HK Stock Market Move | Automobile stocks rose across the board in early trading with the policy boost for autonomous driving. Progress has been made in negotiations on electric vehicles between China and Europe.

In early trading, automobile stocks rose across the board. As of the time of writing, XPENG-W (09868) rose by 4.58% to 52.5 Hong Kong dollars; NIO-SW (09866) rose by 4.45% to 37.55 Hong Kong dollars; Great Wall Motor (02333) rose by 2.82% to 13.84 Hong Kong dollars; LI AUTO-W (02015) rose by 2.21% to 90.15 Hong Kong dollars. On the news front, according to reports, sources revealed that members of Trump's transition team have informed advisors that they plan to make the establishment of a federal legal framework for autonomous vehicles a priority for the Department of Transportation. The new framework may relax current regulations on autonomous vehicles. In addition, the Department of Transportation and the National Development and Reform Commission recently released the "Transportation Logistics Cost Reduction and Quality Improvement Action Plan", jointly promoting the development of intelligent connected vehicles. It is worth noting that recently, according to "CCTV"'s "Yuyuantan Tian" news, a Chinese-European technical team conducted five rounds of negotiations in Beijing from November 2 to 7, engaging in in-depth discussions on the specific content of the EU's price commitment plan for anti-subsidy of electric vehicles in China, making some progress. After the negotiations, both Chinese and European sides mentioned in their press releases that progress had been made. This detail indicates that both sides have reached a consensus on making progress. After negotiations, China and Europe have reached a "technical consensus", especially in the areas of price commitment framework and agreement enforcement mechanisms.