Hong Kong Stocks Movement | Nuclear Power Stocks Broadly Decline: CNNC International (02302) Drops Over 6%, Shanghai Electric (02727) Falls Nearly 5%

Stock News12-16 11:54

Nuclear power-related stocks experienced widespread declines. At the time of writing, CNNC International (02302) dropped 6.63% to HK$4.79, Dongfang Electric (01072) fell 5.79% to HK$22.8, and Shanghai Electric (02727) declined 4.84% to HK$3.93.

The downturn follows recent comments by Elon Musk on social media, where he openly criticized nuclear fusion power generation. Musk stated bluntly, "Building small nuclear fusion reactors on Earth is utterly foolish." He argued that the Sun itself serves as a massive, free fusion reactor in the sky, providing sufficient energy for the entire solar system, making small-scale fusion reactors economically wasteful.

Notably, reports indicate that NVIDIA plans to host an AI power shortage summit this week. Analysts highlight global electricity supply-demand imbalances, including power shortages in the U.S., and recommend long-term opportunities in power-related assets. They point out that the U.S. power system faces a "trilemma" due to decarbonization goals, grid reliability requirements, and the cost-speed demands of AI data centers amid surging electricity consumption driven by AI and extreme weather conditions.

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