China’s Hot EV and Solar Stocks Have More Room to Run, Funds Say
- CATL and LONGi Green jumped to all-time highs this week
- UBS Wealth sees outperformance for solar glass makers in 2H
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Some of the world’s biggest money managers say the strong rally in China’s renewable energy stocks has more legs, citing the sector’s rosy earnings prospects and policy support.
BlackRock Inc., Aberdeen Standard Investments Ltd. and UBS Global Wealth Management are among those backing investments in Chinese electric vehicle-related companies and solar firms. Their endorsement comes as the world’s largest battery maker Contemporary Amperex Technology Co. and major solar producer LONGi Green Energy Technology Co. hit record highs this week after surging more than 40% each in the last quarter.