Shares of Daqo New Energy (DQ), a leading polysilicon manufacturer, are soaring 12.98% in Wednesday's trading session, outpacing the broader market and leading gains among Asian equities traded in the US. The surge comes as part of a larger rally in solar stocks, signaling renewed investor confidence in the renewable energy sector.

The solar industry is experiencing a notable uptick, with several key players posting significant gains. JinkoSolar and Canadian Solar are both up 5%, while First Solar has risen 3%, and Enphase Energy has added 2%. This sector-wide movement suggests a positive sentiment towards solar energy companies, possibly driven by favorable industry developments or macroeconomic factors supporting clean energy initiatives.

Daqo New Energy's impressive performance is particularly noteworthy within the context of the S&P Asia 50 ADR Index, which was up 1.1% overall. As a major producer of high-purity polysilicon for the global solar PV industry, Daqo's strong stock movement may indicate positive expectations for demand in the solar supply chain. Investors appear to be betting on continued growth in the solar energy market, with Daqo New Energy positioned as a key beneficiary of this trend.