Chinese auto stocks strain under tariff pressure

Mainland auto stocks came under pressure with United States President Donald Trump saying he is considering additional tariffs on automobiles, chips, and pharmaceuticals.

US-listed Zeekr, a Geely Automobile (0175) subsidiary, saw its stock price decline for two consecutive days while Geely’s shares dropped 7.6 percent this morning.

Great Wall Motor (2333) fell 7 percent, Guangzhou Automobile (2238) dropped 2.4 percent, Xpeng (9868) declined 5.8 percent, Zhejiang Leapmotor Technology (9863) decreased 2.4 percent, Li Auto (2015) dropped 4.5 percent, and NIO (9866) fell 1 percent.

China’s BYD (1211) on Monday began offering advanced autonomous driving features on most of its models. The stock price initially surged 4.5 percent to a new high before eventually narrowing to a 1 percent gain.