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Shares of NIO Inc. reversed course to trade sharply lower Wednesday, after a much-wider-than-expected loss and revenue that fell well short of forecasts overshadowed investor optimism over the outlook for shares of other China-based companies.
Meanwhile, shares of rival electric vehicle makers XPeng Inc. XPEV and Li Auto Inc. shares LI gained ground, as China’s stock markets surged following strong economic data and after Hong Kong lifted its mask mandate. China’s Shanghai Composite Index CN:SHCOMP climbed 1.0% overnight and…
