$NIO Inc (NIO.US)$ shares are trading higher by 10.58% to $19.55 Friday morning as Chinese stocks gain following slower-than-expected China inflation data. Chinese EV stocks may also be reacting to news EV maker Leapmotor has shelved its Hong Kong IPO.
What Happened?China's consumer prices increased at a slower-than-expected pace in August in the wake of heatwaves, while producer inflation eased to the lowest since February 2021, reported Reuters, citing official data. CPI rose 2.5% year on year, compared with a 2.7% growth in July.
According to data from Benzinga Pro, Nio has a 52-week high of $44.27 and a 52-week low of $11.67.