BYD’s China-listed shares extend climb on electric vehicle sales

China-listed shares of electric carmaker BYD climb 2.76 per cent to 42.84 yuan, the highest since August 1, boosted by its increase in new energy car sales in July

Stock set for fifth day of gains in a row.

The automobile manufacturer, backed by Warren Buffett, sold 18,352 new energy vehicles in July, far ahead of other electric car companies.

China new energy vehicle sales for July jump 47.7 per cent year-on-year and 97.1 per cent for Jan-July, the China Association of Automobile Manufacturers (CAAM) said on Friday

As of the previous close, the stock had fallen 35.91 per cent so far this year

As of 0623 GMT, about 10.67 million shares of BYD Co Ltd have been traded, about 161.5 per cent of their 30-day moving average of 6.61 million shares a day

BYD’s Hong Kong-listed shares slump 2.17 per cent

China’s blue-chip CSI300 index is down 0.64 per cent

Source: Reuters