The stock of Great Wall Motor (2333.HK) has experienced a notable 4.3% surge to HK$12.50, marking its highest point since June 19. If the current gains are maintained, the stock is poised to achieve its most significant one-day percentage gain since June 19. Similarly, the company’s Shanghai shares (601633.SS) also rose by 3.2% to 26.22 yuan, on track for their most significant one-day percentage increase since May 14.
The rise in Great Wall Motor’s stock follows the signing of the HUAWEI HiCar integrated development cooperation agreement with Huawei. This collaboration is anticipated to bolster the automaker’s research and development capabilities in the development of handcart interconnection and intelligent automotive products. The positive market reaction to this partnership reflects the confidence in the potential of the joint venture to drive innovation and growth in the automotive industry.
Meanwhile, in China, the blue-chip CSI 300 Index (CSI300) and the Shanghai Composite Index (SSEC) experienced a slight decline of 0.2%. However, in Hong Kong, the Hang Seng Commerce & Industry Index (HSNC) gained 0.5%, and the Hang Seng Index (HSI) added 0.3%. Year-to-date, Hong Kong stock is up by 22.5%, and Shanghai shares are up by 3.2%.
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In conclusion, the collaboration between Great Wall Motor and Huawei has sparked positive movement in the stock market, indicating a belief in the potential of intelligent automotive products development. As with any investment, individuals are encouraged to approach the market with caution and be mindful of the associated risks.