Huawei Smart-Car Deal Sparks Gains In China Automaker, Suppliers
- Changan Auto jumps by 10% daily limit on Huawei smart-car pact
- One of few ‘exciting’ themes for onshore investors: Chanson
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Huawei Technologies Co.’s latest automobile-related foray once again drove big share-price moves, showing the technology giant continues to draw investors despite the uncertainty overhanging China’s stock market.
Chongqing Changan Automobile Co. surged by its daily limit of 10% in Shenzhen on Monday after it forged a smart-car pact with Huawei. Suppliers to both Changan Auto and unlisted Huawei also climbed, even as the latest concerns on China’s economy dragged the benchmark CSI 300 Index down by as much as 1.3%.