HK Stock Market Move | Photovoltaic stocks rose in the afternoon, with new energy installation capacity increasing significantly in the first eight months. Institutions say that the development of new energy projects will directly benefit from interest rate cuts.

Photovoltaic stocks rose in the afternoon trading session. By the time of writing, IRICO NEWENERGY (00438) was up 10.2% at HK$2.7; XINTE ENERGY (01799) was up 7.94% at HK$6.93; FLAT GLASS (06865) was up 6.91% at HK$9.75; XINYI SOLAR (00968) was up 6.53% at HK$3.1; GCL TECH (03800) was up 4.85% at HK$1.08. In terms of news, the National Energy Administration released the national electricity industry statistics for the period of January to August. The data showed that as of the end of August, the cumulative installed electricity generation capacity nationwide was approximately 3.13 billion kilowatts, a year-on-year increase of 14.0%. Among them, CECEP Solar Energy had an installed generation capacity of approximately 750 million kilowatts, a year-on-year increase of 48.8%; wind power installed capacity was around 470 million kilowatts, a year-on-year increase of 19.9%. Sinolink released a research report stating that with the changing direction in the US presidential election and the attitude towards the energy industry potentially becoming an area of less disagreement and contradiction in the governing agendas of the two parties, combined with the impending interest rate cut by the Federal Reserve, the development of new energy projects is expected to benefit directly from the rate cut. These two factors are expected to drive a significant recovery in sentiment and expectations for the electric vehicle sector, especially in the offshore industry chain. It is recommended to increase the allocation of relevant targets related to this sector.