HK Stock Market Move | Auto stocks continue to fall, with XPENG-W (09868) and LI AUTO-W (02015) both falling more than 4%.

Car stocks continued to decline. As of the time of writing, XPENG-W (09868) fell by 4.37% to 58 Hong Kong dollars; LI AUTO-W (02015) fell by 4.24% to 62.15 Hong Kong dollars; Great Wall Motor (02333) fell by 1.09% to 10.92 Hong Kong dollars. On the news front, total social retail sales in April increased by 0.2% year-on-year, with a 15.3% year-on-year decrease in automotive retail sales. Huatai believes that after the decline in subsidies for new energy vehicles, the demand for car consumption continues to weaken: the year-on-year decrease in retail sales of automotive products widened from 11.8% in March to 15.3%, possibly due to the decline in replacement subsidies and the temporary weakening of car purchase demand. Founder stated that China's cumulative auto exports in Q1 2026 reached 2.34 million units, a significant increase of 53% year-on-year, validating the resilience of exports, coupled with strong overseas demand amid high oil prices, suggesting that investors pay attention to long-term investment opportunities in the automotive export market.