BUZZ-Great Wall Motor jumps on launch of Brazilian production line

Reuters
Aug 18
BUZZ-<a href="https://laohu8.com/S/GWLLF">Great Wall Motor</a> jumps on launch of Brazilian production line

** HK shares of Chinese automaker Great Wall Motor 2333.HK jump 13.3% to HK$17.87 - highest since June 2022

** Stock top pct gainer on Hang Seng Automobile Index .HSAMI, which is up 2.2%

** Shanghai-listed stock 601633.SS surges 8.5% to 25.44 yuan, highest since April 3

** Brazilian President Luiz Inacio Lula da Silva said foreign companies that want to do business in Brazil are welcome, speaking at factory opening for Great Wall Motor in Sao Paulo

** Great Wall's Brazilian unit has capacity to produce 50,000 vehicles per year and is expected to generate over 2,000 jobs when it begins exporting vehicles to Latin America, according to a statement

** In China, blue-chip CSI 300 Index .CSI300 up 0.8%, Shanghai Composite Index .SSEC adds 0.7%

** In Hong Kong, Hang Seng Tech Index .HSTECH rises 1.3%,

benchmark Hang Seng Index .HSI gains 0.2%

** HK stock up 29% YTD; Shanghai shares down 4.8%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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