HK Stock Market Move | Weichai Power (02338) fell nearly 10% in early trading as US data center construction may slow, putting pressure on the outlook for power-related companies.

Weichai Power (02338) fell nearly 10% in early trading. As of press time, it was down 8.70% at HK$21.62, with turnover of HK$443 million. On the news front, the Democratic Party won control of both the US Senate and House of Representatives and secured state-level election victories in data center hubs such as Texas, Georgia, and Ohio. Goldman Sachs said the Democratic victory could have a major impact on the regulatory environment for the AI and data center industries, and is expected to affect about 45% of planned data center capacity expansion in the US, with Texas accounting for 25%. Goldman Sachs said some US utilities and power generation companies that supply power to data centers may come under pressure as a result. Weichai Power's results show that in the first three quarters, sales of its M-series high-end engines, with power generation as the core application scenario, exceeded 11,000 units, already surpassing last year's full-year sales scale and up more than 40% year on year; among them, sales of data center power generation products exceeded 2,700 units, up nearly 200% year on year, with single-quarter sales in the third quarter alone reaching about 1,300 units.