Shares of Chinese companies, including Nio Inc - ADR (NYSE:NIO), are trading lower as investors assess the economic impact of a surge in COVID cases in China.
According to an SCMP report, Hong Kong will start easing social-distancing rules that have been in place for months from April 21, including an extension of dine-in hours for restaurants. It added that people would be permitted to take off their masks when visiting parks and exercising outdoors.
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Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence.
According to data from Benzinga Pro, Nio is trading lower by 4.21% at $19.55. Nio has a 52-week high of $55.13 and a 52-week low of $13.01.
