Malaysia's renewable energy sector saw explosive gains today, with multiple solar concept stocks hitting limit up and the sector rising over 8% overall.
Main factors driving the sector's rise:
1. Policy support: The government announced it will invest RM50 billion in renewable energy development by 2030, targeting 40% renewable energy share.
2. Carbon neutrality goal: Malaysia has committed to achieving carbon neutrality by 2050, which will drive significant green investment.
3. International fund inflows: ESG funds continue to increase holdings in Malaysian renewable energy stocks.
Best performing stocks: - Solarvest Holdings: +30% (limit up) - Samaiden Group: +25% - Pekat Group: +20%
Analysts remind that the renewable energy sector has seen significant short-term gains, and investors should be aware of risks.