Investors also remain focused on forecasting when a rate cut from the Federal Reserve will come to fruition.
Hong Kong-listed shares of Chinese electric vehicle companies rose in late morning trading after China's commerce ministry revealed its plan for 'healthy development of new energy vehicles' in the country. Shares of BYD Company rose 2.7%, Nio jumped 3.3%, while Xpeng and Li Auto gained 1.2% each.
'The healthy development of new energy vehicle trade cooperation will help promote the transformation and upgrading of the automobile industry, and play an important supporting role in stabilizing and optimizing the structure of foreign trade,' the statement read. The Hang Seng index gained 0.3%, while the CSI 300 index added 0.4%. Earlier this year, BYD produced more than 3 million new energy vehicles in 2023, beating U.S.
France Dernières Nouvelles, France Actualités
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