The Obama administration is engaged in preliminary talks with the European Union and China to settle a dispute over trade in solar-energy equipment and avoid a conflict among the world’s largest economies, according to people familiar with the discussions.
Chinese equities rose to the highest level in three months in New York as Pactera Technology International Ltd. jumped after receiving a proposal to go private and Qihoo 360 Technology Co. climbed to a record high on a stronger-than-estimated sales forecast.
Chinese equities retreated in New York from the highest level in three months, led by Aluminum Corp. of China Ltd., after investment in the nation’s fixed assets and industrial output trailed economists’ estimates.
Chinese stocks traded in New York rose, led by Sina Corp., which jumped the most in eight months after agreeing to sell a stake in its Weibo service to Alibaba Group Holding Ltd. as part of an e-commerce alliance.
Baidu Inc. sank in New York, paring the biggest weekly advance since January in the benchmark gauge of Chinese U.S.-listed stocks, after the Internet company’s earnings fell short of analysts’ estimates.
Chinese solar manufacturers rallied in New York, led by Suntech Power Holdings Co., on a report that billionaire Warren Buffett may be interested in buying the company forced into bankruptcy after defaulting on debt.
Chinese equities rose in New York, driven by Trina Solar Ltd. and Yingli Green Energy Holding Co. on speculation investors are favoring solar makers with sufficient cash after Suntech Power Holdings Co. defaulted.
Chinese equities slid the most in 10 months in New York after the Asian nation posted first- quarter growth below economists’ forecasts, driving the Shanghai Composite Index down 10 percent from a February high.