The honeymoon for Chinese stimulus appears over as the short covering in the Asian markets seems to have come to a halt after euro zone worries began to reemerge late in the U.S. trading session.
Markets took a breather from yesterday’s sell-off with most eyes looking forward to Apple’s earnings. Here at Emerging Money, we’re a bit more preoccupied with action around the world, such as new Chinese small-cap scandals, more Indian telecom regulations, and Brazilian interest rate concerns.
There’s a fresh scandal brewing for the troubled Chinese small-cap sector as annual earnings reports come in over the weeks ahead.
Chinese solar manufacturer Trina Solar Limited (TSL, quote) and actor Patrick Dempsey announced a new philanthropic initiative today to bring affordable clean energy to communities around the U.S. The project will involve donating solar modules to local schools, health clinics, and nongovernmental organizations, while building the infrastructure to sustain the investment.
Trina Solar Limited (TSL, quote) today announced the establishment of two new Sales and Project Development Offices in Chengdu and Urumqi, China. The new offices are placed to capitalize on the China National Development and Reform Commission’s decision to develop photovoltaic plants in these regions.
Solar stocks have jumped up in the last few weeks, partially due to a Deutsche Bank report suggesting they are undervalued. However, Gilford Securities analyst Nimal Vallipuram warns that the rally is temporary, and urges investors to “stay on the sidelines.”
China’s Ministry of Commerce is considering including solar products such solar panels and solar water heaters in its home appliance subsidy scheme for rural buyers in hopes to boost domestic consumption of solar companies and the green industry as a whole.
News that Germany is shutting down its 17 currently licensed nuclear power plants over the next 11 years gave the solar power group a lift today — and should provide upside to come.