China's fast-falling stock market Wednesday did not stop institutional investors from buying new energy vehicle stocks.
Data shows that BYD Company (002594.SZ), Xinzhi Motor (002664.SZ) and Yantai Zhenghai Magnetic Material (300224.SZ) all posted net buy status Wednesday, when the Chinese stock market was still in a four-day losing streak, according to a report by cnstock.com.
The buy-in by institutions amid current market showed investors' strong belief in new energy vehicle industry's future performance, experts say.
Specifically, BYD Company was bought by two institutions by 240 million yuan, accounting for about 21.68 percent of its daily transaction, and sold by one institution by 24.45 million, accounting for 2.21 percent of the company share transaction that day.
Xinzhi Motor was bought by one institution by 17.14 million yuan, accounting for 8.71 percent of its daily transaction. Yantai Zhenghai Magnetic Material was bought by four institutions by 83.54 million yuan, accounting for 29.62 percent of total transaction during the day, sold by two institutions by 24.09 million yuan, accounting for 8.54 percent.
Latest comments