Markets suffered during a holiday shortened week as financial stocks took losses and investors considered the state of forex reserves. Markets were closed on Monday for a holiday. The benchmark index touched a three-month high on Tuesday, powered by tech and consumer discretionary stocks. The Shanghai Composite Index declined on Wednesday as banks and insurance companies made significant losses. The benchmark index lost the most in two weeks as investors considered the state of forex reserves to measures capital flows.JinkoSolar Holding Co., Ltd. JKS announced that it will supply 57.65 megawatt (“MW”) photovoltaic (“PV”) solar modules to METKA-EGN USA LLC ("METKA-EGN"). Trina Solar Limited TSL said that it has inked a deal to provide 40 MW of solar modules to Turkey’s leading Engineering, Procurement and Construction (EPC) contractor Tegnatia.Last Week’s Developments Last Friday, the Shanghai Composite Index increased 0.2%, recovering from losses made earlier in the day. A surprising increase in the official factory index boosted sentiment regarding the economy. Additionally, speculation increased that funds with stake linkages had propped up the markets after Standard and Poor’s reduced the country’s credit rating outlook. This helped stocks recover from a loss of nearly 1.6% made earlier in the day.The day witnessed a selloff of tech, consumer and other new economy stocks as investors purchased material and energy stocks. This was caused by a report which showed that the official manufacturing PMI increased to 50.2 in March. Standard and Poor’s cut the country’s outlook from stable to negative.The benchmark index posted its largest monthly gain in a year during the month of March. Meanwhile, the Hang Seng China Enterprises Index declined by the most in a week, losing 1.8%, The Hang Seng moved 1.3% lower. The CSI 300 gained 0.1%. Sub-indexes of material and energy stocks increased by a minimum of 1%. Markets and the Economy This WeekMarkets were closed for a holiday on Monday. The benchmark index touched a three-month high on Tuesday, powered by tech and consumer discretionary stocks. Investors were buoyed by indications that the economy was showing signs of stabilizing. The Shanghai Composite gained 1.5%, moving upward for the fourth consecutive day. An index of tech shares posted the highest gains among all industry groups.The CSI 300 Index advanced 1.3% as all 10 industry groups closed in the green. PetroChina Co. Ltd. PTR slumped, losing 4.1% following an unexpected increase in U.S. crude supplies which touched their highest level in 80 years. The Hang Seng China Index lost 1.9%.The Shanghai Composite Index lost 0.1% on Wednesday as banks and insurance companies made significant losses. However, consumer stocks increased while the H-share index lost for a third consecutive day. The benchmark index snapped a series of four consecutive days. The country’s largest liquor manufacturer mopped up considerable gains.The CSI 300 lost 0.2%. A sub-index of financial stocks moved 0.7% lower, declining the most among the 10 industry groups. The Hang Seng gained 0.2% while the Hang Seng China Enterprises Index declined 0.1%. The benchmark index declined by 1.4% on Thursday, losing the most in two weeks as investors considered the state of forex reserves to measures capital flows. Data released by the People’s Bank of China showed that the country’s forex reserves increased unexpectedly. However, the country’s largest liquor manufacturer suffered the heaviest losses in three weeksZTE Corp also moved lower on the Hong Kong exchange after the U.S. government said it had transgressed trade restrictions on Iran. Sub-indexes of tech and consumer staples stocks within the CSI 300 declined by a minimum of 1.9%. The Hang Seng China Enterprises lost 0.3%, moving lower for the fourth consecutive day.Stocks in the NewsJinkoSolar Holding Co., Ltd. announced that it will supply 57.65 megawatt (“MW”) photovoltaic (“PV”) solar modules to METKA-EGN USA LLC ("METKA-EGN"). JinkoSolar will supply PV solar modules for the project located in the municipality of Isabela, Puerto Rico. According to the company, this is the largest solar PV project in Puerto Rico.METKA-EGN, an engineering, procurement and construction (EPC) firm, is constructing the solar park for Oriana LLC, a subsidiary of Sonnedix USA Limited, and a member of the Sonnedix group of companies. JinkoSolar and METKA-EGN have collaborated in several projects worldwide.Trina Solar Limited said that it has inked a deal to provide 40 MW of solar modules to Turkey’s leading Engineering, Procurement and Construction (EPC) contractor Tegnatia. Per the terms of this agreement, Trina Solar will fulfill delivery of 60 TSM-PD05 and 72 TSM-PD14polycrystalline cells by 2Q14.These modules will be utilized for a number of solar projects to be executed in Erzurum, Adana, Mersin and Konya. Tegnatia was established in 2013 and is a JV between Greece’s construction company Egnatia Group and Turkish renewable energy investment company T-Dinamik.ReneSola Ltd SOL said that per its share repurchase program it has conducted open market purchases of around 606,000 American depositary shares ("ADSs"). Since this share repurchase program was started in Sep 2015, Renesola has repurchased a total of 1.4 million ADSs.According to the chairman and CEO, Xianshou Li, the increasing level of share repurchases is an indication of the company’s commitment to its shareholders. Li says that Renesola is focused on stepping up its cash flow and will utilize these funds to pay off debt and expand its downstream project business.Baidu, Inc. BIDU unit Baidu Research said that it has entered into a technology collaboration will Peel. Mountain View, CA based Peel provides a universal remote app for smartphones and tablets called Peel Smart Remote. The app is used across 200 countries by 150 million users.Baidu will integrate its Deep Speech technology with Peel’s artificial intelligence based home control app to produce voice enabled smart home products. Deep speech is a speech recognition software created by Baidu Research’s AI Lab located in Silicon Valley.Performance of Most Actively Traded US-listed Chinese StocksThe table given below shows the price movements of 10 Chinese companies with the highest three-month average trading volume on U.S. exchanges. Price movements over the last five days and during the last six months have been included.TickerLast 5 Day’s Performance6-Month PerformanceBABA+3.5%+18.5%BIDU+0.2%+28%CTRP-1.6%+146.6%DANG+6.6%+16%JD+1.6%-2.8%JMEI+0.9%-41.4%QIHU+0.7%+39.6%SFUN+2.2%-20.9%TSL-2.3%-4.6%VIPS+4.4%-31% Next Week’s Outlook:Stocks started the week on a high note before moving lower due to a number of concerns. While markets declined due to losses made by banks and insurers on Wednesday, investors pondered over the state of the economy on Thursday. This was despite an encouraging reading of the official state PMI released last Friday. Clear indications about the economy will probably be received from the slew of economic reports lined up for release starting today.This includes data on forex reserves, new yuan loans, FDI, inflation, money supply and trade balance. Additionally, speculation about the nature of key reports to be released on Friday, including GDP data, will also have a major impact on proceedings. If most of these reports are encouraging in nature, stocks could return to their winning ways in the days ahead. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BAIDU INC (BIDU): Free Stock Analysis Report PETROCHINA ADR (PTR): Free Stock Analysis Report TRINA SOLAR LTD (TSL): Free Stock Analysis Report RENESOLA LT-ADR (SOL): Free Stock Analysis Report JINKOSOLAR HLDG (JKS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research