Bloomberg News

Chinese Stocks in the U.S.: 51job, Sinopec, Suntech, Yingli

October 21, 2011

Oct. 21 (Bloomberg) -- The Bloomberg China-US 55 Index of the most-traded Chinese equities in the U.S. gained for the first time in three days, rising 1.5 percent. The Shanghai Composite Index retreated 0.6 percent to 2,317.28.

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.

51job Inc. (JOBS US), the China-based worker-recruitment provider, soared 7.2 percent, the most since Aug. 9, to a one- week high of $44.09. The company was raised to “outperform” from ”market perform” at William Blair & Co. by equity analyst Timothy McHugh.

China Unicom (Hong Kong) Ltd. (CHU US), the nation’s second-largest mobile-phone carrier, gained 0.1 percent, the fourth day of increases in five, to $19.42. The company filed an application for a permit to use iPhone 4S in its network to the Ministry of Industry and Information Technology, the Chinese- language Guangzhou daily reported, citing unidentified people at China Unicom.

Chinese solar manufacturers, which last year produced more than 55 percent of the world’s panels, say SolarWorld AG’s U.S. trade complaint is one-sided. SolarWorld’s U.S. unit and six other panel manufacturers filed a complaint Oct. 19 with the International Trade Commission seeking to slap duties on more than $1 billion of Chinese imports.

Suntech Power Holdings (STP US), the world’s largest maker of solar panels, slid 3.3 percent to $2.07, the lowest in more than two weeks.

Yingli Green Energy Holding Co. (YGE US), China’s fifth- largest maker of solar modules, lost 4.5 percent to $3.58. The company, in a statement today responding to SolarWorld’s complaint, said it holds itself to “fair international trade practices” and is “confident” in its position.

LDK Solar Co. (LDK US), a maker of solar cells based in China’s Jiangxi province, trimmed 4.2 percent to $3, the lowest since Oct. 4.

Oil futures rose for the first time in three days on hopes that European leaders will reach a deal to contain the region’s debt crisis. The contract for December delivery climbed 1.6 percent to settle at $87.40 a barrel on the New York Mercantile Exchange.

PetroChina Co. (PTR US) the nation’s biggest oil producer, added 1.6 percent to $122.93.

Cnooc Ltd. (CEO US), China’s largest offshore energy producer, advanced 2.1 percent to $169.95. The company plans to invest 13.8 billion yuan ($2.2 billion) in a phosphorus chemical project in Guizhou province, China News Service reported on its website.

China Petroleum and Chemical Corp. (SNP US), the country’s biggest refiner known as Sinopec, rose 1.6 percent to $92.89. China’s diesel stockpiles fell about 13 percent at the end of September from a month earlier, the most in at least 20 months, as refiners shut plants for repairs and lowered output to cut losses from processing crude, according to a newsletter by the official Xinhua News Agency.

--Editors: Glenn J. Kalinoski, Richard Richtmyer

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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