XPENG-W stock surged 6.20% in pre-market trading on Tuesday, joining a broader rally in U.S.-traded Chinese companies fueled by optimism over potential economic stimulus measures from Beijing.
The upswing followed remarks by China's Politburo, quoted by state media Xinhua, signaling an "appropriately loose" monetary policy and proactive fiscal policy to spur economic growth next year. This represents the first easing of China's monetary stance in 14 years.
The news sparked a surge in Chinese stocks, with the electric vehicle (EV) sector leading the gains. Shares of XPENG's rival EV makers, Li Auto and Nio, climbed 11% and 13.8%, respectively, while XPENG itself rallied around 15% in U.S. trading.
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