Chinese stocks were up in New York on Thursday, with consumer and solar firm shares leading the rise, Bloomberg reported. The action followed US financial rating agency Standard & Poor’s (S&P) positive assessment of China’s growth outlook. The Bloomberg China-US Equity Index of the most-popular Chinese equities in the US rose 0.4% to 92.29 on Thursday. LDK Solar (LDK.NYSE, LD41.FRA) and Yingli Green Energy Holding (YGE.NYSE, YG11.FRA) surged. New Oriental Education and Technology Group jumped two days after Carson Block, the short seller that questioned their firm’s accounting, said it was too difficult to short Chinese US-listed shares. S&P said China has “exceptional” growth potential and maintained the nation’s credit rating. S&P’s confidence signals the nation is recovery from a seven-quarter decline in growth rate, as industries such as manufacturing and retail sales reported positive figures from October.
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