China's Great Wall Motor drops most in 4 weeks as May sales plunge; rivals slip

Baic Motor

09/06/2022 09:19

** Hong Kong-listed shares of Great Wall Motor  2333.HK 
fall as much as 5.8% to HK$14.08, their biggest intraday pct
drop since May 10
    ** Stock hits the lowest since June 2; among the 30 most
actively traded by turnover on the Hong Kong bourse
    ** Great Wall  601633.SS  says it sold 80,062 vehicles in
May, down 7.9% from a year-ago period, and it sold 19.4% less
vehicles in January-May period as compared with last year 
 urn:newsml:reuters.com:*:nP8N2XM00Z
    ** Shanghai-listed shares of Great Wall  601633.SS  fall
4.8%
    ** Daiwa maintains "buy" on Great Wall as sales volume is
pretty much in line with the entire passenger vehicles market,
but sees risk from supply chain disruption amid pandemic
lockdown which may hit auto components production  
    ** China's sales of passenger vehicles in May fell 17%
year-on-year to 1.35 mln units, according to data from the China
Passenger Car Association (CPCA)  urn:newsml:reuters.com:*:nL1N2XV0O0
    ** Hong Kong shares of rivals Guangzhou Automobile Group
 2238.HK , BAIC Motor  1958.HK , Geely Automobile  0175.HK ,
Donfeng Motor  0489.HK  and BYD Co  1211.HK  fall between 0.5%
and 4.2% 
    ** Hang Seng Commerce & Industry Index  .HSNC  falls 1%,
Hang Seng Composite Index on industrials  .HSCIIG  drops 2.8%
and Hang Seng Index  .HSI  slips 0.6%
    

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))