0352 GMT - U.S. lawmakers' push to target China's new-energy sector will likely continue to be an overhang, especially before the U.S. elections, Daiwa analysts Dennis Ip and Leo Ho say in a research note. A group of U.S. lawmakers has written letters requesting battery makers CATL and Gotion High-Tech be added to an import ban list over forced labor allegations. The event itself isn't a surprise as a similar letter was issued last year, Daiwa says. The brokerage thinks subsectors such as solar and battery materials could continue to face geopolitical risks as well as industrywide oversupply issues, which will take time to digest. Daiwa stays cautious on the sector but likes the grid-equipment subsegment. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
June 10, 2024 23:52 ET (03:52 GMT)
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