HSI Sags 131 Pts; NIO Drops 4%+

$Hang Seng Index(800000.HK)$ opened 131 pts or 0.7% lower at 17,667; $Hang Seng China Enterprises Index(800100.HK)$ opened 61 pts or 1% lower at 6,320; and $Hang Seng TECH Index(800700.HK)$ opened 7 pts or 0.2% lower at 3,589.

The EU imposed additional tariffs on electric vehicles imported from China, and the China Association of Automobile Manufacturers (CAAM) stated that it was unacceptable due to negligence of facts. $GEELY AUTO(00175.HK)$ dropped 1.2%. $NIO-SW(09866.HK)$ CFO Feng Wei resigned due to personal and family reasons. NIO-SW, correspondingly, slid 4.6%. $BYD COMPANY(01211.HK)$ lifted 0.1% at $235.2.