Shares of U.S.-listed Chinese tech companies rose in Hong Kong on Tuesday as the benchmark Hang Seng Index extended gains to a second straight session.
| Stock | Movement (+/-) |
|---|---|
| Nio Inc. NIO | +4.6% |
| Tencent Holdings Limited TCEHY | +2.3% |
| JD.com Inc. JD | +2.3% |
| Alibaba Group Holding Limited BABA | +1.7% |
| Baidu Inc. BIDU | +1.7% |
| Li Auto Inc. LI | +1.2% |
| Xpeng Inc. XPEV | +0.2% |
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The Macro Factors: The benchmark Hang Seng Index opened higher and was up 0.5% at press time. The index closed 1.3% higher on Monday.
The market extended gains as investors went bargain-hunting for beaten-down technology stocks. Risk appetite also received a boost amid hopes of a peace deal between Russia and Ukraine.
Companies In The News: Electric vehicle maker Nio, a Tesla Inc. TSLA rival, confirmed that deliveries of its flagship ET7 sedan commenced on Monday.
Xpeng on Monday reported a narrower-than-expected loss for the fourth quarter on strong revenue growth.
Electric vehicle maker BYD Co. BYDDF, backed by veteran investor Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B), is scheduled to report its fourth-quarter results later today.
Shares of most Chinese companies ended higher in U.S. trading on Monday after the major averages ended in positive territory amid hopes about a peace deal between Russia and Ukraine.
Nio closed 6.5% higher in the regular trading session at $21.20, but lost 0.7% in the after-hours session to $21.05, according to data from Benzinga Pro.
Read Next: Tesla Bull Cathie Wood Increased Stake in This Warren Buffett-backed Chinese EV Maker On Monday
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