ADRs in Focus: Quinsa Shares Jump

The Bank of New York Composite ADR Index which includes shares of companies based in China, Russia, Hungary and more gained 1.57 points to 191.14. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.

Quinsa took part in the holiday cheer after a UBS Pactual analyst gave a nod to investors, upgrading shares to "Neutral" from "Sell." The Argentine company's stock spiked $14.74, or 22 percent, to $81.75 after setting a record high of $82.50 earlier in the day.

Shining bright like a comet were Chinese solar stocks, energized by Solarfun Power Holdings Co. Ltd.

Solarfun rose $4.39, or 15.3 percent, to $33.15 after hitting an all-time high of $33.93 earlier in trading. The stock has more than doubled in value since Thanksgiving.

Yingli Green Energy Holding Co. Ltd. blitzed $2.24 higher, or 5.9 percent, to $40.09, just short of an all-time high of $40.10 earlier in the day.

Suntech Power Holdings Co. Ltd. gained $2.04, or 2.9 percent, to $87.20 and touched an all-time high of $88.65.

China Sunergy Co. Ltd. added 18 cents to $11.04.

Telecommunications ADRs continue to create a clatter, especially in the emerging markets, where acquisition news sent the sector's shares to the roof top. The Bank of New York International Telecom 35 ADR Index added 12.06 points to 1,492.53.

Russia's Vimpel-Communications gained $3, or 7.2 percent, to $44.98, after hitting an all-time high of $45.47 earlier Monday. On Friday Vimpel said it would buy Internet services company Golden Telecom Inc. for $4.3 billion.