At press time, NIO was up 3.33 percent in Hong Kong to a two-month high, while the Hang Seng Index was down 2.51 percent.
NIO shares continue to trade higher in Hong Kong, despite the overall market selloff today, extending its post-second-quarter earnings rally into the third day.
At press time, NIO was up 3.33 percent to HK$173.80, a two-month high, bringing its cumulative gain over the past three trading days to about 28 percent.
By contrast, Hong Kong stocks were generally lower in early trading Wednesday, following the plunge in US stocks overnight. At press time, the Hang Seng Index was down 2.51 percent and the Hang Seng Tech Index was down 2.85 percent.
Tuesday's release of higher-than-expected US CPI data led money markets to bet that the Federal Reserve had a 100 percent probability of raising interest rates by at least 75 basis points in September.
This led to a plunge in the US stock market overnight, with the Nasdaq Composite Index closing down 5.16 percent on Tuesday, the biggest drop since June 2020. The Nasdaq Golden Dragon China Index also closed down 3.27 percent.
But NIO and Li Auto remained up overnight in the US, up 1.01 percent and 2.84 percent, respectively. XPeng was down 1.34 percent in the US.
NIO reported second-quarter revenue that beat expectations on September 7, but a significantly wider loss caused shares to suffer heavy sell-off in pre-market trading that day, but closed the day up 2.16 percent.
In the past few days, consumer frenzy has sparked aggressive bets on the company as NIO's new ET5 model began allowing consumers to lock in orders.
In a research note released on Monday, CITIC Securities analyst Yin Xinchi's team believes that NIO is standing at the inflection point of scale effect and is expected to see a revaluation.
As of Tuesday's close, NIO has risen for the fourth consecutive session in the US, with a cumulative gain of 28.4 percent.
XPeng will hold its online launch of G9 on September 21, which Deutsche Bank analyst Edison Yu said in a research note sent to investors on Tuesday, is expected to be a catalyst for a temporary rally in the company's stock price.
As for Li Auto, its co-founder and president Shen Yanan sold 600,000 shares of the company's Hong Kong-traded stock on September 6, the second time this year that he has reduced his holdings. Shen's move has continued to be reported in the Chinese media over the past few days.