For Immediate Release

Chicago, IL – January 29, 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 JinkoSolar Holding Co., Ltd. (JKS), CNOOC Ltd. (CEO), PetroChina Co. (PTR), China Lodging Group, Ltd. ( HTHT) and Renren Inc. (RENN).

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 suffered heavy losses this week despite the largest monetary injection made by authorities in the last three years. The Shanghai Composite Index increased 0.8% on Monday, lifted by gains made by coal and steel stocks. The benchmark index suffered a steep decline on Tuesday following fears that capital flight would rise.

The Shanghai Composite Index moved 0.5% lower on Wednesday following dismal data on industrial profits. The benchmark index moved 2.9% lower on Thursday on concerns that falling commodity prices and an economic slowdown will hurt company earnings.

JinkoSolar Holding Co., Ltd. (JKS) said that it will provide solar modules worth one gigawatt to sPower. CNOOC Ltd. (CEO) has said that production has started at the Kenli 10-4 oilfield. Situated in the South of Bohai, this oilfield has an average water depth of around 15 meters.

Last Week’s Developments

Last Friday, the Shanghai Composite Index increased by 1.3%, ending a three-week run of losses. Premier Li Keqiang emphasized the need for cutting overcapacity in the coal and steel sectors. Additionally, it was reported that the government will provide 100 billion yuan ($15 billion) per year toward implementing supply side reforms in these sectors.

Indications that the ECB would provide additional monetary stimulus was another factor which boosted stocks. Additionally, crude prices rose above the $30 a barrel mark. Meanwhile, speculation increased that the government would continue to boost equity markets following comments from the country’s vice president at the World Economic Forum in Davos.

The CSI 300 gained 1%, powered by tech and energy stocks. The Hang Seng Increased 2.9%, after the Hong Kong dollar reached its highest level in nearly five years. The Hang Seng China Enterprises Index surged by 3.4%, recording the highest increase since October last year.

Markets and the Economy This Week

The Shanghai Composite Index increased 0.8% on Monday, lifted by gains made by coal and steel stocks. These gains came after the government released details of reforms in these industries. Supply-side measures include additional cuts in production of crude steel to the tune of nearly 150 million tons. Additionally, substantial reductions would be made to coal output.

The CSI 300 increased 0.5%, with pharma, energy and material stocks leading gains. The Hang Seng China Enterprises Index increased 0.8%. The Hang Seng Rose 1.4%. The offshore yuan gained while benchmark money-market rates declined. Trading volumes on the Shanghai exchange were 26% lower than the average level recorded over 30 days. Margin traders cut back on the amount of shares purchased with borrowed funds for the 16th day in succession.

The benchmark index suffered a steep decline on Tuesday, falling by 6.4%. This was the lowest level recorded in more than a year. Losses were triggered by fears that capital flight would rise as the economic slump continues and the country’s foreign reserves decline as China continues to boost the yuan.

Stocks continued to move lower even though the country’s central bank introduced 440 billion yuan ($67 billion) into the financial markets utilizing reverse repo agreements. This was the highest level of funds injected in three years. It was another attempt by the government to control the cost of borrowing funds.

The CSI 300 declined by 6%. Tech, energy and industrial stocks were the largest losers for the day. PetroChina Co. ( PTR) lost 4.7%. The Hang Seng declined 2.5%, weighed down by oil and financial stocks. The Hang Seng China Enterprises Index moved 3.4% lower.

The Shanghai Composite Index moved 0.5% lower on Wednesday. Stocks of airlines and power producers emerged as the highest losers for the day. Industrial profits declined by 4.7%, suffering a seventh consecutive monthly decline. Additionally, fears that a weak yuan would have a negative impact on companies with dollar debt triggered losses.

However, the Shanghai Composite managed to reduce a decline of nearly 4.1% suffered earlier in the day after PetroChina, considered to be frequently boosted by state backed funds moved up 2.8%. This was its largest gains in three weeks. The CSI 300 dropped 0.4%. Utility, telecom and industrial stocks were the largest losers for the day. The Hang Seng increased 1% while the Hang Seng China Enterprises index gained 0.8%.

The benchmark index moved 2.9% lower on Thursday on concerns that falling commodity prices and an economic slowdown will hurt company earnings. These concerns have negated the impact of the largest monetary injection into the financial markets made in three years. Thursday marked the longest series of losses in three weeks. Fears that an economic slump and weakness in the yuan will cause capital flight have also haunted investors.

The CSI 300 declined 2.6%. Gauges of industrial and material stocks declined by a minimum of 4.7%, emerging as the largest losers for the day. Traders continued to offload shares purchased with borrowed money. The Hang Seng increased 0.8% while the Hang Seng China Enterprises Index added 0.8%.

Stocks in the News

JinkoSolar Holding Co., Ltd. said that it will provide solar modules worth one gigawatt to sPower. Prominent independent power producer (IPP) sPower has awarded JinkoSolar with its biggest U.S. contract ever. The Chinese PV module producer will provide sPower with more than three million high efficiency PV modules. These will be utilized by the U.S. IPP for a number of projects to be set up by the end of this year.

Developer of several wind and solar projects across the U.K. and U.S., sPower has set up utility size solar facilities in California. The company’s CEO said the agreement with JinkoSolar had been concluded at an opportune time since Federal tax credits for utility size solar projects have recently been extended.

CNOOC Ltd. has said that production has started at the Kenli 10-4 oilfield. Situated in the South of Bohai, this oilfield has an average water depth of around 15 meters. A wellhead platform has been developed at the oilfield while the existing facilities will be fully utilized.

CNOOC is the sole owner and operator of this independent oilfield. As of data 5,540 barrels of crude are produced per day from the 6 wells at the Kenli 10-4 oilfield. It is expected to reach its peak output of nearly 9,600 barrels per day by end 2016.

China Lodging Group, Ltd. (HTHT) said that it has concluded the agreement which enables a strategic alliance between itself and AccorHotels. Per the terms of the agreement, AccorHotels’ economy hotels will merge with China Lodging’s network.

AccorHotels and China Lodging Group will together develop and operate AccorHotels’ Novotel and Grand Mercure brands. Additionally, China Lodging will acquire a non controlling stake of 29.3% in the Luxury and Upscale operating platform of AccorHotels across Greater China. Meanwhile, AccorHotels will hold a 10.8% stake in China Lodging Group along with the ADS’ it already holds.

Renren Inc. (RENN) has issued China’s first asset backed security product. The Shanghai Renren Finance Leasing Asset-Backed Special Plan will be backed by finance leasing of used automobiles and traded on the Shanghai Stock Exchange.

The company’s wholly owned subsidiary Shanghai Renren Finance Lease Co. is the originator of the Plan. It is being administered by Nanjing Bank subsidiary Xinyuan Asset Management. The Plan consists of three tranches and is nearly RMB299.8 million in size.

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JINKOSOLAR HLDG (JKS): Free Stock Analysis Report
 
CNOOC LTD ADR (CEO): Free Stock Analysis Report
 
PETROCHINA ADR (PTR): Free Stock Analysis Report
 
CHINA LODGING (HTHT): Free Stock Analysis Report
 
RENREN INC-ADR (RENN): Free Stock Analysis Report
 
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