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 NIOXpeng Inc XPEV rose in Hong Kong trading on Wednesday morning, while Li Auto Inc 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. 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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