Chinese auto shares jump on better sentiment

HONG KONG: Chinese auto shares leapt in Hong Kong yesterday as investors became more positive on the sector, which had been hammered by weak sales earlier this year, after better-than-expected sales performances by some global auto makers in China.

Geely Automobile Holdings Ltd surged as much as 8% to HK$3.09 in early afternoon trade and Guangzhou Automobile Group Co Ltd jumped 5.3% to HK$8.98 after hitting a high of HK$9.17 in the morning. The blue-chip Hang Seng Index was up 1.7% in early afternoon.