HK Stock Market Move | FLAT GLASS (06865) rose more than 7%, leading the photovoltaic stocks higher. The market has anticipated the tax plan, and two major factors are expected to improve sentiment and expectations.

In the early trading session, PV stocks rebounded. As of the time of writing, FLAT GLASS (06865) rose by 7.18% to 9.41 Hong Kong dollars; XINYI SOLAR (00968) rose by 5.38% to 2.94 Hong Kong dollars; GCL TECH (03800) rose by 3.96% to 1.05 Hong Kong dollars; XINTE ENERGY (01799) rose by 3.14% to 6.57 Hong Kong dollars. In terms of news, recently, Biden's 301 tariff rules on China were finalized, significantly increasing import tariffs on electric vehicles, lithium batteries, and solar cells. Some industry insiders pointed out that compared to the announcement in May, the final decision made by the U.S. did not adjust the tariff policy for the PV industry, which was an old news progression and the market had already anticipated this. Sinolink released a research report stating that with the change in direction of the U.S. presidential election, the attitude towards the energy industry may gradually become an area with relatively smaller differences and contradictions between the two parties' governing principles. Combined with the expected interest rate cut by the Federal Reserve nearing implementation, the development of new energy projects will directly benefit from the interest rate cut. The resonance of these two factors is expected to drive a significant recovery in sentiment and expectations for the electric vehicle sector, especially in the offshore related industrial chain, and it is recommended to increase the allocation of relevant targets.