China’s economy suffers blow as factory activity slows
$BYD COMPANY(01211.HK$ $NIO Inc(NIO.US$ $XPeng(XPEV.US$ $Tesla(TSLA.US$
The article reported that China official manufacturing purchasing managers’ index stood at 49.1 for February, according to figures released on Friday, slipping from a reading of 49.2 in January and in line with a Reuters analyst forecast. A reading below 50 marks a contraction from the previous month.
The article reported that China official manufacturing purchasing managers’ index stood at 49.1 for February, according to figures released on Friday, slipping from a reading of 49.2 in January and in line with a Reuters analyst forecast. A reading below 50 marks a contraction from the previous month.
Comment: For EV, this contraction reflects the decrease in domestic demand and automakers especially those (like Nio and Xpeng)still making losses and sales predominantly in China will be hit hardest. Tesla will be safe as the company has a large overseas market in US, EU, Canada etc.
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
2321Followers
85Following
9913Visitors
Follow