Hong Kong stocks opened mixed on Wednesday morning as investors and traders remained cautious over recession concerns that sparked a weak session on Wall Street the day before.
Electric vehicle stocks mostly advanced in the week ending Dec. 2, helped by market-wide optimism over a potential Fed pivot and some company-specific catalysts. The Chinese EV trio of Nio, Inc. (NYSE: NIO), XPeng, Inc.
It’s the time of the month when Chinese electric vehicle makers disclose their monthly deliveries, and this time around, the country's COVID-19 restrictions and lockdowns have cast a cloud on both production and demand.
Volkswagen AG (OTC: VWAGY) (OTC: VWAPY) said that despite some sales gains in recent months, it expects its market share in China to be around 16% this year, down from 20% since 2019.