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Benzinga
Benzinga
World
Navdeep Yadav

Nio, Xpeng Rise, While Li Edges Lower: What's Up With Hong Kong EV Stocks?

Shares of U.S.-listed Chinese electric automakers Nio Inc (NYSE: NIO), Xpeng Inc (NYSE: XPEV) rose in Hong Kong trading on Wednesday morning, while Li Auto Inc (NASDAQ: LI) was down.

How Nio, Xpeng, Li Auto Are Faring In Hong Kong Today
Stocks Movement (+/-)
Xpeng Inc 1.91%
NIO Inc 0.19%
Li Auto Inc -0.5%

Stocks of these Tesla Inc. (NASDAQ: TSLA) rivals showed a similar trend in U.S. markets on Tuesday, with Xpeng and Nio ending higher, and Li ending lower.

The Macro Factors: The overall Hang Seng index was trading in the green after a weak start. 

The COVID-19 lockdown in Shanghai and other parts of China continued to roil auto production. But Tesla is restarting its Giga Shanghai factory after it was shuttered for a record duration amid the COVID-19 resurgence in China.

The International Monetary Fund recently downgraded China’s growth forecast to 4.4% from 4.8%, citing pain from its coronavirus restrictions.

Photo courtesy: Xpeng

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