NEW YORK (TheStreet) -- Global exchanges declined last week on a wave of risk aversion, sparked off by the political unrest in Egypt. Last week, all the emerging markets, except China, faced value erosion. In fact, the U.S. markets slumped the most. India's Nifty and Brazil's Bovespa shed 4.1% each last week, whereas the Shanghai Composite Index gained 3.1%. Meanwhile, the Dow Jones and the S&P 500 edged 0.4% and 0.5% lower, respectively.

China: Winners and Losers ( SOHU topped the advancers' list, up 11%, ahead of its estimated positive fourth quarter results. As per the consensus estimates of Wall Street analysts, profit per share is seen at 99 cents on a revenue of $167.6 million. During the year-ago quarter, Sohu reported a profit of 76 cents per share. Agria ( GRO rose 10.9% past week, after sending its partial takeover offer to PGG Wrightson's (PGW) shareholders, in compliance with the Takeovers Code. Agria intends to acquire 38.3% of PGW's shares.

Spreadtrum Communications ( SPRD gained 9.7% last week after the company along with Taiwan Semiconductor Manufacturing ( TSM achieved the first commercialized 40nm Time Division-Synchronous Code Division Multiple Access (TD-SCDMA) baseband processor milestone. Meanwhile, China BAK Battery ( CBAK advanced 8.6%, following strong quarterly financial results. Revenue for the first quarter ending Dec. 31, 2010 surged 26.5% year-over-year, while net loss narrowed to $3.7 million, compared to $8.6 million in the earlier quarter.

Silvercorp Metals ( SVM - Get Report) and The9 ( NCTY were up 6.6% and 6.5%, respectively. China Biotics ( CHBT rose 5.4%. The company recently announced its preliminary, unaudited revenue for fiscal year 2011 third quarter ended Dec. 31, 2010. China Biotics estimates revenue to come in the range of $32 to $33 million, compared to $23 million recorded during the same period a year ago.

China Petroleum & Chemical (Sinopec) ( SNP climbed 2.9% last week. The company said its lube oil sales stood at 1.6 million metric tons, amounting to one-third of the top- and medium-grade lube oil market in China. Meanwhile, Sinopec's 2010 net profit is seen touching $15.14 billion in 2010, a top company official said.

Xinhua Sports & Entertainment ( XSELD headed the losers' list, plunging 93.3%. GigaMedia ( GIGM lost 20% after it missed analysts' quarterly estimates. Moreover, quarterly revenue was down 79% on a year-over-year basis.

New Dragon Asia ( NWD slipped 13.9% after it received a delisting warning from the NYSE after it failed to convene an annual shareholders' meeting for 2010.

Among other losers, solar companies Trina Solar ( TSL and JA Solar Holdings ( JASO dropped 8.9% and 7.9%, respectively.

India: Winners and Losers

WNS Holdings ( WNS emerged sole gainer during last week's trading session, up by a marginal 0.3%. ( REDF headed the losers' list, declining 12.6%. For the quarter ended Dec. 31, 2010, the company posted a 24.7% increase in revenues. However, net loss rose to $1.8 million, compared to $1.63 million in the year-ago quarter. Sify Technologies ( SIFY followed, down 10.9%. The company reported a $2.09 million loss for the quarter ended Dec. 31, 2010, compared to the same quarter a year ago.

Tata Communications ( TCL and Mahanagar Telephone Nigam ( MTE pared 10.8% and 8.2%, respectively. Meanwhile, Sterlite Industries ( SLT dipped 7.5% after the Indian government confirmed that it is under no obligation to sell the 49% stake it holds in Bharat Aluminum to parent company Sterlite. During 2001, Sterlite had acquired a 51% interest in the company with an option to acquire the remaining stake at a price decided by an expert panel formed by Sterlite and the government. However, the government has rejected the company's appeal after aluminum price soared, thereby boosting valuation of its holding.

Wipro Technologies ( WIT extended its downfall, losing 6.4%, after the company's two joint chief executives stepped down. For the third quarter, Wipro reported weak volume growth at 1.5%, whereas offshore volume increased 0.5% quarter-over-quarter. Meanwhile, onshore volume increased 4% sequentially.

Banking majors, HDFC Bank ( HDB and ICICI Bank ( IBN dipped 6.3% and 5.8% respectively. Banking stocks were battered after India's central bank hiked interest rates last week. The bank raised short-term lending and borrowing rates by 0.25% each, leading to costlier auto and home loans.

Brazil: Winners and Losers

Despite negative market sentiment and major stocks facing a decline, Embraer ( ERJ edged up 1% past week. RBC Capital raised its target price to $35, while a Goldman Sachs aerospace analyst estimates a further 22% upside for the stock. TIM Participacoes ( TSU followed, inching up 0.9%.

Gafisa ( GFA was the major loser, declining 7.6%. Companhia Brasileira De Distribuicao ( CBD was at the second position, down 7.4% last week.

Gerdau ( GGB, producer of long-rolled steel, slipped 6.3% last week. TAM ( TAM fell 5.7%. Last week, a Chilean court suspended the merger between Chile's LAN Airlines ( LFL and Brazil's TAM Airlines as it investigates if the merger complies with the South American country's antitrust laws. Officials say that the tribunal review will include consultations with numerous organizations related to the merger and will take a few more months. Another airline company, Gol Linhas Aereas Inteligentes ( GOL dropped 5.2%.

Companhia Siderurgica Nacional ( SID fell 4.9%. However, on the positive side, the company raised its stake to 5.03% in Usinas Siderurgicas de Minas Gerais by acquiring the company's ordinary shares.

Among others, Net Servicos de Comunicacao ( NETC and Companhia Paranaense de Energia ( ELP shed 3.8% and 3.7%, 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.