Movement Alert|NIO-SW Falls 3.5% at Open, US Tech Selloff Spreads as Domestic Auto Market Demand Remains Under Pressure

Market Focus
Jul 24

On July 24, NIO-SW fell 3.5% at open, trading at 36.4 HKD/share, with turnover of HKD 241,000.

Overnight, US tech giants suffered broad-based selling. Tesla plunged over 14% after reporting Q2 adjusted EPS of just $0.33, well below the expected $0.50, with operating profit down 57% YoY. The Nasdaq Composite fell 2.15%, and the selloff spread to Chinese ADRs, with NIO declining over 4% in US trading.

Meanwhile, the domestic auto market remains mired in inventory competition. June national passenger vehicle retail totaled 1.602 million units, down 23.2% YoY. Institutions forecast Q3 volumes will remain under pressure, with month-over-month YoY recovery potentially delayed to Q4. Within the Automobile Manufacturers sector, peers broadly declined: BYD Company down 1.47%, XPENG-W down 2.53%, LEAPMOTOR down 0.17%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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