Stocks of solar energy-related stocks in South Korea traded sharply lower Monday on concerns that the United States may take safeguard measures against solar panels imported from China and other countries, analysts said.
OCI, South Korea's top producer of polysilicon, had sunk 5.16 percent to 101,000 won ($89) on the Seoul bourse as of 9:55 a.m., and No. 2 player Hanwha Chemical Corp. was 6.6 percent down at 33,250 won.
Polysilicon is an essential raw material for solar cells to convert sunlight into electricity.
On Friday, the International Trade Commission, a US trade commission, said low-cost foreign solar panels have caused serious damage to American firms, raising the chance that the Donald Trump administration may impose tariffs.