ADRs in Focus: Chinese solar stocks decline

U.S.-traded shares of Chinese solar companies declined Tuesday as Wall Street advanced slightly amid sinking oil prices.

Oil prices fell as much as $6 a barrel, bringing crude down $10 this week and hurling prices back to levels not seen since June 26.

The Bank of New York Mellon China ADR Index slipped 6.38 points, or 1.5 percent, to 411.55. American Depositary Receipts, or ADRs, are securities designed to allow U.S. investors to trade shares of companies based overseas.

In afternoon trading, JA Solar Holdings Co. declined 64 cents, or 4.2 percent, to $14.74.

Elsewhere in the sector, China Sunergy Co. declined 24 cents, or 3.2 percent, to $7.18, and Trina Solar Ltd. declined $1.82, or 6 percent, to $28.74.

Suntech Power Holdings Co. declined $1.44, or 4.3 percent, to $32.45.

In Asia, Hong Kong, Taiwan, India and South Korea stocks declined, and Japanese shares dropped to their lowest level in nearly three months.

Mainland China's markets climbed, with shares of several oil companies declining, and the benchmark Shanghai Composite Index rose 0.8 percent to 2,814.95 points.