NEW YORK (TheStreet) -- During this past week, the S&P 500 gained 3.3%, Dow Jones increased 2.8%, India's Nifty was up 1.4%, China's Shanghai Composite Index was down 3.8%, and Brazil's Bovespa gained 4.6%.
Although the five-day change is positive, there is still a lot of uncertainty surrounding global markets, due to European concerns and policy changes in China. However, we have identified various ADRs -- China, India and Brazil -- that have posted solid gains during the past week.
( FSIN) increased 16.2% to close at $10.70 Thursday. The stock was recommended by us in the
. It was trading at $9.89 then, implying a gain of 8.2% till date.
On May 26, the company revealed that its subsidiary,
Fushi International Bimetallic Cable
, has signed a definitive agreement to acquire
Shanghai Hongtai Industrial
, a leading manufacturer of bimetallic wire in Southeast China, in a cash-and-stock deal for approximately $3.9 million.
Recently, Jefferies rated the stock a buy with a price target of $16, implying a 50% upside over current levels.
was one of
when it was trading at $7.10. The stock has gained 33% since then and 21.6% during the last week.
On June 3, the company announced that it acquired an 80% stake in
Shandong Kunfeng Biochemical
for ~$2 million in order to maximize its portfolio and expand to markets and segments where complete synergies can be achieved.
Meanwhile, another China ADR that clocked significant gains was
(+23.1%), up the most during the week. The parent company of eLong recently announced that its other subsidiary,
, plans to invest at least $50 million in China by 2011 and would continue to acquire Chinese Internet companies such as online travel media and hotel reservation Web sites.
Fuwei Films Holdings
was up 17.3% after it announced an increase of 18.8% in its revenue for the first quarter ended March 2010. Also, the company swung to a net profit of $286,000 from a reported net loss of $2 million a year ago.
Cabot Oil and Gas
China BAK and Battery
gained 16.4%, 14.7% and 13.6%, respectively.
escalated 13.4%. In a recent interview with Samsung securities, the company revealed that
market share in China has stabilized and expects no major changes to the competitive landscape in the near term. Immediately after that, Samsung securities rated the stock a buy with a price target of $82, implying a 7% upside over current levels.
Among the Indian ADRs,
increased 12.4% followed by
Dr. Reddy's Laboratories
, which gained 11.6%. Dr. Reddy's recently launched Tacrolimus Capsules, the generic version of Prograf Capsules in the U.S. market after it received approval from the US Food & Drug Administration. The Prograf brand already has sales of about $955 million in the U.S., according to IMS sales data for 12 months ending March 31, 2010.
rose 10.8% during the week after the company announced a 41.3% year-over-year increase in vehicle sales in May, primarily led by strong demand for medium and heavy vehicles.
gained 8.7%. Recently, the bank's Chairman Deepak Parekh revealed that he is confident of achieving a 20%-25% growth in the medium term and that the bank could double in size in four years.
Brazil's domestic airline,
Gol Linhas Aereas Inteligentes
, was up 13.7% subsequent to a "BB-" long-term IDR and stable outlook from Fitch, mainly as the company should benefit from strong domestic demand in the business and leisure segments along with a recovery in Brazil's economy.
Petrobras Energia SA
increased 12.5%, while
( BTM) gained 11.3% during the last week.
escalated 9.9%. Recently, the company said that it had won the rights to explore an oil block in New Zealand. On May 28, Barclays Capital assigned an equal weight/positive rating to the stock with a price target of $44, implying a 19% upside over current levels.