HK Stock Market Move | HARBIN ELECTRIC (01133) rises more than 6%, stock price has surged over 5 times this year, UBS bullish on CHINA POWER market demand.

Harbin Electric (01133) rose more than 6%, with the stock price soaring more than five times this year. As of the time of writing, it rose 6.23% to 14.32 Hong Kong dollars, with a turnover of 2.14 billion Hong Kong dollars. In terms of news, a previous research report from UBS pointed out that the market demand for CHINA POWER is more optimistic. It is expected that the demand for CHINA POWER will increase by 8% from 2028 to 2030, doubling the previous forecast. Although the bank has already identified artificial intelligence data centers, exports, and electrification as structural driving factors, the expected impact of these factors has clearly exceeded previous expectations. The bank's adjustments reflect an enhanced confidence in the construction of artificial intelligence data centers, accelerated growth in power exports, and faster electrification, benefiting capital expenditure for power equipment and grids from next year. The bank's top pick stocks include HARBIN ELECTRIC.