Chinese Stocks in the U.S.: Shanda, Sina, Suntech, Trina Fall
Stock Chart for Shanda Interactive Entertainment Ltd (SNDA)
The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, fell 3 percent to 350.27. The New York Stock Exchange Arca China Index sank 3 percent to 210.29. Markets in China were 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.
China is likely to roll out measures soon that would step up management of social media, which may include requiring users of microblogs to register using their real names, the Hong Kong- based South China Morning Post reported, citing Song Jianwu, dean of the School of Journalism and Communication at China University of Political Science and Law.
Sina Corp. (SINA US), the owner of the Twitter-like Weibo service, fell 6.3 percent, the most in six trading sessions, to $73.81.
Shanda Interactive Entertainment Ltd. (SNDA) , the owner of China’s third-biggest provider of online games, slid 4 percent to $32.48.
Sohu.com Inc. (SOHU) , the operator of China’s fifth-most visited website, retreated 2.8 percent to $54.51.
Germany may reduce solar feed-in-tariffs, which require utilities to pay generators set rates over fixed periods of time, by more than the 15 percent cut that has been discussed, Daniel Ries, an equity analyst at Collins Stewart LLC wrote in a research note, citing comments Chancellor Angela Merkel made suggesting reductions in solar subsidies.
Suntech Power Holdings (STP US), the world’s largest maker of solar panels, fell 8.2 percent, the most in four days, to $2.34.
Trina Solar Ltd. (TSL) , China’s largest solar panel maker by market capitalization, plunged 25 percent to $6.02, the most in three years.
JinkoSolar Holding Co. (JKS US), a Chinese manufacturer of solar cells and modules, lost 7.2 percent to $6.30. The company completed the first phase of a safety upgrade at a plant in Haining, China, where fluoride in a temporary waste-storage unit leaked into a river in August after heavy rains, it said in a statement through PR Newswire.
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