Nio HK

Nio is expected to enter the Hong Kong market in the fourth quarter and will work with a distributor to sell cars, according to a local media report.

China's central bank today cut its benchmark LPR rate for 5-year and above by 15 basis points to 4.45 percent.

At press time, Nio was down 5 percent in Hong Kong, ending a four-day winning streak. Xpeng was down 5.24 percent and Li Auto was down 2.39 percent.

Nio has risen for a fourth straight day in Hong Kong, bringing its cumulative gain since May 13 to about 30 percent.

This is the third consecutive day of gains for Nio in Hong Kong, with cumulative advances of about 17 percent since last Friday.

China is ramping up its economic stimulus, and the Covid situation in Shanghai is showing a significant improvement.

At press time, Nio was down 12.41 percent, Xpeng was down 9.4 percent, Li Auto was down 3.61 percent and BYD was down 3.02 percent.

At press time, Nio was down 3.4 percent, Xpeng was down 3.45 percent and Li Auto was down 4.96 percent.

At press time, Nio is up 10 percent, Xpeng is up 6.69 percent and Li Auto is up 6 percent.

Nio said on Saturday that it has suspended production as Covid has caused partners in its supply chain to shut down production.