Why XPeng Inc. Stock Is Up

XPeng Inc. XPEV shares are trading higher Friday as investors show renewed interest in several Chinese stocks amid hopes for improving growth.

The Details:

Chinese regulators are loosening restrictions on the movement of foreign capital in an effort to attract foreign investors and aid with the country's economic recovery. Investors have reacted positively to the news, and Chinese stocks are moving higher in early trading Friday. 

Shares of XPEV are up on above-average trading volume, though the stock remains down 8% over the last five days.

According to data from Benzinga Pro, more than 4.46 million shares have already been traded in the session, compared to the stock's 100-day average of just over 20.5 million shares.

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XPEV Price Action: According to Benzinga Pro, XPeng Inc. shares are up 4.5% at $16.61 at the time of publication.

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