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<Research>JPM Not Suggest Chasing XINYI SOLAR/ FLAT GLASS before 3Q Results Release
Recommend 23 Positive 55 Negative 24 |
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HK-listed Chinese solar energy stocks covered by JP Morgan escalated an average of 6% yesterday (23rd), vs 1% rise in the Shanghai Composite Index over the same period, JP Morgan released a report as saying. The US may revoke certain types of China solar exports from AD/CVD orders, which boosted market sentiment, however, the broker expected the actual impact to be minimal. Regarding potential policy intervention by the Ministry of Industry and Information Technology (MIIT), the broker believed that the likelihood of certain policy actions is not high, as it has not seen direct intervention from regulators in the industry in the past, but it does not rule out such a possibility in the future. If there is indeed policy intervention, the broker expected it to benefit those industries with the most serious glut, unit power/ energy consumption differentiation, and those with production characteristics for which it is harder to lower utilization, namely polysilicon and solar glass. The broker did not recommend chasing XINYI SOLAR (00968.HK) and FLAT GLASS (06865.HK) before the 3Q results announcement, and both were rated Neutral. AAStocks Financial News |
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