BUZZ-BYD shares surge on strong Oct sales, rivals rise

Reuters
04 Nov 2024

** Hong Kong shares of China's biggest EV maker BYD surge 5.6% to HK$293.20, while its Shenzhen shares jump 6.4% to 308.92 yuan

** Hong Kong stock on course to snap three-session losing streak; second biggest pct gainer in Hang Seng Index and Hang Seng Commerce & Industry Index which climb 0.2% and 0.4% respectively ** BYD said total sales in October at 502,657 vehicles, up 66.5% Y/Y ** BYD, which posted an 11.5% Y/Y rise in Q3 net profit as it maintained strong sales momentum, ramped up production by nearly 200,000 units from August to October, while hiring close to 200,000 new employees in car manufacturing and components, Executive Vice President He Zhiqi said on Weibo

** Hong Kong shares of rivals Xpeng jump 5.8%, Li Auto surges 4.2%, Great Wall Motor rises 4%

** Geely climbs 4.1% and Leapmotor adds 3.6%

** BYD's Hong Kong stock rose 35.2% YTD, Shenzhen shares up 54.2% YTD

(Reporting by Donny Kwok) ((donny.kwok@thomsonreuters.com))

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