Tesla rose 6%, Hong Kong's electric vehicle stocks outperformed the market, and Xiaopeng Motors surged over 6%.

In September, private sector employment in the United States increased by only 89,000, hitting a 20-month low and falling short of expectations. Coupled with a sharp drop in oil prices, market expectations for further interest rate hikes by the Federal Reserve have cooled. The three major US stock indexes rebounded 0.4% to 1.4% last night, led by technology stocks, reaching their highest levels in over four months. The Nasdaq outperformed. The Hang Seng Tech Index in Hong Kong continued to decline yesterday, falling by 1.7% and hitting a four-month low of 3,732 points. However, it opened higher this morning, up 32 points or nearly 0.9% at 3,784 points. The high and low points were 3,806 and 3,766 respectively, and it is currently trading at 3,790 points, up 1%. Tesla (TSLA.US) saw a sharp increase of about 6% in its stock price last night, closing at $261.16. Electric vehicle stocks in Hong Kong outperformed the broader market and traditional car stocks this morning, especially XPeng (09868.HK), which reversed its two-day decline. Its stock price crossed both the 20-day and 50-day moving averages (HKD 69.15 and HKD 69.85), reaching a high of HKD 71.7 and currently trading at HKD 70.95, up 6.2%. It is the second strongest constituent stock in the Hang Seng Tech Index, second only to Meituan Dianping (09698.HK), which increased by 6.4% to HKD 10.4. NIO (09866.HK) and Li Auto (02015.HK) also reversed their two-day decline. The former's stock price crossed the 10-day moving average (HKD 67.2), reaching a high of HKD 69.45 and currently trading at HKD 68.85, up 3.8%. The latter reached a high of HKD 137.7 and is currently trading at HKD 136.8, up 2.6%. Blue-chip stock BYD (01211.HK) fell back to the bull-bear line, with its stock price reversing its two-day decline. It reached a high of HKD 234.8 and is currently trading at HKD 234, up 1.3%. Lixiang (09863.HK), a non-constituent stock of the Hang Seng Tech Index, reversed its three-day decline, with its stock price reaching a high of HKD 35.75 and currently trading at HKD 35.7, up 4%. (sz/t)