Chinese EV stocks surge as Morgan Stanley sees room for near-term gains

) jumped Friday after Morgan Stanley analysts released notes covering the stocks, stating they see the share prices rising over the next 15 days.

The bank said the three stocks are "Research Tactical Ideas" and that it believes their share prices "will rise in absolute terms over the next 15 days." The firm also noted that on April 26, China's Ministry of Commerce announced it would offer Rmb7k and Rmb10k subsidies to consumers who trade in their old vehicles and buy a qualifying ICEV or NEV model, respectively, which the bank believes bodes well for overall sector demand.

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