HK Stock Market Move | NEXTEER (01316) rise by more than 4%, Trump may seek to relax restrictions on autonomous cars, Tesla's supply chain is expected to benefit.

NEXTEER (01316) rose more than 4%, up 4.25% to HK$3.19 as of press time, with a turnover of HK$10.6751 million. On the news front, it was reported that sources revealed that the team of US President-elect Trump plans to prioritize "building a federal framework for fully autonomous vehicles" at the US Department of Transportation. If new regulations can make fully autonomous vehicles possible, Tesla CEO and significant donor to Trump, Elon Musk, will directly benefit. Tesla rose nearly 6% overnight. Guotai Junan previously stated that NEXTEER is a global leader in steering systems and a scarce asset in the automatic driving and Tesla industry chain. Guotai Junan pointed out that NEXTEER is expected to further expand its business with Shanxi Guoxin Energy Corporation's main OEM by 2025, both in existing business and the latest steer-by-wire (SbW) system business, as cooperation with other major OEMs in the Asia-Pacific region progresses smoothly. As advanced self-driving technology steadily develops, 2025 will be a major year for advanced autonomous driving in the automotive industry. The company believes that SbW is likely to be first adopted by leading OEMs globally. The company's SbW system with industry-leading technology is expected to bring synergies to the company in the coming years.