HK Stock Market Move | Photovoltaic stocks fell again, a pessimistic outlook is emerging. The market is concerned that new energy subsidies will be canceled after Trump's reelection.

Photovoltaic stocks fell again, as of the time of writing, XINTE ENERGY (01799) fell by 3.74% to 8.49 Hong Kong dollars; XINYI SOLAR (00968) fell by 2.65% to 3.31 Hong Kong dollars; XINYI ENERGY (03868) fell by 2.47% to 0.79 Hong Kong dollars; Triumph New Energy (01108) fell by 2.33% to 4.19 Hong Kong dollars. On the news front, in the week after Trump won the U.S. presidential election, U.S. photovoltaic stocks have suffered a round of sell-offs. Due to Trump's continuous support for the traditional energy industry and his skepticism towards the new energy industry, many investors are worried that after Trump takes office, he may revoke the subsidies and support measures for the photovoltaic and other new energy industries implemented by the Biden administration. According to market reports, it is widely believed in the market that the U.S. photovoltaic industry will be in a difficult situation due to Trump's election. According to the Solar Energy Industries Association (SEIA), the different expectations will be formed depending on whether Trump is elected, how long he is elected, and the policy changes. The pessimistic scenario expectation (long-term election, cancellation of IRA) could lead to a 200GW reduction in the future photovoltaic installation scale in the United States compared to the optimistic expectations (almost the current cumulative photovoltaic installation capacity in the United States). Although there is still uncertainty about whether subsidies will be reduced, the impact on the growth rate of the photovoltaic industry in the U.S. and even globally is almost certain. Some market analysts believe that many leading Chinese photovoltaic companies have already established factories in the U.S., and for these capacities that are in operation in the U.S., the election of Harris, who supports IRA, should be more reassuring. However, after Trump takes office, there may be more concerns about whether these companies will receive subsidies and the future prospects of their factories in the U.S.