HSI Fades 34 Pts; LI AUTO Leaps 6%+

$Hang Seng Index (800000.HK)$ opened 34 pts or 0.2% lower at 17,059. $Hang Seng China Enterprises Index (800100.HK)$ opened 9 pts or 0.2% lower at 5,940. $Hang Seng TECH Index (800700.HK)$ opened 6 pts or 0.2% higher at 3,650.

EV maker $LI AUTO-W (02015.HK)$ cut prices on some of its vehicles and adjusted its 2024 model lineup. The stock opened 6.4% higher at $156.4, as Morgan Stanley believed that the company is undergoing a timely and much-needed strategic adjustment, and the market will wait to see if it can turn the situation around after adjusting its selling prices.

Fellows $NIO-SW (09866.HK)$ and $XPENG-W (09868.HK)$ dropped 1.8% and 2.3%. $BYD COMPANY (01211.HK)$ gained 1.1% at $212.