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SIOUX FALLS, S.D. - Shares of Chinese solar cell makers soared Wednesday as the country announced its biggest interest rate cut in 11 years. The move is seen as spurring private borrowing and supporting a multibillion-dollar stimulus package to boost slowing economic growth.
Solarfun Power Holdings Co. Ltd. jumped 90 cents, or 21.8 percent, to $5.03 in afternoon trading, while ReneSola Ltd. gained 42 cents, or 14.2 percent, to $3.37.
Shares of China Sunergy Co. Ltd. rose 37 cents, or 11.1 percent, to $3.71, and Suntech Power Holdings Co. increased by 79 cents, or 10.4 percent, to $8.37.
Chinese solar power company Trina Solar Inc. jumped $1.27, or 16.7 percent, to $8.88.
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