Geely leads rise in Hong Kong-listed EV makers as China raises subsidies

Reuters

Geely leads rise in Hong Kong-listed EV makers as China raises subsidies

2024 7월 26 일, 오전 2:52 GMT

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** Geely Automobile 0175.HK leads rise in Hong Kong-listed electric vehicle (EV) makers, rising 3.2% to HK$8.04, on track for the biggest one-day pct gain since June 19

** Stock on course to snap six straight sessions of decline

** China will allocate 300 bln yuan ($41.40 bln) in ultra-long treasury bonds to support a programme of equipment upgrades and consumer goods trade-ins, the government said on Thursday, in the latest step to spur an economic recovery

** According to the notice, China will raise subsidies for qualified buyers of new energy passenger cars to 15,000-20,000 yuan each, from 10,000 yuan announced in April, among other subsidies

** Hong Kong shares of Xpeng 9868.HK, BYD 1211.HK, Leapmotor 9863.HK, Li Auto 2015.HK, Xiaomi 1810.HK and Dongfeng 0489.HK rise between 0.5% and 1.8%

** China-listed stock of Great Wall Motor 601633.SS, BYD 002594.SZ, and Dongfeng 600006.SS up between 0.6% and 5.5%

** The blue-chip CSI 300 Index .CSI300 slips 0.3% and the Shanghai Composite Index .SSEC eases 0.4%

** In Hong Kong, Hang Seng Tech Index .HSTECH climbs 0.2%, Hang Seng Automobile Index .HSAMI rises 1.3% and Hang Seng Index .HSI gains 0.1%

Reporting by Donny Kwok; editing by Miral Fahmy

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Geely leads rise in Hong Kong-listed EV makers as China raises subsidies

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