HONG KONG, Feb 23, 2026, 18:07 HKT — Market shut for the day
- BYD finished the session 4.9% higher at HK$100.10 in Hong Kong.
- Hong Kong stocks jumped, fueled by changing expectations around U.S. tariffs, helping drive gains.
- Investors are eyeing potential tariff developments, along with BYD’s March earnings date.
Shares of BYD Co in Hong Kong gained roughly 4.9% Monday, closing at HK$100.10. The stock briefly touched HK$100.40 during the session. BYD is set to release its earnings on March 26.
Shares surged alongside a wider rally across Hong Kong, with investors recalibrating their expectations on U.S. tariffs and international trade. The Hang Seng Index closed up 2.53%, Reuters reported in its market summary.
China’s commerce ministry is still gauging the fallout, saying it’s conducting a “full assessment” following the U.S. Supreme Court’s ruling on tariffs. The announcement comes after U.S. President Donald Trump imposed new import tariffs of up to 15% on goods from every country. Reuters
A Reuters report from Feb. 20 noted the court tossed out Trump’s former global tariffs, erasing a significant legal channel for those actions.
Trade policy looms large for BYD, with investors increasingly banking on foreign expansion as China’s domestic market loses steam and rivals crowd in. Still, Monday’s action seemed to track the wider market rather than any new headline out of the company.
Shares in the automaker have swung sharply this month, rattled by disappointing sales figures and changes to subsidy policy that spooked investors about the outlook for mass-market carmakers. “Investors were likely surprised by the large degree of the domestic decline,” said Eugene Hsiao, Macquarie Capital’s head of China equity strategy, after BYD posted a 30% slide in January sales. Reuters
BYD’s mainland shares failed to track the pop seen in Hong Kong. The stock, traded in Shenzhen, hovered near 90.27 yuan—off roughly 1% from the previous finish.
The divide is evident throughout China’s auto sector. Auto sales in January dropped at their quickest rate in almost two years, according to the China Association of Automobile Manufacturers earlier this month. Subsidy cuts and weakening demand took a toll.
The risk here? Simple enough. Should Washington’s tariff reset spiral into another prolonged escalation, or just get mired in political and legal back-and-forth, exporters are left guessing on strategy. Meanwhile, domestic demand isn’t offering much clarity either—it’s uneven at best.
Tuesday, eyes are on the Hang Seng to see if the rally sticks. Tariff headlines could either calm or swing the other direction.
There’s also something concrete ahead: Trump and Chinese President Xi Jinping are set to meet March 31 through April 2, according to Reuters Breakingviews. That stretch could prove pivotal for stocks that react to trade developments.
