NEW YORK ( Thestreet) -- Major global indices eroded value or remained relatively flat last week, except China's Shanghai Composite Index, which rose 4.2%. The slippage in India's Nifty and Brazil's Bovespa was 1.7% and 0.8%, respectively. At close last week, the Dow Jones edged up 0.03%, while the S&P 500 fell 0.3%.China: Winners and Losers American Oriental Bioengineering ( AOB) emerged major gainer last week, increasing 24.7%. TheStreet Ratings recommends a hold on the stock, based on the company's strong financial position. China Automotive Systems ( CAAS) accumulated 21.6% last week after reporting 20% increase in fourth quarter revenue to $100.5 million, topping analysts' estimate of $90 million. For full year 2010, the company recorded 35.3% and 58.1% increase in total revenue and income from operations to $345.9 million and $54 million respectively. For 2011, the company estimates revenue to grow by 20%. China Shen Zhou Mining & Resources ( SHZ) added 18.7%. Shares of rare earth metal companies rebounded during the past week after Colorado Congressman Mike Coffman introduced the Rare Earth Supply-Chain Technology and Resource Transformation (RESTART) Act of 2011. This action will create another government department that will revitalize a vital industry. New Oriental Education & Technology Group ( EDU) rose 14% after Goldman Sachs upgraded the stock to conviction buy from its earlier neutral rating. Perfect World ( PWRD) and Spreadtrum Communications ( SPRD) were up 13% and 11.6% last week, respectively. Internet stocks, Ctrip.com International ( CTRP), Sina ( SINA), Sohu.com ( SOHU) and NetEase.com ( NTES) gained 9.7%, 7.1%, 6% and 4.5% respectively. Leading the pack of losers, Duoyuan Global Water ( DGW) plunged 41.3%, as investigations into possible breaches of fiduciary duty and other violations by some officers and directors at Duoyuan began last week. New Oriental Energy & Chemical ( NOEC)followed, declining 27.1%. Biotechnology stocks Sinovac Biotech ( SVA) and 3SBio ( SSRX) fell 7.3% and 6.0% last week, respectively. Zacks Investment Research has downgraded Sinovac to underperform from the earlier neutral rating. Alternative energy stocks such as China Technology Development Group ( CTDC) and Gushan Environmental Energy ( GU) shed 9.3% and 8% last week, respectively. India: Winners and Losers Sify Technologies ( SIFY) emerged top gainer at close last week, up 15.6%. Last week, an analyst at smallcapinvestor.com said Sify is poised for long-term growth based on the company initiatives like foraying into new geographies and remarkable growth in the industry. Snapping it earlier week's losses, Syntel ( SYNT) accumulated 4.8%. Rediff.com ( REDF) gained 3.1% last week. Tata Communications ( TCL) rose 1.8% at close last week. Marking the industry's first fully synchronized virtual global arts program, Cisco, National Dance Institute, and Tata Communications collaborated to allow NDI to conduct synchronized virtual global arts programs via its telepresence environment -- connecting children from all over the world.