Monday's Asia ADR Recap: SINA

"Actually, the disaster might mean more business for construction and other companies that would help rebuild the region," said Qing Hong with Bo Hai Investment. The Shanghai Composite Index finished up 13 points, or 0.6%, at 3,626.98. Hong Kong markets were closed for a religious holiday and will reopen on Tuesday.

Chinese alternative energy company JA Solar (JASO Quote) announced a better-than-expected quarterly profit due to strong demand for solar cells. First-quarter net income was $22 million, vs. $8.6 million a year ago and revenue came in at $160 million, vs. Wall Street estimates of $149.4 million. JA Solar said fiscal 2008 revenue will come in between the range $1.03 billion and $1.14 billion, vs. estimates of $984.40 million. Despite the strong results shares of JA Solar fell after the company announced plans to offer $300 million in convertible senior notes, due 2013. American depositary shares of JASO, which trade on the Nasdaq, slipped 6.1% to $22.10 on above-average trading volume.

Elsewhere in the solar complex, Canadian Solar (CSIQ Quote) rose 4.9% to $34.10; Trina Solar (TSL Quote) traded up 2% to $41.60; LDK Solar (LDK Quote) added 1.1% to $37.46; and China Sunergy (CSUN Quote) closed up 1% at $9.94

SINA Corp (SINA Quote), a Chinese online media company, jumped 6.3% higher after Goldman Sachs analyst Leah Hao reiterated her buy rating on the stock ahead of the company's earnings report, set for Wednesday. Hao said she expects SINA to beat first-quarter estimates and to issue strong guidance for the second quarter, due to strong business trends and post-Olympics growth. Shares of SINA added $3.05 to $51.05.