Global solar stocks jumped as investors bet on a Democratic sweep in the US midterm elections, which could boost clean energy policies. South Korea’s Hanwha Solutions rose as much as 10%, while HD Hyundai Energy Solutions and OCI Holdings gained over 6%. US solar firms Enphase Energy and Solar Edge surged up to 12% on Blue Ocean, with First Solar and Sunrun climbing 11% and 8.7% respectively.
A Democratic Congress is expected to support renewable energy and challenge Trump-era anti-solar tariffs, benefiting companies like Hanwha’s Qcells, which operates large US factories. The rally also reflects a rotation from AI stocks to clean energy. Korea’s Kospi fell 3.7% and Nasdaq 100 futures dropped 2.4% amid expectations of tighter tech regulation under Democratic control.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing