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Xinyi Solar Downgraded to Neutral From Overweight at JPMorgan
TrendForce: In September, photovoltaic companies expanded production against the trend. HJT and perovskite became the focus of layout.
In September 2024, the upstream prices of the photovoltaic industry chain stabilized, with a slight rebound in silicon material prices, but due to weak end demand, there was a slight downward adjustment in prices for solar cells and components.
Trending Industry Today: XINYI SOLAR Leads Losses In Solar Power Stocks
Trending Industry Today: XINYI SOLAR Leads Losses In Electrical Equipment Stocks
[Industry Trends] OPEC cuts global oil demand expectations for the next two years for the third time; Shenzhen increases support for the integrated circuit industry.
OPEC once again lowered the global oil demand expectations for the next two years. The Organization of the Petroleum Exporting Countries (OPEC) released its monthly Oil Market Report on the 14th, revising down the expectations for global oil demand in 2024 and 2025. This is the third consecutive downward revision after lowering the global oil demand expectations for the next two years in August and September. The report indicates that OPEC has revised down the expected daily global oil demand growth for 2024 from 2.03 million barrels to 1.93 million barrels, with the revised annual average daily oil demand estimated at around 10.4 million barrels. Source: Xinhua News Agency Shenzhen ramps up support for the integrated circuit industry, accelerating the establishment of billion-dollar-level.
There was no good news outflow from the photovoltaic industry association symposium, and some photovoltaic stocks continue to be under pressure. Xinyi Solar (00968) fell by 4.84%.
Golden Finance News | Some photovoltaic power stocks are still under pressure to decline, xinyi solar (00968) fell by 4.84%, gcl tech (03800) fell by 3.42%, flat glass (06865) fell by 2.91%, solargiga (00757) fell by 2.65%. On the news front, the China photovoltaic industry association held a symposium on preventing industry vicious competition, aiming to resolve overcapacity issues earlier. Since this meeting is a closed-door event, specific discussion contents are not disclosed. Some business insiders have expressed expectations for relevant departments to implement specific measures to improve the current industry chain supply and demand balance. However, the actual difficulties remain.
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COWmustMoo OP : looks like the tides is turning..