NEW YORK ( TheStreet) -- During the past week, global markets were trading upward, mainly spurred by positive manufacturing data from around the world and easing concerns over the economic recovery. The Dow Jones and the S&P 500 gained 2.6% and 3%, respectively. Among emerging markets, India's Nifty increased the most, with gains of 3.4%, while Brazil's Bovespa was up 2.3%. The Shanghai Composite Index was down marginally by 0.3%.China: Winners and Losers Simcere Pharmaceutical Group ( SCR) was the top gainer during the last week with an increase of 18.5%. Linktone ( LTON) accumulated 16.2% during the week, after the Chinese media entertainment company reported a 43% revenue growth during the third quarter compared to the year-ago quarter. For the fourth quarter, the company expects to record revenues in the range of $20 million-$21 million compared to $19.8 million in the current quarter. Silvercorp Metals ( SVM) was up 15.8% during the week. China Shen Zhou Mining & Resources ( SHZ) scaled up 14.5% last week. Recently, the company said that net revenues are estimated to increase by 164% in 2011 vis-à-vis 2010 levels. For 2010, net revenues are seen at $14.5 million, up from $4.2 million in 2009. Meanwhile, Suntech Power Holdings ( STP) jumped 13.1% after the company was upgraded by Auriga, which raised its price target to $11 from the earlier $9. Analysts at the research firm added that the stock has limited downside and company-specific positive developments should encourage investors to build long-term positions on the stock. Sina ( SINA) was up 11.7%. China Architectural Engineering ( CAEI) topped the losers' list, plummeting 24.6%. A-Power Energy Generation Systems ( APWR) lost 19.7% after the company lowered its 2010 guidance. The company said that it estimates revenue to come in at $310 million, lower than both its previous guidance of $500 million and Reuters estimates of $441 million. It added that revenues were subdued mainly due to lower-than-estimated wind turbine sales. Net income guidance was down to $50 million compared to analysts estimates of $72 million. China Medical Technologies ( CMED) tumbled 14.3%. The company announced recently that it has increased its size of the previously announced offering of convertible senior notes, pricing it at $125 million in aggregate principal amount of convertible senior notes due 2016 at an issue price of 100%. The issue was closed yesterday.
New Dragon Asia ( NWD) and eLong ( LONG) dropped 13.7% and 11%, respectively. India: Winners and Losers Rediff.com ( REDF) was the top gainer, accumulating 47.7% during the past week. The company revealed the outcome of its general meeting, at which shareholders approved three resolutions. This included the Vubites acquisition, which will now be completed before December 10. With the completion of the acquisition, Rediff will foray into the Local TV-Ad market using Internet technologies. WNS Holdings ( WNS) advanced 13.7% during the week. Sify Technologies ( SIFY) ranked third in the advancers' list, gaining 12%. Recently, the company revealed a strategic partnership with Hungama Digital Media, South Asia's largest distributor of South-Asian entertainment content. The company expressed optimism about its partnership with the media company to extend yet another lifestyle enhancing service to customers and enrich the Sify mylife consumer ecosystem. Mahanagar Telephone Nigam ( MTE) gained 8.2% after it was known that the company received a tax refund of approximately $66.7 million, including its interest refund amount for the year 2001-02 and 2002-03. Meanwhile, the company is making efforts to increase revenue by targeting new streams through sharing its third-generation networks as well as wireless broadband networks on Worldwide Interoperability for Microwave Access technology. Among the major losers, iGATE ( IGTE) slipped 19.8%. The company is seeking to sell 16 million shares in order to raise almost $392 million. The chief executive of iGATE said that the issue of shares is to facilitate the mergers or acquisitions that the company intends to embark on in the near future. Besides, the company is in talks with Patni Computers ( PTI) to acquire its stake, valuing the deal at almost $1 billion. Tata Motors ( TTM) plunged 10.3%. The company recently said that its joint venture with Fiat Automobiles is going through a rough patch. For 2009-2010, the losses of the joint venture were up 39% compared to the year-ago period. Meanwhile, the Fiat business has been performing badly, with market share declining to 0.83% during the year from a prior 1.17%. Brazil: Winners and Losers BRF Brasil Foods ( BRFS) was the top gainer, up 11.1% in past week. The company said that it plans to initiate discussions with antitrust regulators about potential asset sales as it seeks approval for acquiring Sadia. The company believes that the regulator will approve the takeover in the first quarter of 2011. Meanwhile, the company's chief executive said that Brasil Foods exports are likely to increase 3% to 5% in 2011 mainly due to the rising demand from Middle East, Africa and Latin America.
Utility company Centrais Eletricas Brasileiras SA (Eletrobras) ( EBR) rose 8.7%, standing second in the gainers' list. Recently, the company said that it plans to sell $1 billion in 10-year bonds at the beginning of 2011 in order to reduce earnings volatility caused by exchange-rate fluctuations. Meanwhile, Eletrobras recently obtained financing worth $500 million from the Andean Development Corporation (CAF) in order to bolster its cash reserves. The financing would be in the form of a two-part syndicated loan of $125 million and $375 million. Vale ( VALE) was up 7.9%. The company recently announced start of operations at its copper project in Chile, with annual production capacity of 18,500 tonnes of copper cathode and a required investment of $140 million for its construction phase. Also, Vale said that out of its total capital expenditure of $24 billion for 2011, almost $148 million had been set aside for investments in Malaysia. Companhia Paranaense de Energia - COPEL ( ELP), a Brazilian-based energy company, increased 6.9% during the past week. Petroleo Brasileiro S.A. (Petrobras) ( PBR) was up almost 7% during the week. The company recently said that the Brazil Congress will likely pass the bill of royalty payments for offshore production in 2011. EVA Dimensions upgraded the stock to Overweight from Hold. Emerging as the sole loser during the week, Vivo Participacoes ( GFA), a provider of cellular telecommunication services in Brazil, shed 3.1% during the past week.