The Macro Factors: Amid the positive cues from the global peers, the benchmark index Hang Seng opened in green and was up 1.29% at the time of writing. 

This came after U.S. stocks rebounded on Wednesday following a sharp sell-off Tuesday. The Shanghai Composite Index gained over 1%, and Japan's Nikkei 225 was up 0.61%. 

Investors' risk appetite received a boost amid declining COVID-19 cases in mainland China, with the financial hub Shanghai's new infections falling to a three-week low. Shanghai is the hub for many EV makers, including Tesla. 

Companies In The News: Cathie Wood-Backed Xpeng has agreed with the Agricultural Bank of China, a state-owned bank, for a comprehensive credit line of up to 7.5 billion yuan ($1.14 billion).

Deutsche Bank analysts in an investor note said Xpeng’s upcoming sales figures at the end of the week would be a catalyst for the company’s stock rebound, according to CnEVPost.