LDK Solar Co. led a drop in Chinese solar stocks in New York after a French materials supplier said the companies are reducing orders and Citigroup Inc. signaled Germany may cut industry subsidies by at least 20 percent.
Traders are wagering that a lengthy antitrust review won’t stop Applied Materials Inc. from completing a $9.39 billion deal to help the world’s No. 1 supplier of chipmaking equipment boost its market share.
China’s success in wresting control of the solar industry is erasing an advantage for U.S. suppliers led by First Solar Inc., which use a rival technology supported with $5.5 billion in government loan guarantees.
OCI Co., the world’s second-biggest maker of polysilicon used in solar panels, fell the most in more than three months in Seoul trading after Citigroup Inc. said Germany may cut industry subsidies by more than 20 percent.