For Immediate Release
Chicago, IL – July 22, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Alibaba (NYSE:BABA) Group Holding Limited (BABA),Yingli Green Energy Holding Co. Ltd. (YGE),ReneSola Limited (SOL) and JD.com ( JD).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Thursday’s Analyst Blog:
China Stock Roundup
Markets remained bogged down for most of the week, taking losses until bargain hunters boosted stocks on Thursday. The benchmark index declined on Monday following the release of discouraging official data on home prices. The Shanghai Composite Index continued to take losses on Tuesday following concerns that the resurgence on the property sector was losing momentum. The benchmark index declined again on Wednesday following conflicting signals on China’s economy. The Shanghai Composite rebounded on Thursday after investors sought out beaten down stocks following a long string of losses for stocks.
Alibaba Group Holding Limited (BABA) is reportedly teaming up with SAIC Motor to explore the connected car space. Yingli Green Energy Holding Co. Ltd.’s (YGE) wholly owned subsidiary, Yingli Energy (China) Company Limited, also known as Yingli China, added 50 megawatts (“MW”) to its downstream solar portfolio by finishing work on a project in Datong City, Shanxi Province, China.
Last Week’s Developments
Last Friday, both the Shanghai Composite Index and the CSI 300 closed flat for the day. Surprisingly positive GDP data for the second quarter lessened chances of further stimulus measures from the government, discouraging investors. Over the week, the Shanghai Composite gained 2.2% while the CSI 300 increased 2.6%. The Hang Seng China Enterprises Index moved up 0.4%, gaining 6% over last week.
GDP increased by 6.7% during the second quarter. This exceeded most estimates which were close to 6.6% and higher than the official target of 6.5% for 2016 as a whole. Both retail data and industrial output exceeded expectations. Additionally, a separate report from China’s central bank showed that the most representative gauge of new credit had exceeded most forecasts.
Markets and the Economy This Week
The benchmark index declined by 0.4% on Monday with construction shares and real estate shares leading losses for the day. These stock categories suffered losses following discouraging official data on home prices. New home prices increased in only 55 cities in June, declining from gains in 60 recorded in May.
The Shanghai Composite property sub-index also closed 0.7% lower. In contrast, the Hang Seng gained 0.7%. The Hang Seng China Enterprises Index moved higher for the sixth successive day, touching its highest level in three months.
The Shanghai Composite Index lost 0.2% following concerns that the resurgence on the property sector was losing momentum. Meanwhile, investors were worried about the falling yen, which breached a crucial support level late on Monday. The CSI 300 moved 0.4% lower while the Shanghai Composite property sub-index declined by 0.7% once again.
A sub-index of consumer staples stocks declined despite being the best performing group over the last three months. The Hang Seng lost 0.6% after missing a bull market trend by 1% on Monday. The Hang Seng China Enterprises Index lost 1.1%, following gains of 6.5% over the last six sessions which helped the index achieve its highest level in three months.
The benchmark index declined 0.3% on Wednesday following conflicting signals on China’s economy. Concerns arising out of these sentiments led to fears about the chances of further policy stimulus for the rest of the year. The CSI 300 also lost 0.3%. Volumes remained weak for the second successive trading session. I
In contrast, the Hang Seng advanced 1%, moving closer to bull market conditions. The Hang Seng China Enterprises Index gained 0.4%.
The Shanghai Composite rose 0.4% on Thursday, gaining for the first time in four trading sessions. Investors sought out beaten down stocks as they searched for bargains after a long string of losses for stocks. The CSI 300 increased 0.5%.
Meanwhile, Hong Kong’s benchmark crept into the black for the year, entering a bull market as regional indexes gained. Property stocks led gains as the Hang Seng advanced 0.5%. This took its gain over the three-year low hit in February to 20%. The Hang Seng China Enterprises Index moved up 0.4%.
Stocks in the News
Alibaba Group Holding Limited is reportedly teaming up with SAIC Motor to explore the connected car space. According to a CNBC report, the duo will soon roll out a sports utility vehicle (SUV) called Roewe RX5 powered by Alibaba's operating system YunOS.
The car was unveiled in April at the Beijing Auto Show and its commercial availability is expected in August this year. The commercial model is priced at Rmb148, 000 or $22,000.
YunOS is quite a popular OS in China and is currently in use in some popular Chinese smartphone brands such as Duowei and Meizu. Alibaba claims that YUnOS has the third largest user base after Android and iOS.
Yingli Green Energy Holding Co. Ltd. ’s wholly owned subsidiary, Yingli Energy (China) Company Limited, also known as Yingli China, added 50 megawatts (“MW”) to its downstream solar portfolio by finishing work on a project in Datong City, Shanxi Province, China.
The project came online at the end of last month. Yingli China had received the contract to build and develop the project in Jul 2015. The project is part of the "Top Runner" program under the country's National Energy Administration (“NEA”).
Located in the coal mining subsidence area of Datong – the first National Advanced PV Technology Demonstration Base, the project utilizes Yingli's TwinMAX 60 Cell bifacial series modules. It is expected to produce more than 80 gigawatt-hour (“GWh”) of electricity annually, which is sufficient to power about 37,000 homes. The amount of power generated will reduce more than 50,000 tons of carbon emission a year.
TwinMAX 60 is a frameless, double-glass module that employs Yingli's cutting-edge PANDA (n-type monocrystalline solar cell) technology, which boasts a module efficiency of almost 18.8%.
ReneSola Limited (SOL) has completed the construction of six utility-scale projects in UK last month. These projects, with a combined capacity of approximately 26 megawatts (MW), have also been connected to the country’s grid. They are located in Carlam Hill Farm (Yorkshire), North Wales, and Monmouthshire.
ReneSola was responsible for the design and construction of the projects, all of which are powered by the Virtus II modules. The company will further provide ongoing operation and maintenance services.
JD.com (JD) said it has tied up with many prominent Japanese kitchenware and home brands in order to cater to the growing demand in China for top class home appliances and related goods from Japan. Brands which will become available on JD.com as a result of these linkages include the likes of Pearl Life, Tiger and Nishikawa Sangyo.
The partnerships were announced at an event held in Tokyo which was hosted by JD.com along with Japan External Trade Organization. This government related organization aims to boost investment and trade between Japan and other countries from across the globe.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
Follow us on Twitter: https://twitter.com/zacksresearch
Join us on Facebook: https://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
ALIBABA GROUP (BABA): Free Stock Analysis Report
YINGLI GREEN EN (YGE): Free Stock Analysis Report
RENESOLA LT-ADR (SOL): Free Stock Analysis Report
JD.COM INC-ADR (JD): Free Stock Analysis Report
Original post