China's Geely Auto rises most in nearly six weeks on strong sales

Wuling Motors Holdings

10/01/2023 07:10

** Shares of China's Geely Automobile Holdings Ltd  0175.HK 
rise as much as 7% to HK$12.48, and on course for the biggest
daily pct rise since Nov. 30, if gains hold
    ** Stock is the second-biggest pct gainer in Hang Seng Index
 .HIS , Hang Seng Commerce & Industry Index  .HSNC  and Hang
Seng China Enterprises Index  .HSCE  
    ** The Chinese automaker said total sales volume for 2022
rose 8% to 1.43 mln units, of which pure EV volume surged 328%
to 262,253 units  urn:newsml:reuters.com:*:nFWN33R2LM
    ** Daiwa reaffirms "buy" rating, expecting Geely to maintain
its solid market position, supported by competitive fuel
consumption rates and robust demand for some of its models
    ** Rivals also rise with BYD  1211.HK , Wuling Motors
 0305.HK , Xpeng  9868.HK , NIO Inc  9866.HK  and Li Auto
 2015.HK  up between 1.2% and 5.7%
    ** Hang Seng Commerce & Industry Index  .HSNC  slips 0.2%
while Hang Seng China Enterprises Index  .HSCE  and Hang Seng
Index  .HIS  both ease 0.4%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))