Chinese Stocks in the U.S.: Digital TV, Sina, Sinopec, Yingli
The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, fell 0.4 percent to 428.55. The American Stock Exchange China Index dropped 0.5 percent to 248.05. The Shanghai Composite Index was little changed at 2,678.49.
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. (STV US), the country’s largest supplier of smart cards for digital television access, advanced 5.2 percent, the most in almost a month, to $5.04. Intel Corp.’s venture-capital arm, Intel Capital, invested in China Digital’s research unit JoySee Technology Co., according to a joint statement by the two companies. Intel Capital also will appoint a representative to JoySee’s board of directors, the statement said.
China Petroleum and Chemical Corp. (SNP US), the country’s biggest refiner known as Sinopec, slid 0.4 percent to $95.80, the lowest since June 23. Sinopec and BP Plc started maintenance at their joint ethylene plant in Shanghai, the company’s parent, China Petrochemical Corp., said in its online newsletter.
Sina Corp. (SINA US), the owner of China’s third-most visited website and the Twitter-like Weibo service, slid for the fourth day, losing 1.9 percent to a five-week low of $99.87. The company will report second-quarter financial results after trading closes Aug. 17, according to a statement distributed by PR Newswire.
UTStarcom Holdings Corp. (UTSI US), an Internet-based TV service provider, jumped 7.3 percent to a three-week high of $1.47. The company provided products for a fiber-optic network service that India’s Bharat Sanchar Nigam Ltd. started in July, UTStarcom said in a statement distributed by PR Newswire.
Yingli Green Energy Holding Co. (YGE US), China’s fifth- largest maker of solar modules, retreated 4.6 percent to $6.82, the lowest since April 28. The company narrowed its forecast for second-quarter shipment growth to between 35 percent and 37 percent. Its previous estimate was for an increase of more than 30 percent. Yingli also confirmed its guidance for a “low-to- middle 20s” percent gross margin for the second quarter, according to 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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