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U.S. stock market volatility | Electric vehicle stocks slump, Rivian Automotive (RIVN.US) falls nearly 6%.
On Wednesday, electric vehicle stocks fell along with Tesla.
Express News | Shares of EV Stocks Are Trading Lower in Sympathy With Tesla, Which Fell After Reporting Mixed Q2 Earnings
The effect of 'price for quantity' weakened slightly in July for the Sub-Association of China Association of Automobile Manufacturers, and the auto market has entered a period of stability.
The China Federation of Logistics and Purchasing indicated that in July, the effect of trading price for sales volume has slightly diminished, and the automobile market has entered a period of stability.
HKEX News | Shares of Li Auto Inc - W (02015) fell over 4%, market doubts about future product strength. Institutions said the company still has high confidence in growth.
Li Auto Inc - W (02015) fell more than 4%, as of press time, it fell 4.06% to HKD 74.5, with a turnover of HKD 0.685 billion.
Under pressure from the auto sector, Great Wall Motor (02333) fell 6.59%. Tesla's Q2 financial report fell short of expectations.
Jingu Finance News | The bicycle sector is under pressure. As of press time, Great Wall Motor (02333) fell 6.59%, Xpeng (09868) fell 5.3%, Leap Motor (09863) fell 4.94%, Nio Inc (09866) fell 4.29%, and Li Auto Inc (02015) fell 3.28%. In terms of news, Tesla (tesla) announced an adjusted EPS of $0.52 for the second quarter, below the market expectation of $0.6. Net income was $1.478 billion, lower than market expectation of $1.806 billion. During the period, revenue was $25.5 billion, a year-on-year increase of 2%.
HK stocks anomaly | xpeng-W (09868) fell more than 5%, leading the decline in autos. Tesla's Q2 profit falls short of expectations, and the release of autonomous driving is delayed again.
Auto stocks are collectively down. As of press time, Xpeng Auto-W (09868) fell 5.3% to HK$32.15; Great Wall Motor (02333) fell 4.56% to HK$11.3; Li Auto Inc-W (02015) fell 2.9% to HK$75.4.
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