Kandi Rises as Electric Car Outlook Boosts BYD: China Overnight
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Kandi Technologies Group Inc. climbed in U.S. trading while BYD Co. advanced on optimism China’s support to build more battery charging facilities will spur demand for electric vehicles.
Kandi, a maker of alternative-energy cars, rose 4.5 percent in New York yesterday, the most in a week. Shenzhen-based BYD, which is partly owned by Warren Buffett’s Berkshire Hathaway Inc., rallied the most in a month in over-the-counter trading. Social media operator Renren Inc. climbed to the highest in seven weeks. The Bloomberg China-US Equity Index added 0.2 percent to 117.54.