Stock Track | Geely Auto Soars 11.71% Amid Broad Market Rally and Stimulus Hopes

Stock Track

Oct 10, 2024

Geely Automobile Holdings Ltd., one of China's leading automakers, experienced a remarkable surge of 11.71% in its stock price on October 10th, riding on the wave of a broad market rally and expectations of further government stimulus measures.

The Hong Kong stock market witnessed a significant upswing, with the Hang Seng Index climbing 2.98% and the Hang Seng Tech Index rising 2.05%. This positive market sentiment played a crucial role in propelling Geely Auto's shares higher.

Fueling the market's enthusiasm was China's central bank's announcement of a 500-billion-yuan swap facility, allowing securities, fund, and insurance firms to access liquid assets for stock purchases. This stimulus package, part of a broader economic support initiative, ignited a rally in equities across various sectors, including the automotive industry.

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This positive market sentiment played a crucial role in propelling Geely Auto's shares higher.</p>\n\n<p>Fueling the market's enthusiasm was China's central bank's announcement of a 500-billion-yuan swap facility, allowing securities, fund, and insurance firms to access liquid assets for stock purchases. This stimulus package, part of a broader economic support initiative, ignited a rally in equities across various sectors, including the automotive industry.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00175","symbol_name":"吉利汽车","start_time":0,"source_url":"","article_id":"1166751834","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1166751834","pubTimestamp":1728549183,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Geely Automobile Holdings Ltd., one of China's leading automakers, experienced a remarkable surge of 11.71% in its stock price on October 10th, riding on the wave of a broad market rally and expectations of further government stimulus measures.The Hong Kong stock market witnessed a significant upswing, with the Hang Seng Index climbing 2.98% and the Hang Seng Tech Index rising 2.05%. 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