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NEW YORK (TheStreet) — If the first trading day of 2010 is any indication, the new year will mirror the previous year in the solar sector, with Chinese solar companies being favored by investors. Most of the major Chinese solar powers — including Trina Solar(TSL Quote), Yingli Green Energy Holdings(YGE Quote), Suntech Power(STP Quote), JA Solar(JASO Quote) and China Sunergy(CSUN Quote) — led the way in a big solar run on Monday.

The biggest solar gains far outpaced the broad technology sector gains of 1.8% on Monday, and several of the Chinese solar players bested the solar sector index return of 3.5% on the first trading day of the new year.

A recent TheStreet poll revealed that many investors believe the Chinese solar players will continue to extend their lead over the solar industry bellwether stock First Solar(FSLR Quote) in 2010. First Solar may generate healthy profits in 2010, but TheStreet readers don’t believe it can match the gains to be made by the Chinese solar companies. Here again, the first day of trading provided an indication that there was no slowing in the competition between the upstart Chinese and the U.S. solar leader.

Notably on Monday, while most of the Chinese solar firms were up 3% or more in afternoon trading, First Solar was among the only solar companies with negative returns on Monday afternoon, though by day end First Solar shares ended virtually flat. Sunpower(SPWRA Quote), the other major U.S.-based solar company, ended Monday’s trading session up slightly over 1%.

Canadian Solar(CSIQ Quote), which despite its name has headquarters in China and has a largely Chinese management team, led solar gainers on Monday, up more than 7.5%. ReneSola(SOL Quote) was up more than 7%.

Trina Solar was up 5.6%; while China Sunergy was up 5%. Yingli Green Energy, Suntech and JA Solar were up between 3.5% and 4% on Monday.

 

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