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Market Chatter: GCL Technology Holdings Unit to Spend 700 Million Yuan to Produce Next-Gen Solar Cells
Hong Kong stocks closed (08.06) | The Hang Seng Index fell 0.31%, with strong performances from education, medical, and photovoltaic stocks. Yum China (09987) soared 10% after its earnings report.
After the sharp drop in Asia-Pacific stock markets, they rebounded. Hong Kong stocks opened high collectively in the morning, and the Hang Seng Index once rose 1.77%; in the afternoon, the three major indexes all fell and the Hang Seng Index performed relatively resilient, repeatedly turning red during the session.
Minsheng Securities: Silicon material prices are expected to stabilize and rebound, and inventory clearance will accelerate.
Currently, the silicon material price is at a bottom, some second and third tier manufacturers are reducing the supply of silicon material by carrying out maintenance or shutdowns, the silicon wafer production rate is increasing, the listing of futures is expected to accelerate the inventory turnover, and drive the demand.
Hong Kong stocks fluctuate | Flat Glass (06865) rose more than 10%, leading the photovoltaic stocks, and the silicon material prices may stabilize and rebound. The industry's overcapacity is expected to accelerate.
As PV stocks rise, as of press time, Flat Glass (06865) is up 10.39%, reporting HKD 12.36; GCL Tech (03800) is up 9.71%, reporting HKD 1.13; Xinyi Solar (00968) is up 3.71%, reporting HKD 3.63.
HK stocks see a sudden change | GCL Tech saw its stock rise by over 8% at the opening bell, with polycrystalline silicon futures about to be listed and institutions saying it is likely to accelerate inventory turnover.
GCL Tech (03800) rose nearly 8% in early trading. As of the time of publication, it was up 7.77%, trading at HKD 1.11 with a turnover of HKD 0.102 billion.
Hong Kong Stock Market Concept Tracking | Polysilicon prices are expected to stabilize and rebound, leading photovoltaic companies are expected to cross the cycle (including concept stocks)
Leading silicon material enterprises are expected to cross the cycle with cost control and operational advantages.
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