Investing
Chinese Solar Stocks Take Off (YGE, JASO, CSIQ, STP, TSL)
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Chinese Solar stocks, as measured by Tickerspy’s Chinese Solar Stocks Index (*CHSOL), are up over 4.5% today. The solar sector has performed poorly in recent weeks as a policy shift in Germany, the world’s largest solar market, will be reducing the country’s feed-in-tariff that promote the use of solar power. Today, the Christian Social Union, a major German political party, announced that will push for a delay in reducing incentives to use solar power, a move has driven up shares in nearly every publicly traded solar company.
Chinese solar stock, in particular, have performed well. Chinese companies are better equipped to withstand a more competitive market for solar power in Germany due to their low cost of production. Today Jefferies & Co. analysts Paul Clegg upgraded the entire Chinese solar industry. Yingli Green Energy Hold. Co. (NYSE: YGE) rose the most out of the group, gaining over 6.7% today.
Garrett W. McIntyre
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