Friday, May 20, 2022

XPeng becomes 8th most traded stock in HK, Stock up 8% on its first day

XPeng Motors received significant inflows on its first day of inclusion in a mechanism linking the Hong Kong and the Chinese mainland stock markets. Not only was the stock the 8th highest traded Stock. It also went up 8% on its first day on the exchange

Mainland investors traded HK$36.413 billion through the Hong Kong-Mainland Stock Connect today and saw a net buy of HK$2.740 billion in Hong Kong stocks, according to the Securities Times.

Of the amount, HK$19.965 billion was traded through the Hong Kong-Shanghai Stock Connect, with a net buy of HK$164 million. Investors traded HK$16.447 billion through the Hong Kong-Shenzhen Stock Connect, with a net buy of HK$2.576 billion. Securities Times shared the following chart:

(Source: Securities Times)

XPeng, which was included in the Hong Kong-Mainland Stock Connect starting today, saw HK$765 million of turnover by mainland Chinese investors through the mechanism, for a net buy of HK$762 million.

This makes XPeng the eighth most traded stock in the Hong Kong-Mainland Stock Connect and makes it the most net bought stock by mainland investors in the Hong Kong-Shenzhen Stock Connect today.

As of today’s close, Hong Kong’s Hang Seng Index rose 2.06 percent to 24,829.99, while XPeng gained 8 percent to HK$152.50.

Before the stock market opened today, the Shenzhen Stock Exchange announced that it had adjusted the Hong Kong-Mainland Stock Connect list to include XPeng Hong Kong shares with effect from today.

See also  Cathie Wood's ARK Invest buys Xpeng Stock
Leannehttps://wegoelectric.net
Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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