NEW YORK (TheStreet) -- Here are the winners and losers among emerging market stocks the past week.

China: Winners and Losers

Fuwei Films ( FFHL - Get Report) advanced 40.6% emerging as the top gainer for the week. Next was New Dragon Asia ( NWD) with a 26.3% gain.

China Architectural Engineering ( CAEI) was up 13.7%. During the week, the company completed its previously announced 1-for-4 reverse stock split. The stock will continue to trade on Nasdaq. China Medical Technologies ( CMED) rose 8% after Standard & Poor's Rating Services assigned a B+ issue rating to the company's $150 million convertible bond due 2016. With the 6.25% coupon fixed-rate bond, the company plans to utilize the proceeds for refinancing purposes.

Spreadtrum Communications ( SPRD), a semiconductor company, gained 7.3%. Since its third-quarter earnings release on Nov. 17, the consensus estimate for full year 2010 was increased 17 cents with the company revising its estimates more than once. Furthermore, the growth forecasts for 2011 were raised 23% from prior estimates.

Yanzhou Coal Mining ( YZC), Giant Interactive Group ( GA), and E-House (China) Holdings ( EJ) jumped 6.8%, 6.6%, and 6.2%, respectively.

China Digital TV Holding ( STV) and China Shen Zhou Mining & Resources ( SHZ) were the biggest losers, down 18.1% and 10.8%, respectively.

Fushi Copperweld ( FSIN) declined 3.9% last week. Recently, the company designed a new product to combat the rising theft of copper wire in industrial applications.

LJ International ( JADE), a vertically integrated company that designs, brands, markets, distributes, and retails a range of fine jewelry, lost 3.7%. Recently, the company said that it received a credit facility of $12 million from China Construction Bank in order to fund further expansion of its retail jewelry stores in China.

Other notable losers were China Sunergy ( CSUN), ( SOHU - Get Report), and Synutra International ( SYUT), declining 3%, 2.7%, and 2.7%, respectively.

India: Winners and Losers ( REDF), a provider of internet-based services, led the advancers' list with gains of 21.9% during the past week on skyrocketing volumes. Meanwhile, the company said that it has brought on board international game developers MiniClip and from the U.K., Lumosity from the U.S., and many others in order to combine online gaming and social media on the company's Rediff PlayGully platform.

Non-ferrous metals and mining company Sterlite Industries ( SLT) rose 6.5%. Cognizant Tech Solutions ( CTSH) increased 3.4%. BB&T Capital analysts initiated coverage on Cognizant with a buy rating and a price target of $82 indicating an upside of 12.6% over current levels.

iGate ( IGTE) gained 3% during the past week on the news that the company, in partnership with Apax Partners, could be the frontrunner to buy a 60% stake in Patni Computers ( PTI) valued at around $1 billion. iGate seeks to make an open offer for another 20% of Patni. Meanwhile, Oppenheimer initiated coverage on iGate assigning an outperform rating to the stock with a price target of $27, a 32.7% upside from current levels.

HDFC Bank ( HDB) was up 2.1% while Infosys Technologies ( INFY) gained 1.7%. Infosys is looking for a 7.4% growth rate in 2011 earnings, according to a research report from BusinessLine.

Dr. Reddy's Laboratories ( RDY) shed 5.7% pulled down by reports of a gas leakage in the company's facility at Hyderabad, India. Also, Mahanagar Telephone Nigam ( MTE) declined 2% during the past week. It was revealed that India may prevent telecom firms to offer non-voice third generation mobile services unless the telecom companies prove that these facilities can be tapped live.

Brazil: Winners and Losers

Vivo Participacoes ( VIV) emerged as the top gainer with an increase of 5.3% on a ratings upgrade. Last week, analysts at Sanford C. Bernstein upgraded the stock to outperform from market perform. Meanwhile, the company revealed that it has approved the interests' payment on its own capital for 2010 amounting to BRL 220 million ($130 million).

Braskem ( BAK), a petrochemical company, was up 4.9%. Brasil Foods ( BRFS) increased 4.2% after the company said it plans to raise investments by almost 80% to $940 million to $1.1 billion in 2011 driven by increasing demand for poultry and pork products.

Gafisa ( GFA) and Brasil Telecom ( BTM) gained 4.1% each, mainly driven by expanding volumes during the last week.

Companhia de Bebidas das Americas -- AmBev ( ABV) was up 3.9%. The leading beer and soda distributor said that it is scheduled to split its stock 5-for-1 on Tuesday. Meanwhile, AmBev also has a franchise to produce, sell and distribute PepsiCo ( PEP) outside the US. Also, it has a significant 70% share in the Brazilian beer market.

Among the major losers, Companhia Energetica de Minas Gerais ( CIG), the largest integrated electric utilities in Brazil, declined the most with a fall of 7.4%. Recently, the company received board approval for a payment of a special dividend totaling $900 million.

Embraer-Empresa Brasileira de Aeronautica SA (Embraer) ( ERJ) was down 2.2% after it was known that export credit providers for buying passenger aircraft will now charge airline companies a fee to bring the financial charges more in line with commercial rates.

Companhia Paranaense de Energia - COPEL ( ELP) and Tele Norte Leste ( TNE) were the other losers, declining 1% and 0.9%, respectively.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.