Stock Track | XPeng Inc. Soars 5.45% as Chinese ADRs Rally

Stock Track2024-11-11

XPeng Inc. (XPEV), a leading Chinese electric vehicle manufacturer, saw its stock soar by 5.45% in the past 24 hours. This surge came as Chinese American Depositary Receipts (ADRs) and Exchange-Traded Funds (ETFs) experienced a broad rally in overnight trading.

According to reports, XPEV's shares climbed over 4%, while other prominent Chinese stocks also witnessed significant gains. Alibaba (BABA) and Li Auto (LI) rose more than 3%, while NIO (NIO), JD.com (JD), and PDD (PDD) increased by around 2%.

The rally in Chinese ADRs and ETFs appears to be driven by positive investor sentiment towards the Chinese market. Additionally, China's A50 index futures, which initially declined by 1.4%, turned positive during the trading session, further fueling the optimism surrounding Chinese equities.

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