On June 11, XPeng Inc fell 5.28% in regular trading, trading at $14.07/share, with trading volume of $43.97 million.
On the news front, Hong Kong-listed tech and auto stocks suffered a broad selloff, with the Hang Seng Tech Index dropping nearly 3%. XPeng's Hong Kong-listed shares fell nearly 7%, while Alibaba and SenseTime declined over 5%, and BYD, Baidu, JD.com, and Li Auto each fell over 4%. The weakness in Hong Kong markets spilled over into U.S.-listed Chinese EV names.
Analysts attributed the decline to two main factors. First, external liquidity conditions are tightening, with U.S. stock futures weakening during Asia trading hours and the Fed signaling a hawkish shift — Danske Bank now expects rate hikes of 25 basis points each in December and March of the following year. Second, recent excessive gains in related sectors showed signs of frothiness, prompting profit-taking on positive catalysts. The reappearance of the so-called seesaw effect between Japan/Korea equities and Hong Kong stocks is also seen as a signal of tightening global liquidity.
Within the Automobile Manufacturers sector, Tesla up 0.03%, Ford down 0.8%, Rivian down 1.56%, Ferrari up 3.17%, NIO up 0.48%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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