real-time news and commentary for investors
Monday, Sep 9
Chinese Internet/solar stocks rally following positive export data
- With the Shanghai Composite having risen 3.4% overnight in response to news Chinese exports rose 7.2% Y/Y in August (up from 5.1% in July and easily topping expectations), it's not surprising many volatile Chinese Internet and solar names are adding to their large 2013 gains today.
- AutoNavi (AMAP +18.5%) is easily the biggest Chinese Internet standout. Other winners include YY (YY +8.2%), NQ Mobile (NQ +4.9%) and e-commerce plays Dangdang (DANG +9.5%), LightInTheBox (LITB +3.1%), and Vipshop (VIPS +3.5%).
- Solar standouts include Trina (TSL +4.9%), Daqo (DQ +12.5%), JA Solar (JASO +6.2%), JinkoSolar (JKS +3.9%), Yingli (YGE +3.8%), LDK (LDK +3.2%), and Canadian Solar (CSIQ +2.5%).
- Chinese mobile chipmaker RDA Microelectronics (RDA +10.6%) is also having a very good day.