Tuesday, January 5, 2010

Solar Index Climbs 6% Since Thursday

Dow, NASDAQ up, too

The 20 Solar Stocks Index (20SSI) has gained nearly 27 points since last year's close Thursday of 448.15 to finish at 474.82, a 5.95% climb. Both the Dow and NASDAQ have begun 2010 well, respectively gaining 144 points to 10572.02 (up 1.38%) and 40 points to 2308.71 (+1.74%) so far this very new year.

All but three stocks of the 20SSI finished up after today's trading. The biggest winners were Yingli Solar (up 12.6%), JA Solar Holdings (+7.59%), and Canadian Solar (+5.55%).

One year ago today when the 20SSI began tracking, the index closed at 415.41, so the index has comeback an appreciable 14.3% in a bad financial year. Solar's rebound really looks good compared with the market descent--which included all major indexes--culminating on March 6 when the 20SSI hit 266.01. From that time solar shows a gaudy 78% surge.

Chinese solar stocks have been gaining well the past month on signs of an optimist future for the solar industry. China recently made a renewable energy mandate to increase the use of non-fossil fuels by 15% by 2020.


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