Alibaba Rises Nearly 3%, EV Stocks Strike Major Gains As Hang Seng Opens On High Note Over Strong Wall Street Cues

Benzinga2022-08-11

Hong Kong’s Hang Seng Index rose over 1.3% in Thursday morning trade in line with positive cues from Wall Street the day before after July consumer inflation in the U.S. came in at 8.5%, below the expected figure of 8.7%, calming fears about aggressive rate hikes by the Fed.

Shares of Alibaba and XPeng rose over 2.5% while NIO shares shot up close to 6%.

Company News: Deliveries of Warren Buffett-backed electric vehicle maker BYD’s blade batteries to Tesla Inc’s Berlin factory have already commenced, reported CnEVPost, citing Sina Tech. BYD contributed about one-third of China's NEV sales in July with the firm’s retail sales getting recorded at 158,957 units, reported CnEVPost.

NIO's flagship sedan ET7 has lost the top spot in the latest premium sedan sales ranking in China, as its deliveries fell, reported CnEVPost. The report stated that with 2,473 retail sales in July, the ET7 ranked No. 8.

Global Markets: The tech-heavy Nasdaq index rose 2.89% while the S&P 500 gained 2.13%. The Dow Jones Industrial Average rose 1.63% after inflation pressures showed signs of easing in July.

Elsewhere in Asia, Australia’s ASX 200 rose 0.9% during the Thursday morning trade. The South Korean Kospi rose 1.31%. China’s Shanghai Composite index was up 0.34%. Japanese markets remain closed on Thursday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

LearnerAdi
2022-08-11
LearnerAdi
Nice 👍🏼
Jason_LSE
2022-08-11
Jason_LSE
Even Soft Bank is cashing out. [Grin] [Sly] [Thinking]
Edmundse
2022-08-11
Edmundse
Here we go👍
tigerrtrader
2022-08-11
tigerrtrader
Oooo
yeo
2022-08-11
yeo
Gd

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[Grin] [Sly] [Thinking]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9907209836","repostId":1109348049,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9907673981,"gmtCreate":1660188824445,"gmtModify":1703478928186,"author":{"id":"4107392014931890","authorId":"4107392014931890","name":"Edmundse","avatar":"https://community-static.tradeup.com/news/f3701fd4020b24e1f008b7291a066aa7","vip":1,"hat":"https://static.tigerbbs.com/306aa047bc14b6942cda1aed925cf8c3","crmLevel":7,"crmLevelSwitch":1,"idStr":"4107392014931890","authorIdStr":"4107392014931890"},"htmlText":"Here we go👍","listText":"Here we go👍","text":"Here we go👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9907673981","repostId":1109348049,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9907658021,"gmtCreate":1660186295665,"gmtModify":1703478898032,"author":{"id":"4101341454314990","authorId":"4101341454314990","name":"tigerrtrader","avatar":"https://static.itradeup.com/news/b38a901da6c34fafef43d4861653a055","vip":1,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":5,"crmLevelSwitch":1,"idStr":"4101341454314990","authorIdStr":"4101341454314990"},"htmlText":"Oooo","listText":"Oooo","text":"Oooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9907658021","repostId":1109348049,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9907625650,"gmtCreate":1660185334473,"gmtModify":1703478887097,"author":{"id":"3558440698099291","authorId":"3558440698099291","name":"yeo","avatar":"https://static.tigerbbs.com/f2ac157a0de74e3fac334b84c7779a75","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":0,"idStr":"3558440698099291","authorIdStr":"3558440698099291"},"htmlText":"Gd","listText":"Gd","text":"Gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9907625650","repostId":1109348049,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":64,"commentSize":5,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1109348049"}