NEW YORK (TheStreet) -- Emerging market ADRs had a great outing this week with our recommended stocks from the previous week gaining sharply to outperform both domestic and foreign bourses.During the week, S&P 500 gained 2.9%, Dow Jones Industrial Average was up 1.9%, and China's Shanghai Composite Index added 2.9%, while India's Nifty was up 2.2%. Solarfun Power Holdings ( SOLF), a manufacturer of silicon ingots, photovoltaic (PV) cells and PV modules in China zoomed 27% during the last one week. Since our recommendation dated May 25, the stock has gained 19%. On May 26, the company reported revenues of $216.2 million for the quarter ended March, a sequential increase of 17.8% and a year-over-year increase of 115.7%. Earnings increased multiple times to 35 cents per share compared to 3 cents a share in the fourth quarter of 2009 and a loss of 2 cents per share in the same quarter last year. The reported earnings were far ahead of the consensus estimate of 19 cents per share. China's automobile sector is another space we are bullish on, as reflected in our long-term view. China Automotive Systems ( CAAS), a manufacturer of power steering systems and other automobile components, gained 22.3% during the past one week. The stock's 5-day average trading volume was up 40% to 895,922 shares compared to the 52-week average of 637,639 shares. On May 25, Oppenheimer & Co rated the stock a market outperformer with a price target of $25, implying an upside of about 30% over current levels. Our other auto parts and equipment maker picks included Sorl Auto Parts ( SORL) and Wonder Auto Technology ( WATG), which have gained 14.7% and 14.3%, respectively. On May 24, Roth Capital Partners gave buy ratings to both of the companies with price targets of $13 and $50, respectively. China's food and agriculture stocks recommended in our report dated May 24 logged in handsome gains as well. AgFeed Industries ( FEED), engaged in the animal nutrition and commercial hog producing businesses, gained 15.2% during the week. On May 26, Rodman & Renshaw rated the stock a market outperformer with price target of $5, implying a 43% upside over current levels. Origin Agritech ( SEED), a technology-focused supplier of crop seeds in China, appreciated 13.5% over the week. Rodman & Renshaw rated the stock a market outperformer with a price target of $17, representing a more than 100% upside over current levels.
Another boomer that has surged close to 100% within the past one month or so is Spreadtrum Communications ( SPRD). The fabless semiconductor company continued its strong run this week as well, piling on another 20.6%. The stock witnessed a host of rating revisions over the week in view of the bullish sentiment for the ticker. Indian ADRs were not far behind. The entire IT pack comprising Satyam Computer Services ( SAY) (+10.9%), Cognizant Technology Solutions ( CTSH) (+8%), Wipro ( WIT) (+7.6%), iGate Corp ( IGTE) (7%), and Infosys Technologies ( INFY) (+5%) registered impressive gains. Indian mining major Sterlite Industries' ( SLT) stock was up 7.8% during the week. The stock closed 6% higher in trade on the Indian market on Friday. Nonetheless, Brazilian mining majors Rio Tinto ( RTP), Vale SA ( VALE) and Companhia Siderurgica Nacional ( SID) gained 18.7%, 14.9%, and 14.6%, respectively.