Bespoke Investment Group, January 10, 2008.
As shown in the chart of China's Shanghai Composite, the index recently held its long-term uptrend, made a double bottom, and broke its short-term downtrend.
While Chinese equity markets have held up well and are up for the year, many Chinese ADRs trading on U.S. exchanges have been hit hard. As shown, CSUN is down 26%, GRRF is down 19.5%, CNTF is down 19% and TSL is down 18.6%. Currently, 72% of the Chinese ADRs that we track are down for the year. Have these ADRs been unjustly punished because they are trading on U.S. exchanges?
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