HONG KONG, Feb 23, 2026, 18:07 HKT — Market closed
- BYD closed up 4.9% at HK$100.10 in Hong Kong
- Gains came as Hong Kong stocks rallied on shifting U.S. tariff expectations
- Investors now watch tariff next steps and BYD’s March earnings date
BYD Co’s Hong Kong-listed shares rose about 4.9% on Monday to end at HK$100.10, after trading as high as HK$100.40. The company is due to report earnings on March 26. (Investing)
The jump tracked a broader rally in Hong Kong equities as markets tried to reprice the risk around U.S. tariffs and global trade flows. The Hang Seng ended up 2.53%, according to a Reuters market wrap. (Reuters)
Beijing, for its part, said it was still working through the implications. China’s commerce ministry said it was making a “full assessment” of the U.S. Supreme Court’s tariff decision, after U.S. President Donald Trump announced new tariffs of up to 15% on imports from all countries. (Reuters)
The court’s ruling struck down Trump’s earlier global tariffs and removed a key legal pathway for the measures, a Reuters report said on Feb. 20. (Reuters)
For BYD, trade policy matters because sentiment has leaned more heavily on overseas growth as China’s home market cools and competition tightens. Monday’s move, though, looked driven more by the broader tape than by fresh company news.
The automaker’s shares have been volatile this month after weak sales data and shifting subsidy rules fed fears of a tougher year for mass-market brands. “Investors were likely surprised by the large degree of the domestic decline,” Eugene Hsiao, head of China equity strategy at Macquarie Capital, said earlier this month after BYD reported a 30% drop in January sales. (Reuters)
Mainland BYD shares did not echo the Hong Kong bounce. The Shenzhen-listed stock was quoted around 90.27 yuan, down about 1% from the prior close. (Investing)
That split is showing up across China’s auto complex. China’s January auto sales fell at the fastest pace in nearly two years, the China Association of Automobile Manufacturers said earlier this month, after subsidies were pared back and demand softened. (Reuters)
The risk case is straightforward: if Washington’s tariff reset turns into another drawn-out escalation — or just stays stuck in legal and political churn — exporters face planning fog at the same time domestic demand looks patchy.
For Tuesday’s session, traders will watch whether the Hang Seng rally holds, and whether tariff headlines settle down or whip back the other way.
Beyond that, markets have a date on the calendar: a summit between Trump and Chinese President Xi Jinping is currently planned for March 31 to April 2, Reuters Breakingviews wrote — a window that could reset expectations for trade-sensitive stocks. (Reuters)
