Xpeng leads rise in HK-listed EV makers on strong China auto sales, exports

Yadea group

10/04/2024 06:47

** Xpeng  9868.HK  led rise in Hong Kong-listed electric
vehicle (EV) makers, surging 7.7% to HK$32.15, on course for the
biggest one-day pct gain since March 1 
    ** Stock hit the highest since March 28; biggest pct gainer
in Hang Seng China Enterprises Index  .HSCE  and Hang Seng Tech
Index  .HSTECH 
    ** Sales of electric passenger vehicles in China rose 10.5%
in March from the same month a year earlier, industry data
showed on Tuesday, as automakers led by popular BYD  1211.HK 
deepened discounts and offered financing tools to boost sales
    ** China's overall car exports jumped 39% to a record
monthly high of 406,000 units in March, quickening from
February's 18% rise
    ** China's EV export boom also fuels surge in demand for new
car-carrying ships, putting China on course to amass the world's
fourth-largest fleet by 2028
    ** Hong Kong stock of BYD Co  1211.HK , Yadea  1585.HK ,
Geely Auto  0175.HK , Li Auto  2015.HK , Leapmotor  9863.HK  and
   NIO  9866.HK  rise between 2.3% and 6.4% 
    ** Hang Seng Automobile Index  .HSAMI  jumps 3.3%, Hang Seng
Tech Index  .HSTECH  surges 2.9%, Hang Seng China Enterprises
Index  .HSCE  rises 2.4%, and Hang Seng Index  .HSI  adds 2.1%
    
    
    

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