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Nio, Xpeng Rise, While Li Edges Lower: What's Up With Hong Kong EV Stocks?

Published 20/04/2022, 05:37
© Reuters.  Nio, Xpeng Rise, While Li Edges Lower: What's Up With Hong Kong EV Stocks?
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Shares of U.S.-listed Chinese electric automakers Nio Inc (NYSE: NIO), Xpeng Inc (NYSE: NYSE:XPEV) rose in Hong Kong trading on Wednesday morning, while Li Auto Inc (NASDAQ: LI) was down.

How Nio, Xpeng, Li Auto Are Faring In Hong Kong Today Stocks Movement (+/-)
Xpeng Inc 1.91%
NIO Inc 0.19%
Li Auto Inc -0.5%
Stocks of these Tesla Inc. (NASDAQ: TSLA) rivals showed a similar trend in U.S. markets on Tuesday, with Xpeng and Nio ending higher, and Li ending lower.

The Macro Factors: The overall Hang Seng index was trading in the green after a weak start.

The COVID-19 lockdown in Shanghai and other parts of China continued to roil auto production. But Tesla is restarting its Giga Shanghai factory after it was shuttered for a record duration amid the COVID-19 resurgence in China.

The International Monetary Fund recently downgraded China’s growth forecast to 4.4% from 4.8%, citing pain from its coronavirus restrictions.

Photo courtesy: Xpeng

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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