Shares of Chinese electric vehicle maker Li Auto soared 11.38% in Hong Kong trading on October 2nd, hitting their highest level since April 12th. The surge came after the company reported impressive delivery figures for September, fueling investor optimism about its growth prospects.
Li Auto delivered 53,709 vehicles last month, a staggering 48.9% increase year-over-year. This robust performance outpaced its domestic rivals, positioning Li Auto as a leader in the highly competitive Chinese EV market. The company's strong delivery numbers were a key driver behind the share price rally, lifting sentiment across the broader Chinese EV sector.
The stock's rally also contributed to the broader gains in Hong Kong's Hang Seng Index and Hang Seng Tech Index, which rose 2.3% and 3.8%, respectively, on the day. Other Chinese EV makers, such as NIO, BYD, Geely, Leapmotor, and Xpeng, also saw their shares rise in sympathy with Li Auto's strong performance.
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