Why did Li Auto stock surge on Tuesday? Good news on COVID
For Shanghai specifically, 96.3% of industrial businesses tracked by the government were back to operating, according to government reports released on the day. For the restarted operation, a production rate above 70% was reported by state authorities.
Shanghai, which has been a key focus for Zero-Covid policies in China, is seen as a test case for much of the rest of the country. As such, positive trends are taken to be suggestive of policy shifts in neighboring regions as well.
Author: Tech Daily Newsletter, Seeking Alpha