Emerging-Market Stocks to Watch

NEW YORK (TheStreet) -- Global indices have had a rough ride this past week as the S&P 500 lost 4.3%, the Dow Jones Industrial Average declined 4.1%, the Shanghai Composite was down 6.7%, Brazil's Bovespa fell 4.2% and India's Nifty Index inched down 0.3%.

Despite this mayhem, there are a few emerging-market ADRs that outperformed both domestic and foreign bourses, gaining anywhere between 2% and 12%. BMP Sunstone ( BJGP), a China-based pharmaceutical company, gained 12.3%. Average five-day volume stood at 410,037 shares, compared with the 52-week average of 103,690 shares. Recently, Susquehanna Financial Group assigned a positive rating to the stock and a price target of $7, implying 30% upside over current levels.

Gigamedia ( GIGM) gained 11.3%. The company provides online entertainment software and services to the online gaming industry in China. Recently, Roth Capital Partners assigned a hold rating to the stock with a price target of $3, representing 32% upside over current levels.

Global Sources ( GSOL) increased 7.5%, touching a 52-week high of $8.04 earlier this week.

The stock was among the major gainers last week as well. The company's board recently increased its upcoming cash tender offer to purchase 11.12 million shares, up from 6.67 million shares. However, the purchase price remains at $9 per share.

JA Solar Holdings ( JASO), a Chinese manufacturer of solar cells, was up 6.8%. Recently, Goldman Sachs and Nomura assigned a buy rating to the stock with price targets of $7.50 and $8, respectively, representing an upside of approximately 50%-60% over current levels.

Another solar cell maker, Trina Solar ( TSL), gained 4.6%. The company has partnered with Australia's Ingenero in order to install the country's largest rooftop solar power system. Trina solar will supply the solar panels for installation.

Shifting focus to Indian ADRs, IT and ITeS provider Syntel ( SYNT) increased 2.9%, while Tata Communications ( TCL) gained 2.4%.

Among the Brazilian ADRs, the country's largest retailer, Companhia Brasileira De Distribuicao ( CBD), increased 3.8%. According to the Brazilian Association of supermarkets, Brazil's May supermarket sales increased 3.8% year over year compared with a decline of 0.5% during April.

Braskem SA ( BAK) was up 2.9%, while energy major Companhia Paranaense de Energia ( ELP) gained 2.7% during the past week.

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