Chinese Solar Stocks Slide After China 'Crash'

Shares of China-based solar stocks are down across the board today after the Shanghai stock market fell 6.7% overnight on fears that the country’s economic growth could slow due to a slowdown in lending growth. Acording to Bloomberg, former Morgan Stanley Asian economist Andy Xie said the China market could drop another 25%, on top of a 22% slide in August.

Among the China-based solar names:

JA Solar (JASO) is down 14 cents, or 3.9%, to $3.48.
LDK Solar (LDK) is down 32 cents, or 3.5%, to $8.92.
China Sunergy (CSUN) is down 29 cents, or 6.3%, to $4.29.
Suntech (STP) is down 78 cents, or 5.2%, to $14.27.
Canadian Solar (CSIQ) is down 60 cents, or 4%, to $14.59.
Yingli Green Energy (YGE) is down 46 cents, or 4.2%, to $10.56.
ReneSola (SOL) is down 9 cents, or 1.6%, to $5.64.

Labels: Bearish, China, CSIQ, CSUN, JASO, LDK, Solar Stocks, STP

posted by Ertai at 3:43 PM