Why Are Chinese EV Stocks NIO, LI, XPEV Up Today?

  • Chinese electric vehicle (EV) stocks are rising thanks to a recent meeting.
  • The meeting saw President Joe Biden and President Xi Jinping of China speak for three hours.
  • Results from the discussions are boosting morale among traders today.
Chinese EV Stocks. Image of U.S. flag and China flag on cargo containers

Source: Engineer studio / Shutterstock.com

Chinese electric vehicle (EV) stocks are on the move Tuesday as investors react to news of a meeting between President Joe Biden and President Xi Jinping of China.

Recently, the two leaders met up in Indonesia for a three-hour meeting. The news coming out of that meeting has investors hopeful that Chinese stocks won’t face delisting from U.S. exchanges.

According to Beijing’s Ministry of Foreign Affairs, the conversation was constructive. This has Beijing stating that the two countries will “take concrete actions to put China-U.S. relations back on the track of steady development.”

Considering the rocky relationship between the U.S. and China over the last few years, that meeting is doing much to alleviate the worries of investors. Prior to this meeting, there were genuine concerns that many Chinese stocks, including shares of EV companies, wouldn’t remain on U.S. markets.

Let’s check out how this news is affecting these stocks below!

Chinese EV Stocks Up on Tuesday

  • Nio (NYSE:NIO) stock starts us off today, climbing 6.5% as of Tuesday afternoon.
  • Li Auto (NASDAQ:LI) shares are next on our list, with the stock gaining 7.9% as of this writing.
  • XPeng (NYSE:XPEV) stock closes out our look at Chinese EV stocks today, with shares increasing 5.4% this afternoon.

Investors looking for all of the most recent stock market news today will want to keep reading!

InvestorPlace is home to all of the latest stock news traders need to know about on Tuesday! Among that is what has shares of Meta Materials (NASDAQ:MMAT), Twist Bioscience (NASDAQ:TWST) and Digital World Acquisition (NASDAQ:DWAC) stock moving today. You can read up on all of that news at the links below!

More Tuesday Stock Market News

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/11/why-are-chinese-ev-stocks-nio-li-xpev-up-today-nov-15/.

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