Emerging-Market Winners and Losers
NEW YORK (Thestreet) -- Global indices ended mixed last week. China's Shanghai Composite Index rose 1.2%, and India's Nifty edged up 0.1%, outperforming the Dow Jones Industrial Average and the S&P 500, which lost 0.3% and 0.6%, respectively. Brazil's Bovespa shed 3.0%.
China: Winners and Losers
Noah Education Holdings (NED) advanced 24.4% last week. The company announced last week a definitive agreement to acquire an 80% interest in Shanghai Yuanbo Education Information and Consulting for a total value of $15.7 million. Noah recently received an initial payment of $6.1 million from First Win Technologies for the acquisition of Noah's Electronic Learning Products business and operating assets.Feihe International (ADY) climbed 23.5% last week. Airline stocks China Southern Airlines (ZNH) and China Eastern Airlines (CEA) added 21.1% and 17%, respectively, on rising throughput numbers. China Southern reported last week that its passenger throughput in March was up 1.3% year over year, while cargo recorded a 7.3% increase. Similarly, for the first quarter, China Eastern's passenger throughput jumped 15.95% year over year. Software stocks Shanda Games (GAME) and CDC (CHINA) rose 14.2% and 11.9%, respectively. CDC announced last week that its subsidiary china.com will realize significant gains from a private equity fund investment of $14 million. CDC is due to release its fourth-quarter results on Thursday, April 21. Leading the pack of losers, Fuwei Films (Holding) (FFHL) plunged 20.3% at the end of last week. Telecom company Telestone Technologies (TSTC) followed, declining 18.3%. China Green Agriculture (CGA) gained 10.5%. Last week, the company announced that subsidiary Gufend has signed a fertilizer export contract with Beijing Baofengnian Agricultural Material to export 30,000 metric tons of compound fertilizer products through Baofengnian. Food stocks AgFeed Industries (FEED) and Agria (GRO) shed 8.6% and 8.3% last week, respectively. India: Winners and Losers Sify Technologies (SIFY) continued to extend its gains for the second consecutive week, climbing 37.7%. The company is focusing on expanding its presence in Europe, Asia, and Africa. Besides, and it's also looking to penetrate the U.S. market, both horizontally and vertically. Rediff.com (REDF) followed, up 18.4% last week. Major Internet companies experienced huge buying interest last week. Mahanagar Telephone Nigam (MTE) gained 2.8% last week.
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