HK Stock Market Move | Automobile stocks rose in early trading, and the industry's outlook is expected to improve. The impact of the United States' increase in tariffs on electric vehicles from China may be limited.

In the early trading session, most automobile stocks are rising. As of the time of writing, LI AUTO-W (02015) rose by 3.97% to 77.2 Hong Kong dollars; Guangzhou Automobile Group (02238) rose by 2.69% to 2.29 Hong Kong dollars; LEAPMOTOR (09863) rose by 2.45% to 23 Hong Kong dollars; BYD COMPANY (01211) rose by 1.67% to 244 Hong Kong dollars; XPENG-W (09868) rose by 1.14% to 35.5 Hong Kong dollars. On the news front, data from the China Passenger Car Association shows that from September 1st to 8th, retail sales of passenger vehicles reached 388,000 units, a year-on-year increase of 10% and a month-on-month increase of 5%. During the same period, retail sales of new energy vehicles reached 214,000 units, a year-on-year increase of 56% and a month-on-month increase of 11%. Additionally, as of midnight on September 14th, the information platform for replacing old cars with new ones received over 1 million applications for scrapping subsidies (with a daily average of over 13,000 applications). EB SECURITIES expects that as the replacement policy progresses steadily across the country, the industry's prosperity in the second half of 2024 is expected to improve. Recently, the US government decided to significantly raise import tariffs on Chinese products, with the tariff on electric cars increasing by 100%. According to the announcement from the Office of the US Trade Representative, some tariff adjustments will take effect on September 27th. Analysts in the industry believe that the current scale of China's exports of new energy vehicles to the US is very small, so the impact of this tariff increase on the actual export of Chinese cars is limited.