Shares of U.S.-listed Chinese tech companies rose in Hong Kong on Tuesday as the benchmark Hang Seng Index extended gains to a second straight session.
| Stock | Movement (+/-) |
|---|---|
| Nio Inc. (NYSE:NIO) | +4.6% |
| Tencent Holdings Limited (OTC:TCEHY) | +2.3% |
| JD.com Inc. (NASDAQ:JD) | +2.3% |
| Alibaba Group Holding Limited (NYSE:BABA) | +1.7% |
| Baidu Inc. (NASDAQ:BIDU) | +1.7% |
| Li Auto Inc. (NASDAQ:LI) | +1.2% |
| Xpeng Inc. (NYSE:XPEV) | +0.2% |
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The Macro Factors: The benchmark Hang Seng Index opened higher and was up 0.5% at press time. The index closed 1.3% higher on Monday.
The market extended gains as investors went bargain-hunting for beaten-down technology stocks. Risk appetite also received a boost amid hopes of a peace deal between Russia and Ukraine.
Companies In The News: Electric vehicle maker Nio, a Tesla Inc. (NASDAQ: TSLA) rival, confirmed that deliveries of its flagship ET7 sedan commenced on Monday.
Xpeng on Monday reported a narrower-than-expected loss for the fourth quarter on strong revenue growth.
Electric vehicle maker BYD Co. (OTC: BYDDF), backed by veteran investor Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B), is scheduled to report its fourth-quarter results later today.
Shares of most Chinese companies ended higher in U.S. trading on Monday after the major averages ended in positive territory amid hopes about a peace deal between Russia and Ukraine.
Nio closed 6.5% higher in the regular trading session at $21.20, but lost 0.7% in the after-hours session to $21.05, according to data from Benzinga Pro.
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