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Auto Stocks Broadly Surge 3-7%, BYD COMPANY Strongest Performer


China’s May car sales volume yearly only dipped 0.1% yearly. Automobile stocks broadly fared well today. Rising five days in a row, DONGFENG GROUP (00489.HK)  once breached above $10.08 (52-week high since July 2016) and peaked at $10.14, hitting over 17-month high. It last traded at $9.85, up 3.8%, on volume of to 35.55 million shares.

 

Being one of the recommendations of JPMorgan, BYD COMPANY (01211.HK)  breached above 250-day MA ($46.95). After midday, the stock saw a widened growth to 6.9% to $48.65, hitting 7-month high, on spiking volume to 10.05 million shares. Being treated as one of the top picks by Deutsche Bank with target price at $11, BAIC MOTOR (01958.HK)  breached above 100-day MA ($8.02) and last traded at $8.28, up 6.2%, on spiking volume of 27.64 million shares.

 

Being a preferred stock of Deutsche Bank with target price of $16.2 and one of the recommendations of JPMorgan, GAC GROUP (02238.HK)  corrected a little and once breached above yesterday’s record high $14.3; GAC today once rose to $14.38 and last traded at $14.12, up 3.1%.

 

BRILLIANCE CHI (01114.HK)  also turned around from the declining trend yesterday and peaked at $14.84. The auto stock last traded at $14.68, rebounding 1.1%.

After hitting record high at $15.78 but declining 4% yesterday, blue-chip GEELY AUTO (00175.HK)  once rebounded to $15.5 today and last traded at $15.3, up 3.1%.

Surging 21% with spiking volume yesterday, GREATWALL MOTOR (02333.HK)  once rose to $11.44, hitting nearly 2-year high today but met resistance later as it once dropped to $10.34. It last traded at $11, down 0.2%.

 

Also, among automobile after-sales services stocks, HARMONY AUTO (03836.HK)  and ZHENGTONGAUTO (01728.HK)  were the best performers. HARMONY AUTO once rose to $3.61 and last traded at $3.58, surging 8.8%, on rising volume of 16.26 million shares.

 

ZHENGTONGAUTO peaked at $5.39, hitting about 2-year high and last traded at $5.27, up 8.4%, on spiking volume of 21.94 million shares. ZHONGSHENG HLDG (00881.HK)  hit the peak at $13.8, marking nearly 3.5-year high and last traded at $13.76, up 5%.

CAAC data showed that in China’s May car sales volume yearly only dipped 0.1% yearly to 2.096 million. The decline was much lower than 2.2% in April.


(Quote is delayed for at least 15 mins.Short Selling Data as at 2017-06-13 12:25.)

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