NEW YORK ( TheStreet) -- Emerging market indices eroded significant value last week on relentless selling, fueled by Greece's growing debt concerns and slowing economic growth in Europe. This resulted in mixed performance in world markets.

India's Nifty slumped 4.0% to emerge top loser, China's Shanghai Composite Index followed, down 3.1%. Brazil's Bovespa shed 2.6%. Meanwhile, the S&P 500 and the Dow Jones snapped the prior week's losing streak and edged up 0.04% and 0.44%, respectively, driven by strong economic data that signaled a slow but steady recovery.

For the week ended June 15, according to data compiled by international fund tracking firm EPFR Global, investors withdrew $811 million from emerging-market equity funds, while U.S. equities attracted $9.8 billion inflow. Meanwhile, the MSCI Emerging Markets Index slipped 2.2% for the week ending June 18 with the technology index shedding the maximum.

Indian stock markets were the top losers in the emerging-market group. Syntel ( SYNT) was the only gainer, up by a marginal 0.9%. India ( REDF) was at the helm of losers with an 8.4% decline. Cognizant Technology Solutions ( CTSH) and iGATE ( IGTE) followed, erasing 7.3% and 7%, respectively.

On the Shanghai Composite Index, stocks from the electronic components and equipment space such as Harbin Electric ( HRBN), A-Power Energy Generation Systems ( APWR) and Fushi Copperweld ( FSIN) were the biggest decliners last week, plunging 48.4%, 17.8% and 17.3%, respectively.

China's solar companies posted substantial gains last week after Google ( GOOG) announced its biggest renewable energy investment of $280 million to finance as many as 9,000 installations by U.S. solar company SolarCity, benefitting solar companies across the globe. Also, Chinese banks announced midweek they are providing $10 billion in funding to Chinese companies toward construction of European solar projects. Additionally, GTM Research forecasts that global solar installations will rise from about 17,400 megawatts in 2010 to 20,900 megawatts in 2011. Most of these installations will take place in China, as per a report released by HSBC Research.

Meanwhile, top losers on Brazil's Bovespa index were Gafisa ( GFA) and Braskem ( BAK), relinquishing 9.2% and 6.9%, respectively. Communications stocks, Tele Norte Leste Participacoes ( TNE), Brasil Telecom ( BTM) and TIM Participacoes ( TSU) lost 5.6%, 4.1% and 3.6%, respectively.

These stocks are stacked based on last week's gains, least to highest.

1. Embraer ( ERJ) engages in the manufacture of commercial aircraft and is a supplier of defense aircraft to the Brazilian Air Force and defense departments in Europe, Asia and Latin America. Besides, ERJ has also launched a line of executive jets based on one of its regional jet platforms and new executive jets in the entry-level, light, ultra-large and mid-light/mid-size categories. The stock accumulated 3.9% last week.

Of the 12 analysts covering the stock, 58% rated it a buy while 33% suggest a hold. A Bloomberg consensus expects the stock to gain an average 23.0% to $39.00 in the upcoming 12 months.

The company announced last week that its board of directors has approved the payment of interests on own capital for the second quarter of 2011 in the gross amount of $45.2 million corresponding to 6 cents per share, payable from July 22.

Based on Embraer's regional jet sales opportunity pipeline and the size of its option book, Goldman Sachs rated a buy on the stock last week. Moreover, the investment firm forecasts that the company will outperform through the second half of 2011 as most of these potential orders and options are converted.

2. Companhia Paranaense de Energia -- COPEL ( ELP), a Brazil-based energy company, operates an integrated complex of 18 power plants, comprising of 17 hydroelectric plants. Through its wholly owned subsidiaries, the company aims to generate, transmit, distribute, commercialize energy and provide energy-related services. The stock gained 3.4% last week.

Of the six analysts covering the stock, 50% recommend a buy on the stock while the remaining suggest a hold. There are no sell ratings on the stock. A Bloomberg poll expects the stock to gain an average 9.7% to $29.00 in the upcoming 12 months.

The company announced last week that its board has approved the purchase of a 49.9% shareholding in a wind power electrical generating system owned by Dreen Brasil Investimentos e Participacoes. It will acquire stakes in wind farms known as Farol (20 meagwatts), Olho d'Agua (30 megawatts), Sao Bento do Norte (30 megawtts) and Boa Vista (14 megawatts). All these undertakings are currently in the implementation phase.

3. Trina Solar ( TSL), a China-based integrated solar-power products manufacturer, produces standard monocrystalline photovoltaic (PV) modules ranging from 165 watts to 240 watts in power output and multicrystalline PV modules ranging from 215 watts to 240 watts in power output. The company sells and markets its products worldwide with a distribution network covering Europe, North America and Asia. At close last week, the stock was up 4.5%.

Of the 28 analysts covering the stock, 64% recommend a buy and 29% rate a hold. Analysts polled by Bloomberg expect the stock to gain an average 45.6% to $29.08 in the upcoming 12 months.

Last week, the company forecast that in the third quarter, due to declining raw material prices and a strong demand for solar products, its gross margins will rebound after a slip in the second quarter. It expects gross margins to increase to mid-20s from low-20s in the second quarter. Meanwhile, it maintains its panel shipments target of 1.75 to 1.8 gigawatts for full year 2011 with U.S. shipments expected to boost from the 2010 level.

4. Yingli Green Energy Holding ( YGE), a vertically integrated photovoltaic (PV) product manufacturer, designs, manufactures and sells PV modules, and designs, assembles, sells and installs PV systems. The company sells PV modules under its brand names and to various markets globally. The stock gained 5.4% during the past week.

Of the 26 analysts covering the stock, 38% rated it a buy and 50% suggested a hold. Analysts polled by Bloomberg expect the stock to gain an average 36.1% to $11.23 over the next 12 months.

Etiron, an independent solar power producer, announced last week a 10 megawatt agreement with Yingli Green for the supply of PV modules for Etrion's 10 megawatt Helios ITA-3 solar project under construction in Puglia, Italy. Construction on the solar project is expected to be completed by August 31, 2011.

5. Suntech Power Holdings ( STP), a solar energy company, designs, develops, manufactures and markets photovoltaic (PV) products. The company also provides engineering, procurement and construction services required for building solar power systems using its own solar modules for some related party and third-party customers. Last week, the stock increased 13.3%.

Of the 39 analysts covering the stock, 21% rated it a buy and 62% suggested a hold. Analysts polled by Bloomberg expect the stock to gain an average 0.61% to $8.16 in the upcoming 12 months.

Trefis commented last week that Suntech's PV module shipments could triple over the upcoming five years. During 2010, the company was the largest supplier of photovoltaic (PV) modules in the world with shipments of 1,522 MW of PV modules.

Suntech announced last week that it plans to enter the solar lease business to compete with venture-backed start-ups such as SolarCity and SunRun. The company believes that this move will increase panel sales by helping installers it partners to stay competitive. The initiative, which has already been launched in California, is likely to expand to six more states by the end of 2011.