ADRs in Focus: China ADRs

Wall Street retreated after Bernanke predicted that banks' mortgage investments may lose more value and said the housing and credit crises have stifled economic growth.

The Bank of New York China ADR Index tracked the U.S. market, declining 5.63 points to 481.03. The index is down around 16 percent year-to-date. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.

China's Trina Solar Ltd. fell with several other solar stocks, losing $1.06, or 2.8 percent, to $36.83.

China Southern Airlines Co. shed $1.91, or 3.8 percent, to $48.14.

Sinopec Shanghai Petrochemical Co., one of the largest chemical companies in the People's Republic, lost $1.95, or 4.1 percent, to $45.84.

On the rising side, shares of New Oriental Education & Technology Group rose $4.75, or 8.8 percent, to $58.95. The Beijing-based education company said it will buy back up to 1 million shares in 2008.

Baidu.com Inc., a Chinese online search engine operator, said fourth-quarter earnings rose 79 percent as online marketing revenue more than doubled. Shares advanced $3.41 to $264.50.

And Aluminum Corporation of China Ltd. extended gains from Wednesday, advancing $1.19, or 2.9 percent, to $42.25.