Chinese solar ADRs rise in light of Beijing's economic support plans

GCL Technology Holdings

16/03/2022 14:47

** U.S.-listed shares of China-based solar silicon maker
Daqo New Energy  DQ.N  soar as much as 14.3%
    ** ADRs of China-based solar module maker JinkoSolar  JKS.N 
jump as much as 10.1%
    ** DQ and JKS track other foreign-listed Chinese stocks
which jumped after selloffs in previous sessions as Beijing
vowed to roll out support for the economy and keep markets
stable  urn:newsml:reuters.com:*:nL3N2VJ2MH  urn:newsml:reuters.com:*:nL2N2VJ0AW  urn:newsml:reuters.com:*:nL3N2VJ2F4
    ** Shanghai-listed LONGi Green  601012.SS , the world's
biggest solar manufacturer, closed 4.7% higher; HK-listed
GCL-Poly  3800.HK , one of the biggest polysilicon suppliers in
China, closed 14.0% higher
    ** Other U.S. solar stocks also gain as major indices rally
on expectations of rate hikes  .N 
    ** ReneSola  SOL.N  and SolarEdge  SEDG.O  climb 3.0% and
0.2%, respectively
    ** First Solar  FSLR.O , Canadian Solar  CSIQ.O , Maxeon
Solar Technologies  MAXN.O  and Sunrun  RUN.O  up between 0.9%
and 8.2%
    ** Separately, the U.S. Commerce Department is set to decide
by March 25 whether to investigate potentially circumvented
tariffs on solar imports from certain Asian countries
 urn:newsml:reuters.com:*:nL1N2UK2CZ
    ** A solar manufacturers trade association said on Tuesday
that an investigation could expose solar imports to retroactive
duties of 50% to 250%, as per a BBG report 

 (Reporting by Ruhi Soni and Rithika Krishna in Bengaluru;)
 ((Ruhi.Soni@thomsonreuters.com;
Twitter: https://twitter.com/ruhithere;))