Reuters: Hot Stocks: UPDATE 1-JA Solar's buyback plan props up shares

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UPDATE 1-JA Solar's buyback plan props up shares Jun 14th 2012, 11:54 June 14 | Thu Jun 14, 2012 7:54am EDT June 14 (Reuters) - JA Solar Holdings Co Ltd, which has lost nearly a third of its market value this year, said it could buy back up to $100 million of its shares before the end of September, sending the company's shares up 29 percent in premarket trade. China-based solar companies, including LDK Solar Co, Yingli Green Energy Holding Co and ReneSola Ltd, have been buying back their shares amid a brutal selloff in the equities market. JA Solar shares, valued at about $409 million, rose to $1.20 on Thursday. The stock closed at $0.93 Wednesday on the Nasdaq.

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