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Chinese Solar Stocks Rally On Rooftop Installation Policy

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It was announced that China will embark on a push for establishing solar panels on rooftops. Though details are limited, the Mainland stocks in the solar space ripped on the news. The Biden administration is banning several Chinese manufacturers of monocrystalline silicon and polysilicon...

The Hang Seng Index and Hang Seng TECH Index bounced around the room, gaining +0.23% and +0.24% respectively as volume declined -14% from yesterday to 81% of the 1-year average. The 209 Chinese companies listed in Hong Kong within the MSCI China All Shares Index gained +0.39% led by energy +1.3%, discretionary +0.97%, real estate +0.86%, healthcare +0.52%, and materials +0.25%, while utilities fell -0.75%. Hong Kong’s most heavily traded by value were Meituan, which rose +2.

41%, while communication fell -1.38%, healthcare -1.31%, and discretionary -0.21%. The Mainland’s most heavily traded by value were recently listed Three Gorges Renewables, which fell -8.39%, Longi Green Energy, which rose +5.48%, BYD, which rose +0.65%, Tongwei Co, which rose +9.89%, COSCO Shipping, which fell -1.15%, Luxhsare Precision, which rose +4.06%, Kweichow Moutai, which rose +1.47%, Tianqi Lithium, which rose +0.62%, Chongqing Changan Auto, which fell -1.

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China must clamp down on its environmentally damaging mining of the rare earth elements.

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