Rochester, NY 6/24/2009 12:02:16 AM
Mid Day Report - JASO - Chinese Solar Market Hotter Than The Sun - Sourced WhisperFromWallStreet.com
JA Solar Holdings, Co.
Mid Day Report - JASO - Chinese Solar Market Hotter Than The Sun - Sourced WhisperFromWallStreet.com
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JA Solar Holdings, Co., Ltd.,JASO
4.25 Down 0.13 (2.97%) 12:54pm ET
Chinese solar stocks led the market higher early Friday amid continued enthusiasm for the Chinese government's support of the technology.
According to a Reuters report Friday, incentives could lure in over $10 billion for solar over the next three years. Investors are lining up behind Chinese firms in anticipation of further government support for the sector. The trend would turn China, already a major producer of solar equipment, into a major market for the technology, likely benefiting Chinese solar players most.
In total, the Chinese Solar Stocks Index is up 5.1% on the day, and it is still beating the S&P 500 by 33.1% over the last month.
Over the last month, ReneSola (NYSE: SOL), JA Solar (NASDAQ: JASO), and Canadian Solar (NASDAQ: CSIQ) are faring the best, with all advancing over 50% during that period.
The Chinese Solar Stocks Index is the top-performing tickerspy Index over the last month by a wide margin, gaining 34.4%.
ABOUT
JA Solar Holdings Co., Ltd., through its subsidiaries, operates as a manufacturer of high-performance solar cells. It offers crystalline silicon solar cells. The company sells its products worldwide to solar manufacturers who assemble and integrate solar cells into modules and systems that convert sunlight into electricity for residential, commercial, and utility-scale power generation. JA Solar Holdings Co., Ltd., formerly known as Ningjin Jinglong Zhong'ao Solar Co., Ltd., was founded in 2005 and is headquartered in Shanghai, China with an additional office in Ningjin, China.
Last Trade: 4.26
Day's Range: 4.11 - 4.55
52wk Range: 1.55 - 20.22
Volume: 5,472,163
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