Geely Auto, a prominent Chinese automaker, witnessed a remarkable surge in its stock price, soaring by nearly 7% on Monday. This significant upward movement was part of a broader rally in Chinese auto stocks listed in Hong Kong.
Other major players in the Chinese auto industry also experienced substantial gains, with XPeng and Geely Auto both rising nearly 7%, while GWMOTOR and BYD saw increases of over 5%. Additionally, Brilliance China climbed 4.8%, LI Auto rose 4.1%, and NIO saw a 0.8% increase.
The surge in Chinese automaker stocks is likely driven by positive sentiment and optimism surrounding the domestic auto industry, as investors anticipate continued growth and strong performance from these companies.
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