Why Are Chinese EV Stocks NIO, LI, XPEV Up Today?
Chinese electric vehicle (EV) stocks are charging higher on Friday as investors hold out hope for easing Covid-19 restrictions.
China’s economy hasn’t been doing well as the country’s government sticks to its zero-Covid policy. However, recent talk suggests the country may start loosening restrictions in the coming months.
Experts are predicting China could see a full reopening in the first half of 2023. If that comes true, Chinese EV stocks will likely benefit from the economy bouncing back. That prospect has investors excited today.
As a result, several Chinese EV stocks are climbing higher today. Let’s go over that movement below!
Chinese EV Stocks Up On Friday
- Nio (NYSE:NIO) stock starts off our list with the EV company’s shares gaining 7.3% as of Friday afternoon.
- Li Auto (NASDAQ:LI) shares join the list next with the Chinese EV company’s stock getting a 7.4% boost as of this writing.
- Xpeng (NYSE:XPEV) closes out our list of Chinese EV stocks rising with the company’s shares jumping an impressive 18.5% this afternoon.
Other Chinese Stocks Are Also Rising
While Chinese EV stocks are definitely seeing strong movement today, they’re not the only ones benefiting from today’s news. Many Chinese stocks are gaining today as well, and you can learn more about that at this link.
There’s also other hot stock market news worth diving into below!
Our coverage for Friday brings some of the top stock market stories. Among that is what has shares of Bath & Body Works (NYSE:BBWI), Meta Materials (NASDAQ:MMAT) and Rigel Pharmaceuticals (NASDAQ:RIGL) stock moving today. You can get up to speed on that news below!
More Friday Stock Market News
- BBWI Stock Climbs as Bath & Body Works Candle Day Sale Kicks Off
- Dear MMAT Stock Fans, Mark Your Calendars for Dec. 12
- Rigel Pharmaceuticals (RIGL) Stock Soars on FDA Approval News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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