Shares of solar companies rallied sharply on Thursday on reports that the Chinese government would launch a generous new subsidy for the clean energy systems.
Chinese-based companies were the biggest gainers, with Trina Solar Ltd (TSL.N) up 48 percent at $12.85 per share, followed by Suntech Power Holdings (STP.N), up 47 percent at $11.56, LDK Solar Co (LDK.N), up 39 percent at $8.19, Yingli Green Energy (YGE.N) up 35 percent at $5.62, Solarfun Power Holdings (SOLF.O) up 25 percent at $4.48 and Canadian Solar (CSIQ.O), up 23 percent at $5.95.
Those shares had been hard hit so far this year as financing for new solar projects dried up, but the news that China may move to support the industry spurred hopes that the government could open up its huge market for the industry.
See full Article.
Posts
