Hang Seng in Hong Kong is up a whopping 2.4 per cent after trading picked up again after the long weekend. The world’s third largest smartphone manufacturer, Xiaomi, rises a strong 12 percent after the news that the company will release its first electric car. On Thursday they started taking orders.
Their SU7 will compete with, among others, the Tesla Model S. The Tesla share has also struggled so far in 2024, and several analysts have reported the share out of the so-called “Magnificent Seven” club.
The failed property company Country Garden Holdings announced on Tuesday that trading in the company’s shares on the Hong Kong Stock Exchange will be suspended from today. On Thursday, the company stated that the results for 2023 will be delayed, writes CNBC. So far this year, the stock has fallen close to 40 percent.
In Japan, the broad falls The Topix index 0.3 percent, while Nikkei remains unchanged. There is flat development also on Shanghai Composite in China.
Kospi in South Korea, 0.2 per cent is strengthened. In India falls Sensex 0.2 percent, The S&P/ASX 200 Index in Australia is down 0.3 percent, and Straits Times in Singapore, progress is 0.4 per cent.
Tags: Electric car challenger rises sharply Hong Kong stock exchange
