NIO Stock News: Nio Inc soars higher as economic data raises Chinese stocks

NYSE: NIO gained 8.37% during Friday’s trading session.
Chinese economic data shows production costs are on the decline.
China’s EV giant BYD makes plans for a new production site in Thailand.

Stocks Reporter FXStreet

NYSE: NIO closed out the week on a strong note as the Chinese EV maker managed to post a near 4.0% gain over the past five trading sessions. On Friday, shares of Nio jumped higher by 8.37% and closed the trading week at a price of $19.16. Stocks rallied for the third straight day and snapped the three-week losing streak following the Jackson Hole Symposium. All three major averages closed higher on Friday. Overall, the Dow Jones added 377 basis points, the S&P 500 gained 1.53%, and the NASDAQ rose by 2.11% during the session.

Stay up to speed with hot stocks' news!

What had Nio surging by more than 10% during intraday trading? Chinese economic data revealed consumer prices and producer costs both slowed during the month of August. The August CPI rose by 2.5%, which was slower than the 2.7% for July and well below the 2.8% that was widely forecasted by analysts. The results were the first sign that the Chinese economy could be recovering despite the ongoing COVID lockdowns. The data sent the Hang Seng index in Hong Kong higher during Asian trading as well. Nio in particular had mentioned that higher costs were eating into their margins in the previous quarter, so lower production costs will likely lead to higher profits.

NIO stock forecast

China’s EV leader BYD has made plans for its first production facility outside of China. The company announced it will build a location in Thailand with production to begin as early as 2024. The move is the latest in BYD’s global expansion that will see the company debut EVs in markets like Japan and Germany in the near future.

Like this article? Help us with some feedback by answering this survey:

Author

Stocks Reporter

FXStreet

AUD/USD holds firm near 0.7000 after Chinese inflation, trade data

AUD/USD stays firm near 0.7000 in Wednesday’s Asian session, picking up some bids after China's mixed inflation and upbeat trade data. CPI rose less than expected in September, while PPI inflation picked up. Meanwhile, the Chinese trade surplus unexpectedly widened in September. The pair remains underpinned by a broadly subdued US Dollar, despite the Middle East escalation, as focus remains on US CPI data.

USD/JPY consolidates near 158.50; looks to US CPI for fresh impetus

USD/JPY stays range-bound near 158.50 in the Asian session on Wednesday, with looming intervention risks supporting the Japanese Yen and capping upside amid a softer US Dollar. However, geopolitical uncertainties act as a tailwind for the safe-haven USD and the pair. Traders also seem hesitant ahead of the release of the latest US inflation figures.

Gold remains offered below $4,100

Gold adds to the weekly bearish tone and slips back below the $4,100 mark per troy ounce on Wednesday. Indeed, the precious metal continues to suffer the stronger US Dollar and rising US Treasury yields as bets for extra tightening by the Fed remain on the rise following US inflation figures.

XRP recovery faces headwinds despite Ripple and Meritz Securities' tokenization push in Korea

XRP trades above $1.36 as bulls gather momentum to face a critical supply range toward $1.40. Ripple and Meritz Securities partner to explore institutional custody and tokenization services for South Korea’s capital markets.

China's rare earth leverage has an expiration date: November 10. Here's what Beijing is deciding

China is approaching a major strategic deadline in its trade confrontation with the United States (US). On November 10, the suspension of additional rare earth export restrictions Beijing announced in October 2025 is set to expire.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?