Great Wall Rises to Three-Month High After Boosting Investment
Great Wall Motor Co., China’s biggest maker of pickup trucks and sport-utility vehicles, rose to the highest level in more than three months in Hong Kong trading after saying it increased investment in affiliates.
Great Wall rose as much as 7.5 percent before trading up 6.7 percent at HK$12.80 as of 1:35 p.m., the highest intraday level since July 18. The benchmark Hang Seng Index fell 0.4 percent. Great Wall’s Shanghai-listed shares fell 0.2 percent to 12.35 yuan.
The automaker invested 412 million yuan ($65 million) in Baoding Great Wall Internal Combustion Engine Manufacturing Co. and 1.06 billion yuan in Tianjin Boxin Autoparts Co., the Baoding, Hebei-based company said in a Nov. 4 statement to the Shanghai stock exchange.
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