Daily Market Updates: BYD shares fall after China competition dents first-half earnings

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BYD shares fall after China competition dents first-half earnings

BYD said second-quarter profit rose and overseas sales grew, but first-half earnings were pressured by intensifying competition in China.

Reported · Written up by our desk · Asia

BYD shares fell after the company reported its latest results, with investors focusing on weaker first-half earnings driven by fierce competition in China, according to CNBC Markets.

The automaker still posted a higher second-quarter profit, and it also highlighted growth overseas, signaling gains outside the most competitive domestic market.

Despite those positives, the market reaction suggests the first-half earnings figure dominated the read-through, CNBC World reported.

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Sources

CNBC MarketsBYD shares slide as fierce China competition dents first-half earnings

CNBC WorldBYD shares slide as fierce China competition dents first-half earnings

Global Markets

BYD shares fall after China competition dents first-half earnings

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