China's BYD Co jumps on robust October sales; rivals surge

Wuling Motors Holdings

04/11/2022 04:33

** Hong Kong-listed shares of BYD Co Ltd  1211.HK  rise as
much as 6.1% to HK$198.80, their highest since Oct 21
    ** Stock marks the biggest intraday pct rise since Oct 18;
the fifth-most active traded shares by turnover on the Hong Kong
bourse
    ** BYD Co says October new energy vehicle production volume
increased to 220,107 units from 81,575 units the same period in
2021 while sales volume up 233.9% year-on-year to 217,816 units
 urn:newsml:reuters.com:*:nFWN31Z6NL
    ** Daiwa maintains "buy" rating on the stock on robust sales
volume growth, saying BYD is the least affected by the chip
shortage and offers best value for money for its models  
    ** Shares of BYD Shenzhen  002594.SZ  rise 4.9% to 281 yuan,
their highest since Sept 14 
    ** Shares of rivals also rise, with Hong Kong shares of Li
Auto  2015.HK , Xpeng  9868.HK  and NIO  9866.HK  up between
2.6% and 24.4%
    ** Stock of Wuling Motors  0305.HK  and Geely  0175.HK  up
7.4% and 10.6%, respectively 
    ** Hang Seng Tech Index  .HSTECH  jumps 7.7%, Hang Seng
Composite Index  .HSCI  rises 5.6% and Hang Seng Index  .HSI 
surges 5.7%
    ** As of last close, BYD's Hong Kong-listed stock down 29.7%
this year 
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))