Etiqueta: Hong Kong

24 Jul 2024 - Warren Buffett’s Berkshire Hathaway has sold off more of its stake in the world’s biggest EV maker, BYD of China, taking the holding below the disclosure level on the Hong Kong Stock Exchange.

Warren Buffett’s Berkshire Hathaway Inc (NYSE:BRK) has reduced its stake in BYD Company (OTC:BYDDY), China’s largest electric vehicle maker, to below 5%, marking a continued shift in focus towards U.S. investments for the Omaha, Nebraska-based conglomerate. Berkshire recently decreased its holding in BYD to 4.94% from 5.06%, selling 1.4 million H shares at an average price of 246.96 Hong Kong dollars (approximately $31.64) per share, reported...

Despite Warren Buffet's Berkshire Hathaway selling BYD shares, the company sold nearly a million electric and hybrid vehicles in the second quarter, a record.

The days of calling BYD a “Buffett-backed” company may soon be coming to a close.

Warren Buffett’s Berkshire Hathaway ($BRK.A) ($BRK.B) has reduced its stake in the Chinese electric vehicle (EV) maker BYD Co. Limited ($HK:1211) to below 5%. Accor...

Warren Buffett continued to reduce his holdings of BYD stock, which now stands at 4.94% of all outstanding shares.

BYD Co. shares fell the most in more than three weeks after Berkshire Hathaway Inc. sold off another block of shares in the automaker, taking its stake to under 5% from more than 20% two years ago.

Hong Kong stocks watchful amid growing expectations of support after China’s central bank on Monday unexpectedly cut both the near-term policy rate and the loan prime rate.

Hong Kong stocks meandered as investors sought clarity on Beijing’s policy support after the Third Plenum expressed confidence in meeting development and growth targets by year-end, with several ministries due to release their own interpretations which would disclose more details. The Hang Seng Index was virtually unchanged at 17,622.02 at 10.50am local time. The Hang Seng Tech Index slid 1 per cent and the Shanghai Composite Index retreated 0.4...