Nikkei down over 10% on Tuesday. 10%! And Nikkei did extremly poorly on Monday as well. Poor Japan, I hope they will be spared of more misery now and that damages can be mended effectively. It is comforting to see the international support for Japan.
Back to the stock exchanges however, one can’t help but notice that solar stocks have skyrocketed the last two days.
While the world markets have been down two days in a row, solar stocks have bucked the trend and skyrocketed as much as 20% in two days. And the momentum keeps building up.
The worlds largest producers of solar panels, Suntech Power and Yingli Green have shot through the roof today, with Yingli Green up from 10.50 on Friday to 12.25 today, Tuesday.
Solar stocks have been upgraded, nuclear power companies, such as Hitachi, that built the nuclear reactors in Japan have been hammered and downgraded, and even oil companies are being downgraded at the time of this writing.
Could this finally become the moment for solar companies to shine, not just economically as they already have over the last few years, but shine with a solid position ideologically and become immune to political instability from now on?