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BUZZ-BYD shares jump on new tech launch optimism, oil supply disruption concerns

Reuters
Yesterday
BUZZ-<a href="https://laohu8.com/S/BYDDY">BYD</a> shares jump on new tech launch optimism, oil supply disruption concerns

** Chinese EV maker BYD's Hong Kong shares 1211.HK jump 5.1% to HK$99.75, biggest daily gain since July 22

** Top gainer in Hang Seng Tech Index .HSTECH, which is down 2.6%

** Shenzhen-listed shares 002594.SZ surge 8.2% to 96.67 yuan, highest level since Jan 19

** BYD announces "groundbreaking" technology launch event for Thursday, March 5

** Macquarie says investors expect industry-leading power efficiency, charging speed, affordable ADAS features reveal

** "There is also the possibility that investors are looking at China EV names like BYD as a second derivative play on current tensions in Iran due to negative impact to oil supply/shipping" - Macquarie analyst

** Says potential oil import disruptions could push China to prioritise EV/battery sectors for energy transition

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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