BYD Co. shares reach HKD 450 on Hong Kong Stock Exchange, setting new all-time high with nearly 2% intraday gain.

BYD Co. shares reach HKD 450 on Hong Kong Stock Exchange, setting new all-time high with nearly 2% intraday gain.

BYD Co. (HKD: 1299) shares have reached a new all-time high of HKD 450 on the Hong Kong Stock Exchange, marking a nearly 2% intraday gain. This significant milestone comes amidst a backdrop of heightened investor interest in Chinese manufacturers, particularly those involved in the electric vehicle (EV) sector.

The surge in BYD's stock price is part of a broader trend where Hong Kong is reemerging as a key hub for global listings, especially for Chinese companies seeking to expand internationally. This trend is driven by the ongoing US-China trade war, which has led to increased financing needs for Chinese businesses looking to diversify their operations [1].

Recent equity offerings in Hong Kong, such as Contemporary Amperex Technology Co. (CATL) and Jiangsu Hengrui Pharmaceuticals Co., have shown strong investor appetite. CATL, a leading Chinese EV battery maker, raised HKD 35.7 billion ($4.6 billion) in its Hong Kong listing, reflecting robust demand for Chinese manufacturers [2]. The success of these listings indicates that Hong Kong remains a viable option for Chinese companies seeking to raise capital and expand globally.

BYD's performance is particularly notable given its competitive edge in the EV market. The company has been outpacing Tesla Inc. in sales and has seen its overseas sales account for nearly 40% of its total revenue last year, compared to 10% in 2022 [1]. This international expansion strategy has been well-received by investors, contributing to the company's stock price appreciation.

The recent trends in Hong Kong's financial markets also support this surge. The cost of margin financing has dropped, with the one-week Hong Kong Interbank Offered Rate (Hibor) falling to 0.42% from 4.1% at the beginning of May [1]. Additionally, the Hang Seng Composite Index has risen by 15% this year, further indicating a positive investment environment.

As global investors continue to diversify their portfolios away from the US due to unpredictable trade policies, Hong Kong is poised to benefit from this "Sell America" trend. The city's status as a global financial hub is being redefined, with a new focus on facilitating the international expansion of Chinese companies.

In conclusion, BYD Co.'s stock price reaching HKD 450 is a testament to the growing confidence in Chinese manufacturers and the resurgence of Hong Kong as a key listing destination. As more companies follow this trend, Hong Kong is set to play a pivotal role in facilitating global expansion, potentially redefining its economic trajectory.

References:
[1] https://www.bloomberg.com/opinion/articles/2025-05-19/hong-kong-finds-a-new-calling-in-us-china-trade-war
[2] https://asia.nikkei.com/Business/Markets/Equities/CATL-shares-jump-12.5-in-Hong-Kong-debut