Chinese electric vehicle maker XPENG Inc's Hong Kong-listed shares (09868) soared 7.46% on Monday, outperforming the broader market rally in the intraday trading session.
The stock surge came amid data showing a pickup in China's manufacturing activity last month, signaling economic resilience despite ongoing US tariff threats. The Caixin manufacturing Purchasing Managers' Index rose to 50.8 in February from 50.1 in January, beating economists' forecasts.
Adding to the positive sentiment, Hong Kong stocks extended gains on Monday, with the Hang Seng Index climbing 1.5%. XPENG was among the top advancers, rising 6.5%, as traders anticipated China will ramp up fiscal spending to bolster domestic demand, offsetting risks from US tariffs. Inflows from mainland investors also underpinned the Hong Kong market rally.
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