NEW YORK ( TheStreet) -- Emerging market ADRs have had an emphatic run during the last week, led by China solar companies. During the week, the S&P 500 has gained 3.8%, Dow Jones is up 3.7%, Shanghai Composite Index accumulated 3.7%, Brazil's Bovespa gained 3.7% and India's Nifty Index increased 2.2%.Major gainers include, Solarfun Power Holdings ( SOLF), JA Solar ( JASO), Trina Solar ( TSL), Suntech Power ( STP), Canadian Solar ( CSIQ), Yingli Green Energy ( YGE) and LDK Solar ( LDK), which surged 28.2%, 25.2%, 21.3%, 19.3%, 15.6%, 15.4% and 14.3%, respectively. We have been bullish on this space with a long-term outlook. News of China doubling the world's solar panels capacity by loaning Yingli Green Energy $5.3 billion in order to expand production had a positive impact on the stock. The funds will be lent by China Development Bank, which also funded approximately $12 billion to Suntech Power and Trina Solar in April. "The loans are enough to increase the world's solar wafer and cell capacity by 100 percent," Jenny Chase, head of solar-energy analysis for New Energy Finance, told Bloomberg. According to the group, China accounted for 43% of world production last year. Among Indian gainers, Cognizant Technology Solutions ( CTSH) gained 5.4%. On July 7, JPMorgan rated the stock overweight with a price target of $56, implying 6% upside over current levels. CTSH's peer Wipro ( WIT) is up 4.8% during the last week. On July 7, India-based Lavasa, Wipro and Cisco Systems ( CSCO) have collaborated to develop India's first complete E-city. Among Brazilian gainers, Banco Bradesco SA ( BBD) gained 17.9% after Bank of America ( BAC) upgraded the stock to buy from neutral. Itau Unibanco Banco Holding SA ( ITUB) accumulated 17.5% after the stock was upgraded to buy from neutral by Goldman Sachs ( GS). Moreover, Net Servicos de Comunicacao SA ( NETC) and Gol Linhas Aereas Inteligentes SA ( GOL) gained 14.7% and 5.9%, respectively, after Brazil-based bank Banco BTG Pactual SA recommended the stocks as a buy.