Mid-day overview: All three major indexes rose by over 1%, with network technology stocks, autos, and mainland China banking stocks up. Bilibili rose over 10%.
Network technology stocks rose, SenseTime rose more than 7%, Xiaomi Group rose more than 3%, Netease, Tencent, Alibaba, and jd.com all rose more than 1%.
Quick look at the market | All three major Hong Kong stock indices rose; chip stocks and auto stocks rose, Brilliance Chi rose more than 22%.
Network technology stocks are mixed, with Kuaishou and NetEase up nearly 2%, Meituan and Tencent up over 1%, Ping An Good Doctor down more than 3%, and Ali Health and JD Health down more than 2%.
Cui Dongshu: Domestic retail penetration rate of new energy vehicles in May was 47%, up 14 percentage points year-on-year.
In May, wholesale sales of new energy passenger vehicles reached 900,000 units, with a year-on-year growth rebounding to 32%, showing good performance.
Cui Dongshu: The high-end features of the consumer structure of the automobile market will be further strengthened in 2024.
The sales structure of passenger vehicles in the national market continues to rise, with a significant increase in the proportion of high-end vehicle sales and a decrease in the proportion of mid-to-low-priced vehicle sales, driven by consumption upgrade.
In early June, the retail sales of electric vehicles in the market were 180,000 units, a year-on-year increase of 27%, according to China Passenger Car Association.
From June 1st to 10th, the retail sales of electric passenger vehicles reached 180,000, a 27% increase from the same period last year, and a 11% decrease from the same period last month. The cumulative retail sales this year were 3.436 million, a 34% increase from the same period last year.
Mid-day market snapshot: Hong Kong stocks weakened, the three major indexes fell more than 1%; Apple suppliers bucked the trend and rose, q tech soared more than 8%.
Contract research organizations are generally on the rise, with Wuxi Bio up nearly 6% and WuXi AppTec up nearly 5%. Auto stocks are leading the decline, with Everg Vehicle falling more than 20% and NIO Inc. falling more than 7%.