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Alibaba holds it together, EV stocks shine as wider Hang Seng falls: Key events driving Hong Kong stocks today

Benzinga Real-time News ·  Aug 11, 2022 22:47

Hong Kong's benchmark index $Hang Seng Index(800000.HK)$ today opened in the red, losing 0.03% in Friday morning trade as investors took cues from a mixed session on Wall Street the day before. U.S. indices ended mixed earlier on Thursday despite a fall in the producers' prices.

EV shares surged in Hong Kong trading on Friday. $Tesla(TSLA.US)$ rival $XPENG-W(09868.HK)$'s shares shot up over 4% in morning trade while $NIO-SW(09866.HK)$ and $Li Auto-W(02015.HK)$ gained over 2%.
Hong Kong Stocks Today
StockMovement
$BABA-SW(09988.HK)$
0.65%
$JD.com, Inc.-SW(09618.HK)$
-0.09%
$BIDU-SW(09888.HK)$
-0.88%
$TENCENT(00700.HK)$   -0.72%
$Meituan-W(03690.HK)$
0.51%
Nio Inc 2.22%
XPeng Inc 4.29%
Li Auto Inc 1.29%


Company News: Chinese EV maker NIO Inc has launched its support for Formula Student Germany, a move that could be seen as part of the firm's efforts in building its brand image in the country, reported CnEVPost.

Chinese ride-hailing firm Didi Chuxing's joint venture with Li Auto has applied for bankruptcy, according to a court filing, which could mark the end of a four-year-old partnership to make electric vehicles, reported Reuters.

Global Markets: U.S. indices ended mixed on Thursday taking a breather from the recent rally. The Nasdaq ended 0.58% down while the S&P 500 shed 0.07%. The Dow Jones Industrial Average rose 0.08%.

Elsewhere in Asia, Australia's ASX 200 lost 0.58% during Friday morning trade. Japan's Nikkei 225 gained over 2% while the South Korean Kospi fell 0.19%. China's Shanghai Composite index was trading flat.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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