with almost six million people going online for the first time every month in China. In a separate development, industry analysts believe that Sohu has been gaining largely on web video traffic and advertisements. LJ International (JADE) was up 8.8% at close last week after reporting attractive results for 2010. Last week, LJ reported net income of $13 million or 49 cents per share, compared to $3.7 million or 15 cents per share in 2009. Revenue rose 27% to $140.5 million. The company guides 2011 first quarter revenue at $40 million and net income at $3 million, or 10 cents per share. Advanced Battery Technologies (ABAT) was at the helm of losers last week, down 43.4%, despite reporting higher revenue and net income for 2010, Telestone Technologies (TSTC) plunged 15.3% at the end of the past week.
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