Stock Track | Leapmotor Plummets 5.05% as EV Stocks Face Broad Sell-off in Hong Kong

Stock Track11-20

Leapmotor (09863.HK) shares plunged 5.05% during intraday trading on Thursday, leading a widespread decline in the electric vehicle (EV) sector in Hong Kong. The significant drop in Leapmotor's stock price surpassed initial reports of a 3% decline, underscoring the intense selling pressure faced by the company.

The sell-off was not limited to Leapmotor, as other major players in the EV industry also experienced notable declines. XPeng saw a 5% drop, while Xiaomi fell by 3%. NIO and Li Auto both declined by 2%, and even industry giant BYD was affected, with its shares falling by 1%. This uniform downward movement across the sector suggests broader market concerns affecting EV stocks in the region.

While the exact reasons for the sector-wide decline were not immediately clear, the consistent downward trend among EV stocks indicates that investors may be reassessing their positions in the industry. Analysts are closely monitoring the situation to determine whether this sell-off is a temporary market fluctuation or a sign of more significant challenges facing the EV sector in Hong Kong.

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