On July 10, BYD Company rose 3.09% in regular trading, trading at 84.95 HKD/share, with turnover of 4.9 billion HKD. The auto sector staged a broad technical rebound following the previous session's collective selloff triggered by weak domestic retail data.
On the news front, the automobile sector rallied across the board, with Leapmotor up 4.92%, XPeng up 3.44%, and Great Wall Motor up 3.3%. The rebound comes after July 9 saw the sector decline sharply on data showing June national passenger vehicle retail sales fell 23.2% year-over-year. Multiple positive catalysts supported sentiment, including CLSA maintaining BYD as a top pick with a \"high conviction outperform\" rating, Daiwa raising BYD's target price from 120 HKD to 135 HKD, and the company's June overseas sales surpassing 170,000 units — a record high with nearly 95% year-over-year growth. Additionally, BYD's semiconductor BMS AFE chip shipments surpassed 100 million units, and the Denza Z supercar completed its global launch at the Goodwood Festival of Speed.
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