Chery Automobile hits 2-month high on strong July vehicle sales, rivals mixed
BUZZ-Chery Automobile hits 2-month high on strong July vehicle sales, rivals mixed ** Shares of China's Chery Automobile 9973.HK climb 3.1% to HK$27.5, their highest level since June 5
** Stock set for biggest one-day pct rise since July 29 in second straight session of gains
** Chery says its July vehicle sales for five major models up 24.1% y/y to 261,876 units
** Chery has agreed to invest $75 million in South Korean automaker KG Mobility Corp 003620.KS through convertible bonds, KG Mobility said. If converted into shares, the bonds would give Chery a stake of about 10% in the company
** Rivals mixed with BYD 1211.HK, Leapmotor 9863.HK, Voyah Automotive 7489.HK up between 0.9% and 2.3%, while NIO 9866.HK, Geely 0175.HK, Great Wall Motor 2333.HK and Li Auto 2015.HK down between 1.5% and 2.8%
** YTD, Chery stock down 11.7%, while benchmark Hang Seng Index .HSI up 1.3%
(Reporting by Donny Kwok)
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