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Suntech Plunges as Recovery Concerns Sink ADRs

Chinese equities fell from a two-week high in New York on concern a recovery in the world’s second-largest economy may be losing steam. Suntech Power Holdings Co. sank after delaying its bond repayment deadline.

The Bloomberg China-US Equity Index of the most-traded Chinese companies in the U.S. dropped 0.4 percent to 94.69 yesterday, declining the first time in three days. Suntech plunged 8.7 percent and Yingli Green Energy Holding Co. fell for a third day. China Southern Airlines Co. sank the most in three weeks while Vipshop Holdings Ltd. jumped as it is set to complete a secondary offering.