LDK Tops Solar Surge as Seaspan Declines: China Overnight

13 Feb. 2013 by

BLOOMBERG - Solar stocks led gains among Chinese equities in New York on prospects expanding global demand for alternative energy will ignite sales.

The Bloomberg China-US Equity Index of the most-traded Chinese shares in the U.S. added 0.2 percent to 96.33 yesterday. LDK Solar Co., the world’s second-largest maker of wafers used to make solar cells, jumped 13 percent and Yingli Green Energy Holding Co. surged to the highest level since May. NQ Mobile Inc., an Internet security company in Beijing, rose to a three- month high while container ship operator Seaspan Corp. dropped the most in three months.

Global solar capacity increased beyond 100 gigawatts in 2012, when Germany was the largest solar market with 7.6 gigawatts of new installations, according to a report by Bloomberg Industries. Wacker Chemie AG, a Munich-based polysilicon producer, said Feb. 11 that it’s boosting output as orders from solar makers exceed production. China, the world’s biggest supplier of solar modules, has provided subsidies and assistance to manufacturers amid a global supply glut.

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