Solar Stocks Surge in Hong Kong Trading Session

Stock News

03/20

Several solar energy stocks experienced significant gains during the Hong Kong trading session. At the time of writing, shares of Hainan Drinda New Energy Technology Co.,Ltd. (02865) rose over 10% to HK$38.74. XINYI SOLAR (00968) advanced more than 6% to HK$3.52. The upward movement follows renewed market speculation regarding Tesla's procurement plans. On March 20, market rumors suggested that a Tesla team plans to purchase a substantial volume of Chinese photovoltaic equipment, involving several listed companies. That same morning, a solar energy company confirmed the news, revealing the contract scale is at the gigawatt level. Elon Musk stated in January that solar power could meet all of the United States' electricity demands, including the growing energy needs of data centers.

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At the time of writing, shares of Hainan Drinda New Energy Technology Co.,Ltd. (02865) rose over 10% to HK$38.74. XINYI SOLAR (00968) advanced more than 6% to HK$3.52. The upward movement follows renewed market speculation regarding Tesla's procurement plans. On March 20, market rumors suggested that a Tesla team plans to purchase a substantial volume of Chinese photovoltaic equipment, involving several listed companies. That same morning, a solar energy company confirmed the news, revealing the contract scale is at the gigawatt level. 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