China ADRs Soar

The graph below measures the performance of the Shanghai Composite Index against a basket of Chinese ADRs selected by Bespoke Investment from Jan. 2, 2009 through Dec. 31, 2009. The basket of 57 stocks, which includes all listed ADRs with a market cap of more than $250 million as of June 30, 2009, holds among other companies, China's version of Google, Baidu (BIDU), oil and gas explorers Petrochina (PTR), the country's biggest company as ranked by Forbes, and Sinopec (SHI), its fourth largest. It also includes China Telecom (CHA), the country's fifth largest company. It does not include the country's second or third biggest companies, Bank of China or China Construction; they are not listed in the U.S. (See related story on pg. 22.)