Tuesday's Asia ADR Recap

Chinese alternative energy company Suntech Power Holdings(STP Quote) announced it has inked a long-term silicon wafer supply agreement with Wacker Schott Solar GmbH. Under the terms of the deal, Wacker Schott will supply Suntech with specified annual volumes of around 220 megawatts over the duration of the deal. Shares of Suntech moved up 15 cents to $41.42.

Elsewhere in the Chinese alternative energy sector, China Sunergy(CSUN Quote) announced it will sell $45 million in convertible senior notes to a private buyer. The deal will also grant the initial purchaser an option to buy up to an additional $5 million in aggregate principal amount of the notes to cover overallotments. The company plans to use the capital raised from the sale for expansion of production capacity, enhancement of research and development and general corporate purposes. Shares of China Sunergy dipped 3.4% to $10.66.

China Digital TV(STV Quote), the leading provider of conditional access systems to mainland China, announced that its wholly owned subsidiary, Beijing Novel-Super Media Investment, has invested RMB30 million to start a joint venture with Guangzhou-based Pearl River Media. The new venture will sell advertising products for digital TV platforms and provide value-added services such as video on demand. China Digital will control 60% of the joint company and Pearl River media will hold 40%. Shares of China Digital TV advanced 1.3% to $15.98.

Some big moves to the upside in Chinese ADRs and China-based stocks on Tuesday were seen in LDK Solar(LDK Quote), which soared 8.4% to $42.62; Focus Media(FMCN Quote), which ripped higher by 7.8% to $28.43; Simcere Pharmaceutical Group(SCR Quote), which jumped 6.1% to $14.65; and Spreadtrum Communications(SPRD Quote), which traded up 5.2% to $5.