Solar Stocks Plunge Worldwide as Germany Accelerates Rate Cuts
BUSINESSWEEK - Solar stocks plunged around the world after Germany, the largest market for sun-based power, said it will accelerate reductions to preferential rates it pays to solar utilities to reduce spiraling costs.
GCL-Poly Energy Holdings, Asia’s second-biggest maker of polysilicon used in solar panels, fell the most in more than two months on the Hang Seng Composite Index, closing down 6.3 percent to HK$2.52. Seoul-based OCI Co., Asia’s biggest polysilicon maker, fell 2.3 percent after declining as much as 4.1 percent in earlier trading on the Korea Stock Exchange.
