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ADR REPORT: Shares Mostly Lower As Fed Outlook Weighs

By Matt Jarzemsky Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- International companies trading in New York closed mostly lower Wednesday in line with the broader market, as the Federal Reserve issued a cautious economic outlook just days before it ends its asset-buying program. The Bank of New York index of ADRs fell 0.9% to 138.32, with the European index posting the largest decline amid concerns that the European consumer environment is showing signs of extreme stress. The European index lost 1.2% to 128.12. Dutch electronics company Royal Philips Electronics NV (PHG, PHIA.AE) was one of the day's largest decliners, falling 10% to $23.36 after warning that its profit would be hit by weak consumer demand in Western Europe. Meanwhile, HSBC lowered its stock-investment ratings on Lloyds Banking Group PLC (LYG, LLOY.LN), Barclays PLC (BCS, BARC.LN) and Royal Bank of Scotland Group PLC (RBS, RBS.LN) to neutral from overweight. HSBC said proposed regulatory changes from the Independent Commission on Banking could mean a hit of up to 10 billion pounds ($16.2 billion) for the three U.K. Banks. Lloyds fell 1.3% to $2.98 while Barclays lost 3.8% to $16.28. RBS closed 2.4% lower at $12.40. The Asian index fell 0.5% to 132.92 and the emerging markets index slid 0.5% to 324.48. KT Corp. (KT, 030200.SE) fell 2% to $18.16 after South Korea's telecommunications regulator said it will bar it and SK Telecom Co. (SKM, 017670.SE), the country's top two mobile carriers, from participating in a spectrum auction later this month due to fair competition concerns. SK Telecom slid 0.9% to $17.70. But China's Hanwha SolarOne Co. (HSOL) rose 12% to $5.89 as Collins Stewart raised its stock-investment rating on the company to buy from neutral, saying declining wafer prices will help the company improve its cost structure. Collins Stewart also initiated coverage of China Sunergy Co. (CSUN) with a buy rating, saying higher capacity of solar-cell component polysilicon has flattened the industry's cost curve and helped the company compete with other vendors. China Sunergy surged 20% to $2.18. Meanwhile, E-House (China) Holdings Ltd. (EJ) rose 9.8% to $8.93 after the company said Chairman Xin Zhou plans to buy $10 million in the company's American depositary shares over the next year. "Despite the challenging real estate market conditions we are experiencing now, I am confident in the strong fundamentals and long-term prospects of the real estate industry in China," Zhou said. The Latin American index was the lone gainer Wednesday, ending 0.3% higher at 396.36. Brazilian mining giant Vale SA (VALE, VALE5.BR) has given Argentine authorities an updated investment plan for its multi-billion dollar Rio Colorado potash mine project in an effort to address complaints that led the government to suspend work last week. Vale's shares edged up 8 cents to $30.74. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;

Stock News for China Sunergy Co. Ltd. Ads (CSUN)
01/29/201607:45:59Report of Foreign Issuer (6-k)
01/29/201604:30:00China Sunergy Announces Third Quarter 2015 Financial Results
01/18/201604:00:00China Sunergy Supplies 2.5 MW of Solar Modules to London Southend...
01/11/201602:50:00China Sunergy Announces Joint Venture with UAE-based PV Specialist...
01/07/201606:04:16Report of Foreign Issuer (6-k)
01/06/201605:30:00China Sunergy Announces Directors Resignation
11/23/201508:19:52Report of Foreign Issuer (6-k)
11/23/201504:30:00China Sunergy Announces Second Quarter 2015 Financial Results
10/30/201509:22:24Report of Foreign Issuer (6-k)
10/30/201507:00:00China Sunergy Announces Shareholder Resolutions Adopted at 2015...
10/24/201517:46:33China Sunergy: No Recovery In Sight
10/15/201505:00:00China Sunergy Opens Solar Cell Factory in Incheon, Korea
09/28/201509:07:01Report of Foreign Issuer (6-k)
09/28/201505:30:00China Sunergy Announces First Quarter 2015 Financial Results
09/14/201506:00:00China Sunergy to Hold Annual General Meeting on October 30, 2015...
09/11/201507:40:35Report of Foreign Issuer (6-k)
09/10/201506:00:00China Sunergy Announces Receipt of Notice of Failure to Meet...
08/21/201506:00:00China Sunergy Won a Bid to Supply 260 MW of PV Modules to China...
08/06/201506:00:00China Sunergy Won an EPC Agreement for the Construction of a...
07/23/201506:22:00China Sunergy Regains Compliance with Nasdaq Listing Requirements

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