NEW YORK (TheStreet) -- Markets worldwide rose last week, although the Chinese market edged marginally lower. Among emerging market indices, India's Nifty posted the highest increase of 2.8%, while Brazil's Bovespa advanced 2.2%. China's Shanghai Composite Index dipped 0.3%. The Dow Jones and the S&P 500 were up 1.3% and 1.4%, respectively.China: Winners and Losers China Metro Rural Holdings ( CNR) topped the gainers' list, rising 26.8% last week. China Yuchai International ( CYD - Get Report) followed, gaining 17%. The company reported 24.7% increase in revenue to $2.5 billion for 2010 and 79.9% rise in net income to $170.6 million. Yanzhou Coal Mining ( YZC) accumulated 16% at close last week. The company announced dividend payment of RMB 0.59 per share for fiscal year 2010 last week. UTStarcom ( UTSI - Get Report) and AirMedia Group ( AMCN) were up 15.2% and 14.9%, respectively. AirMedia recently announced that its board approved a share repurchase program up to $20 million within two years from March 21, 2011. China Shen Zhou Mining & Resources ( SHZ) added 10.3%. The company reaffirmed its 2011 guidance last week and forecasts net revenue at $38 million on net income of $11 million. Internet stocks Sohu.com ( SOHU) and Baidu ( BIDU - Get Report) grew 10% and 2.9%, respectively. In fact, a research report by Bedford, which cites a study by McKinsey predicting China's internet population will grow to 750 million in 2015, provided impetus for these two stocks. The report estimates that China's internet market will continue to grow with almost six million people going online for the first time every month in China. In a separate development, industry analysts believe that Sohu has been gaining largely on web video traffic and advertisements. LJ International ( JADE) was up 8.8% at close last week after reporting attractive results for 2010. Last week, LJ reported net income of $13 million or 49 cents per share, compared to $3.7 million or 15 cents per share in 2009. Revenue rose 27% to $140.5 million. The company guides 2011 first quarter revenue at $40 million and net income at $3 million, or 10 cents per share. Advanced Battery Technologies ( ABAT) was at the helm of losers last week, down 43.4%, despite reporting higher revenue and net income for 2010, Telestone Technologies ( TSTC) plunged 15.3% at the end of the past week.
Food stocks Feihe International ( ADY) and HQ Sustainable Maritime Industries ( HQS) fell 14.3% and 11.2% last week, respectively. Agriculture stocks Agria ( GRO) and AgFeed Industries ( FEED) shed 6.6% and 3.1%, respectively. Airline stocks China Eastern Airlines ( CEA) and China Southern Airlines ( ZNH) erased 5.5% and 5% in value last week, respectively. India: Winners and Losers Dr. Reddy's Laboratories ( RDY) emerged top gainer at close last week, up 7%. The Indian generic drug company recently announced that it has completed the acquisition of Glaxo Smith Kline's Bristol plant. Promius Pharma, a unit of Dr. Reddy's, has formed a partnership with Valeant Pharmaceuticals International to market Cloderm Cream in the U.S. Banking stocks ICICI Bank ( IBN) and HDFC Bank ( HDB) advanced 6.2% and 4.9% during the past week, respectively. Last week, HDFC announced that it opened 275 branches in the current fiscal year taking the total count to 2,000 Indian Internet service provider Sify Technologies ( SIFY) gained 6%. The company announced last week that the 15,000 km long, 3.84 Tbps connection between Europe, Middle East and India known as Europe-India-Gateway (EIG) is almost complete. Sify is partnering Saudi Telecom, a member of the consortium of 16 companies investing in the EIG project. Extending gains for the fourth consecutive week, Rediff.com ( REDF) rose 5.6%. Infosys ( INFY) accumulated 5.6% last week. The company is scheduled to release its fourth quarter and annual results on April 15, 2011. Tata Communications ( TCL) was up 5.4% at close last week. A week ago, research analysts at HSBC upgraded TCL's shares to neutral from underperform. Wipro ( WIT) continued to extend gains for the second consecutive week and rose 5.4% last week. Wipro recently announced that its unit Wipro Technologies has entered into an agreement with Science Applications International Corporation to acquire one of its units for an all cash consideration of approximately $150 million. Mahanagar Telephone Nigam ( MTNL) advanced 5.3%. Dismissing the fear of state-owned telcos losing out to private players after the introduction of mobile number portability, MTNL last week said that it has not been affected since the new regime was set up in January. Sterlite Industries India ( SLT) closed 4.9% higher after Zacks Investment Research reaffirmed its neutral rating on the stock early last week. Cognizant Technology Solutions ( CTSH) and Tata Motors ( TTM) were up 3% each last week.
Of the 16 ADRs traded last week, Syntel ( SYNT) was the sole decliner, down 0.2%. The company went ex-dividend on March 29, 2011with shareholders eligible for a dividend of 6 cents per share. Brazil: Winners and Losers Braskem ( BAK) topped the advancers' list last week, gaining 10.7%. Reflecting its successful merger with Quattor, Moody's raised Braskem's rating to Baa3 from Ba1 with a stable outlook. For similar reasons, Standard & Poor's also raised the company's rating to BBB- from BB+ assigning a stable outlook. Last week, the company's joint venture Braskem-Idesa selected Technip as technology provider for its 1,050 kilotons per year ethane-based ethylene cracker. Companhia Energetica de Minas Gerais (CEMIG) ( CIG) was up 10.2% after the company announced a supplementary dividend payment of BRL 1.75 per share. Companhia Brasileira De Distribuicao ( CBD) accumulated 8.9% past week, reversing its earlier week's losses. The company went ex-dividend on April 1, 2011 with shareholders eligible for a dividend of 25 cents per share. Analysts at Raymond James upgraded CBD's shares to buy from outperform. Major banking stock Banco Bradesco ( BBD) gained 8.8%. Meanwhile, the bank has sought the Brazilian central bank's permission to increase the number of voting shares held by foreigners from 14% to 45% as it plans to adopt mechanisms that increase liquidity. Another banking major, Itaú Unibanco Holding ( ITUB) piled 7.9% at close last week. After Zacks Investment Research upgraded Brasil Telecom ( BTM) to outperform from neutral, the stock jumped 8.6% last week. Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP ( SBS) was up 8.3% after it announced impressive 2010 results. The company reported net operating revenue of $5.7 billion, up 7.6% from 2009. Meanwhile, EBITDA escalated 18.2% to $1.97 billion from previous year. Companhia Paranaense de Energia - COPEL ( ELP) notched up a 7.9% gain. Last week, the company revealed its dividend proposal at a value of BRL 0.28328 per ordinary share, BRL 1.04782 per class 'A' preferred share, and BRL 0.31167 per class 'B' preferred share. Meanwhile, out of its total own capital interest distribution of BRL 200 million, COPEL plans to pay the remaining BRL 115 million to its shareholders. Companhia de Bebidas das Americas - AmBev ( ABV), CPFL Energia ( CPL) and Gafisa ( GFA) were up 6.7%, 6.6% and 6.3% respectively. Emerging as sole loser last week was Net Servicos de Comunicacao ( NETC), down 1.2%. Zacks Investment Research reaffirmed its neutral rating on the stock with a current price target of $11.