Wednesday, August 20, 2008

ADR REPORT: Potential Chinese Stimulus Plan Boosts Shares

ADR REPORT: Potential Chinese Stimulus Plan Boosts Shares


"The Asian index ended up 1.5% at $136.80, buoyed by a claim that China is considering an economic stimulus package of up to CNY400 billion ($58.4 billion). Among the companies that rose in China were China Life Insurance Co. Ltd. (LFC), up 5% to $53.25, Yingli Green Energy Holding Co. Ltd. (YGE), up 9.7% to $16.02, and Baidu.com Inc. (BIDU), up 4% to $321.22.


Also in China Suntech Power Holdings Co. Ltd. (STP) jumped 12% to $41.75 after it reported a 58% increase in second-quarter net income as demand continues to be strong for solar power. The Chinese producer of photovoltaic panels - the world's largest by revenue terms - also raised its full-year revenue guidance and sees current-quarter sales above analysts' forecasts."



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