ADRs in Focus: Solar stocks decline

U.S.-traded shares of solar companies slipped Tuesday, while the price of oil eased due to a stronger dollar.

Wall Street traded mixed as the price of oil declined from a rise earlier in the day. Last week, the price of oil soared to a record above $139.

American Depositary Shares of China Sunergy Co. declined 30 cents, or 2.7 percent, to $10.70, Trina Solar Ltd. lost $3.70, or 9.2 percent, to $36.73, and Suntech Power Holdings Co. declined $1.34, or 3.4 percent, to $37.84.

Solarfun Power Holdings Co. slipped $1.14, or 5.8 percent, to $18.45, and JA Solar Holdings Co. declined 59 cents, or 3 percent, to $18.81.

Meanwhile, the Bank of New York Asia ADR Index declined 3.36 points, or 2.1 percent, to $156.59. The index has declined 6.1 percent so far this year.

ADRs are securities designed to allow U.S. investors to trade shares of companies based overseas.

In Asia, the Nikkei 225 average closed 1.1 percent lower, following comments from Federal Reserve Chairman Ben Bernanke, who noted the growing risk of inflation.

China's benchmark Shanghai Composite Index recorded its biggest percentage decline in over a year, dropping 7.7 percent. Financial markets in China, Hong Kong and Australia were closed Monday for national holidays.