Solar Companies Tumble as Profit Outlook Sours: China Overnight

LDK Solar Co. and Suntech Power Holdings Co. led declines in Chinese companies trading in New York last week, on prospects the nation’s solar makers won’t report a profit this year.

The Bloomberg China-US Equity Index of the most-traded Chinese companies in the U.S. fell for a fourth week, the longest losing streak in six months. The gauge lost 0.1 percent to 90.60. LDK, the world’s second-largest maker of wafers, sank to the lowest price on record while Suntech, the world’s biggest solar manufacturer, slid to the weakest level in seven months. Semiconductor Manufacturing International Corp. declined to trade at a 3.3 percent discount to the Hong Kong shares.