Chinese Stocks in the U.S.: China Digital, China Yuchai, LDK
The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, fell 0.7 percent to 431.33. The American Stock Exchange China Index slid 0.9 percent to 253.86. The Shanghai Composite Index was little changed at 2,858.459.
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.
China Digital TV Holding Co., Ltd. (STV US) surged 11 percent, the most since March 21, to $6.46. The country’s largest supplier of smart cards for digital television access declared a special cash dividend of 56 cents a share.
China Yuchai International Ltd. (CYD) plunged 14 percent to $21.03, the lowest level since October. China’s largest maker of diesel engines said President Boo Guan Saw will resign to spend more time with his family. Piper Jaffray cut the stock’s rating to “neutral” from “overweight.”
LDK Solar Co (LDK US), a Chinese solar wafer maker, tumbled 12 percent, the most since October, to $7.26. The company postponed its proposed sale of U.S. dollar-denominated senior notes due to higher interest rates. Kaufman Brothers LP downgraded the stock to “hold” from “buy.”
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