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Xpeng's share price fell a substantial 5.1% to HK$56.30 ($7.22) as Alibaba unveiled the plans.
Hong Kong advanced, heading for their best week since early September, after China took measures to spur home sales in top-tier cities. Optimism about an…
Local stocks are set for the biggest weekly gain since late July China’s new measures to boost home sales in top-tier cities and hopes for an end to global rate hikes are fanning gains.
Is the time right to buy Hong Kong stocks?
Stocks were dealt a blow on Thursday after Moody’s lowered its outlook on major Chinese lenders and following a surprise contraction showed by imports data. Economic data releases later this week may offer little help to shore up sentiment.