Trina Leads Solar Slump on German Tariff Cut: China Overnight
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Trina Solar Ltd. led declines in Chinese solar stocks traded in the U.S. as the company reported a larger-than-expected net loss and as Germany plans to cut subsidies for the industry, dimming the outlook for sales.
China’s fifth-largest solar-panel supplier, Trina sank the most in a month after reporting an increased fourth-quarter loss that exceeded analysts’ estimates. Yingli Green Energy Holding Co. and Suntech Power Holdings Co. also helped drive a 0.3 percent drop in the Bloomberg China-US 55 Index of the most-traded Chinese stocks in the U.S. Online book retailer E-Commerce China Dangdang Inc. tumbled to a five-week low.