LI - NIO reaches record high on Hong Kong exchange

NIO (NYSE:NIO) shares closed on March 23 at a record high of HK$173 on the stock exchange of Hong Kong. Shares have been rising for six straight days, rising 5.36% on Wednesday and nearly 60% since March 16. The Chinese EV maker began trading in Hong Kong on March 10 under the stock code “9866”. At the start of the week NIO said that it has no plans to increase the prices of any of its electric vehicle models “in the near term” as it hopes to maintain price stability “for the benefit of customers”. Local peer XPeng Motors (XPEV) also rose 1.91% during the day, while Li Auto (LI) was down 1.02%. Stocks on the exchange were up on average, with the Hang Seng Index up 1.21% and the Hang Seng Tech Index up 2.05% at the close of trade.

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NIO reaches record high on Hong Kong exchange