Bloomberg News

Chinese Stocks in the U.S.: Sinopec, Suntech Power, Trina Gain

October 04, 2011

Oct. 4 (Bloomberg) -- The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, rose 1.6 percent, the first gain in five days, to 344.10. The New York Stock Exchange China Index added 1.4 percent to 208.99. Markets in China are closed this week for a holiday.

The following companies were among the most active Chinese shares in New York trading. Stock symbols are in parentheses and prices are as of the close of trading at 4 p.m. New York time.

Oil futures fell to a one-year low for a third day in New York amid concern that fuel demand will drop as investors lose confidence in the U.S. and European economies.

Cnooc Ltd. (CEO US), China’s largest offshore energy producer, dropped 1.8 percent to $150.35, the lowest since Sept. 22. “Over 80 percent of Cnooc’s production is oil, so margins will get squeezed,” said Neil Beveridge, a Hong Kong-based analyst at Sanford C. Bernstein & Co.

PetroChina Co. (PTR US) the nation’s biggest oil producer, fell 2 percent to a one-week low of $116.73.

China Petroleum and Chemical Corp. (SNP US), the country’s biggest refiner, known as Sinopec, climbed 2.8 percent to $98.43, the highest since Sept. 7.

Germany’s orders for new photovoltaic solar systems are set to soar in October and November, generating a surge in demand that may be difficult for major suppliers to accommodate, according to a statement from HIS Inc., an energy information provider. Global installations of photovoltaic solar systems will rise 22 percent in 2011 and 14 percent in 2012, the statement said.

Suntech Power Holdings (STP US), the world’s largest maker of solar panels, jumped 21 percent to $2.05.

JinkoSolar Holding Co. (JKS US), a manufacturer of solar cells and modules, surged 21 percent to a five-day high of $5.72.

JA Solar Holdings Co. (JASO US), the world’s largest solar- cell maker by capacity, soared 13 percent to $1.70.

Trina Solar Ltd. (TSL US), China’s largest solar panel maker by market capitalization, leaped 17 percent to $6.51, a five-day high.

Yingli Green Energy Holding Co. (YGE US), China’s fifth- largest maker of solar modules, soared 14 percent to $3.28.

--Editors: Richard Richtmyer, Brendan Walsh

To contact the reporter on this story: Belinda Cao in New York at lcao4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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