HK Stock Market Move | Car stocks rise in early trading, with September car market heating up. Report says EU postpones vote on electric car tariffs on China.

In the early trading session, automobile stocks rose. As of press time, XPENG-W(09868) rose by 6.74% to 38 Hong Kong dollars; GEELY AUTO(00175) rose by 3% to 9.6 Hong Kong dollars; NIO-SW(09866) rose by 2.8% to 42.2 Hong Kong dollars; LEAPMOTOR(09863) rose by 2.11% to 24.25 Hong Kong dollars. In terms of news, the latest data from the China Association of Automobile Manufacturers showed that during September 1-15, the retail sales of passenger vehicles reached 828,000 units, an 18% year-on-year increase and a 12% increase from the previous month; the retail sales of new energy passenger vehicles reached 445,000 units, a 63% year-on-year increase and a 12% increase from the previous month. During the second week of September, the daily retail sales of passenger vehicles reached 63,000 units, a 26% year-on-year increase from September of last year and an 18% increase from the previous month. The effects of the old-for-new policy are becoming apparent. According to data from the Ministry of Commerce, the Ministry's Automobile Old-for-New Information Service Platform has received over 1.04 million subsidy applications, driving sales of new cars to approximately 130 billion yuan. In addition, according to reports from Global Times, the EU is reportedly planning to postpone the vote on imposing tariffs on imported electric vehicles from China. Three EU diplomats stated that the EU's planned vote at a meeting on September 25 has been canceled.