Hong Kong EV Stocks Jump with Li Auto Rising Nearly 7%

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Hong Kong EV Stocks Jump with Li Auto Rising Nearly 7%

Tiger Newspress10:15

Hong Kong stocks rose in morning trading. HK’s Hang Seng Index rose 0.3%, the Hang Seng Tech Index rose 0.7%.

Electric vehicle makers jumped in morning trading. Geely Automobile rose 7.5%; Li Auto rose 6.6%; XPeng rose 5%; Nio rose 2.6%.

China's new energy-vehicle (NEV) sales grew further to a record high last month, as the automotive market enters its busy season.

In September, China's NEV sales reached a record high of 1,287,000 units, surpassing the previous record of 1,191,000 units in December last year, according to data released today by the China Association of Automobile Manufacturers (CAAM). This represents a year-on-year increase of 42.3 percent and a 17 percent increase from August.

German Chancellor Olaf Scholz last Thursday expressed his opposition to tariff conflicts while delivering a statement to the press in Brussels. Scholz stressed that such conflicts lead nowhere and emphasized the importance of using the World Trade Organization to resolve trade disputes.

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