Singapore Solar Leading Global Recovery

In a time of global market contractions Singapore's manufacturing industry is expanding. In a surprise announcement Singapore's Purchasing Managers' Index went positive for the second time, having done so in both May and June.

Although the electronics sector grew the most with an increase of 2.1 points over the previous month. One of the other leaders is solar. With a government announcement of additional investment of $350 million (S) to increase research and development and major Solar producer Phoenix Solar will begin construction of a pv power plant at Changi airport generating up to 250kw. Solar is a key factor in the global recovery efforts in Asia.

International companies trading in New York also gained Thursday, with solar companies leading most of the other sectors higher.

The Bank of New York index of ADRs increased 1.4% to 107.01. Chinese Solar companies were among the top gainers, with JA Solar Holdings up 8% and China Sunergy up 6.2%.