Chinese Stocks in the U.S.: NetQin, Suntech Power, Yingli
The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, was unchanged at 441.76. The American Stock Exchange China Index retreated 0.1 percent to 256.54. The Shanghai Composite Index dropped 0.3 percent to 2,701.73.
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 will announce benchmark prices for the state power grid to purchase electricity from photovoltaic projects, China Securities Journal reported, citing an unidentified official with the National Energy Bureau. The purchase prices for solar power will be higher than those for wind-generated electricity and open to local government subsidies, the report said, without giving a specific time for the release.
Suntech Power Holdings (STP US), the world’s largest maker of solar panels, jumped 5.5 percent, the most since March 15, to $7.34.
Yingli Green Energy Holding Co. (YGE US), China’s fifth- largest maker of solar modules, gained 2.3 percent, the most in a week, to $7.24.
JA Solar Holdings Co. (JASO US), the world’s largest solar- cell maker by capacity, advanced 1.9 percent to $4.80.
NetQin Mobile Inc. (NQ US), a Chinese mobile-phone software provider, surged 6.3 percent to $7.72, the highest level in more than two months. The company signed a framework agreement with Spain-based Telefonica SA to provide mobile Internet services to the phone operator’s subscribers, it said in a statement distributed by PR Newswire.
To contact the reporter on this story: Belinda Cao in New York at Lcao4@bloomberg.net
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