HK Stock Market Move | Photovoltaic stocks rose in early trading, the industry's anti-cyclical trend may see new developments, as Chinese solar companies recently signed a series of large overseas contracts.

Photovoltaic stocks rose in morning trading. XINYI SOLAR (00968) rose 4.84% to 3.68 Hong Kong dollars; FLAT GLASS (06865) rose 4.84% to 11.69 Hong Kong dollars; GCL TECH (03800) rose 4% to 1.3 Hong Kong dollars; XINTE ENERGY (01799) rose 3.98% to 8.36 Hong Kong dollars. In terms of news, it is reported that on October 14th, several industry insiders told reporters that important policies are expected to be released, and there will be new developments in the industry to combat vicious competition. It is also understood that relevant authorities may issue a notice on strengthening the regulation of photovoltaic capacity. In addition, industry media reported that recently, Chinese photovoltaic companies have performed very well in overseas markets, winning multiple significant orders in the GW level, covering areas such as complete contracts for photovoltaic power plants, construction of component production bases, and component procurement in the Middle East and South Asia markets such as Saudi Arabia, Iran, and Pakistan. According to incomplete statistics, major enterprises have signed nearly 25GW of overseas orders since September. Guotai Junan Securities recently stated that the positive catalysts related to policies, demand, and performance in the photovoltaic sector continue to drive industry chain price increases, leading to gradual improvement in fundamentals, making the current position worth paying attention to. The brokerage believes that the government highly values the issue of vicious competition in industries such as photovoltaics, and combatting this will have a very positive impact on the photovoltaic sector. Through various efforts in the industry, policies, and demand, the photovoltaic sector as a whole is expected to see a turnaround in its plight. The industry is currently at the bottom range and is worth paying attention to.