XPeng & CATL Drive Hong Kong Market Higher

Key News

Asian equities were mixed overnight on higher volumes following the US Fed’s rate hike, due to optimism that the Fed’s tightening cycle is drawing to a close.

Hong Kong outperformed as Xpeng, the most heavily traded stock by value, gained +33.88%, outperforming its US listing, which gained +26.69% yesterday on Volkswagen’s $700 million investment in the EV automaker. The news lifted the EV ecosystem though real estate was the top Hong Kong sector, +4.11% on the impending rollout of supportive policies.