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Dow Jones Newswires: China EV makers’ shares rise as Beijing plans further support for auto sector

Dow Jones Newswires

A vehicle from electric car maker NIO sits outside of the New York Stock Exchange (NYSE), September 12, 2018 in New York City.

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Shares of major Chinese electric car makers jumped in Hong Kong, as investors welcomed Beijing’s latest plan to launch more auto consumption stimulus measures.

NIO Inc. SG:NIO soared as much as 7.4% within an hour of trading, and shares were last up 6.7%. XPeng Inc. HK:9868 gained 2.8% and Geely Automobile Holdings Ltd. HK:175 added 2.5%. The U.S.-listed shares of NIO NIO and XPeng advanced 8.0% and 5.5%, respectively, on Wall Street overnight.


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