Bloomberg News

Chinese Stocks in the U.S.: Canada Solar, China Eastern, Shanda

October 17, 2011

Oct. 17 (Bloomberg) -- The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, fell 2 percent to 368.12. The American Stock Exchange China Index dropped 1.4 percent to 219.52. The Shanghai Composite Index added 0.4 percent to 2,440.4, the highest in three weeks.

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.

Canadian Solar Inc. (CSIQ US) fell 14 percent, the most in two months, to $3.27. The Chinese solar panel maker declined after saying gross margin will drop more than analysts had forecast. The shares of other solar companies also fell.

JA Solar Holdings Co. (JASO US), the world’s largest solar- cell maker by capacity, slid 8 percent to $1.72.

Trina Solar Ltd. (TSL US), China’s largest solar panel maker by market capitalization, fell 6.7 percent to $6.72.

Yingli Green Energy Holding Company Ltd. (YGE US), China’s fifth-largest maker of solar modules, slid 7.4 percent to $3.61.

China Eastern Airlines Corp. (CEA US) fell 4.1 percent, the most in two weeks, to $17.38. China’s second-biggest carrier scrapped an order for 24 Boeing Co.’s 787 Dreamliners in favor of 45 smaller 737s after the larger jet’s delivery was delayed and a weakening economy hurt demand for long-haul air travel, according to a statement to the stock exchange.

Shanda Intercative Entertainment Ltd. (SNDA US) soared 14 percent, the most in six months, to $38.33. The Chinese online game operator rose after Chairman Chen Tianqiao said he would buy all outstanding shares to take the company private.

--Editors: Marie-France Han, Brendan Walsh

To contact the reporter on this story: Veronica Navarro Espinosa in New York at vespinosa@bloomberg.net;

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


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