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. Fushi Copperweld ( FSIN) increased 16.2% to close at $10.70 Thursday. The stock was recommended by us in the report dated May 6. 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. Origin Agritech ( SEED) was one of our picks on May 24 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 eLONG ( LONG) (+23.1%), up the most during the week. The parent company of eLong recently announced that its other subsidiary, Tripadvisor, 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 ( FFHL) 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. Lastly, WSP Holdings ( WH), Cabot Oil and Gas ( COG) and China BAK and Battery ( CBAK) gained 16.4%, 14.7% and 13.6%, respectively. Baidu ( BIDU) escalated 13.4%. In a recent interview with Samsung securities, the company revealed that Google ( GOOG) 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, iGATE ( IGTE) increased 12.4% followed by Dr. Reddy's Laboratories ( RDY), 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. Tata Motors ( TTM) 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. HDFC Bank ( HDB) 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 ( GOL), 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. Meanwhile, Petrobras Energia SA ( PZE) increased 12.5%, while Brasil Telecom ( BTM) gained 11.3% during the last week. Oil major Petroleo Brasileiro ( PBR) 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.