NEW YORK ( Karvy Global) -- Last week, Brazil's Bovespa gained 1.3%, while India's Nifty and China's Shanghai Composite Index fell 1.8% and 2.6%, respectively. Meanwhile, the Dow Jones and S&P 500 rose 1% and 1.7%, respectively.
China: Winners and Losers
China Shenghuo Pharmaceutical ( KUN) topped the gainers' list last week, rising 62%. Fuwei Films ( FFHL) and New Dragon Asia ( NWD) followed, adding 34% and 23.5%, respectively. SINA ( SINA) gained 16.1% on speculation that Baidu ( BIDU) and Alibaba.com may invest $100 million in its microblogging Web site Weibo. Meanwhile, LDK Solar ( LDK) jumped 16% after the company raised its fourth-quarter guidance, pegging sales between $870 and $910 million, almost 21% higher than the top end of its earlier estimate. In addition, LDK raised its shipments guidance for wafers and modules and its in-house polysilicon and cell production. eFuture Information Technology ( EFUT) and China GrenTech ( GRRF) notched up gains of 14.6% and 13.3%, respectively. Sinovac Biotech ( SVA) and AgFeed ( FEED) added 11.4% and 11.1%, respectively. A-Power Energy Generation Systems ( APWR) increased 10.5%, after securing a few construction projects in China. The company recently signed a $43 million engineering, procurement, and construction (EPC) contract with China Resources Land (Shenyang) to develop the Oak Bay real estate project. The company has also signed a $13.6 million construction project with Yingkou Tesco Real Estate for a shopping mall project in North China. China Architectural Engineering ( CAEID) was the major loser, plunging 75% during the past week. Telestone Technologies ( TSTC) was down 20.2%, weighed down by the legal allegations it has been facing during the past couple of weeks. SORL Auto Parts ( SORL) lost 9.6% after Zacks Investment Research downgraded the stock's rating to neutral from outperform. China Shen Zhou Mining & Resources ( SHZ) and Home Inns & Hotels Management ( HMIN) plummeted 9.3% and 7.2%, respectively. However, China Shen acquired 55% of Xinyi Fluorite for $9.85 million last week, aiming to expand its fluorite resources for producing value-added fluorite chemicals. Home Inns announced plans to launch 260 to 280 new hotels in 2011 and is seeking to move into China's midscale hotel segment with three to four hotels under the Yitel brand.
India: Winners and Losers
Technology stock Rediff.com ( REDF) topped the advancers' list, gaining 45.8% last week. Sify Technologies ( SIFY) followed, accumulating 24.7%. The company is scheduled to report its third-quarter financial results on Friday before the market opens.