Hong Kong stocks rose overall, with the Hang Seng Index up 5.8 percent and the Hang Seng Tech Index up 8.2 percent.

Shares of electric vehicle (EV) makers trading in Hong Kong surged in early trading, as the overall market saw a strong rally.

Nio was up 18.26 percent to HK$86.8 in Hong Kong at press time, hitting a new high since October 27.

Xpeng Motors rose 26.1 percent to HK$32.85, a new high since October 27. Li Auto rose 15.87 percent, a new high since October 19.

BYD rose 5.12 percent and Leapmotor gained 6.53 percent.

Hong Kong stocks rose overall, with the Hang Seng Index up 5.8 percent and the Hang Seng Tech Index up 8.2 percent.

China's three benchmark A-share indexes were all up more than 2 percent in early trading, with about 4,000 stocks gaining.

On the macroeconomic and policy front, there is no significant positive news yet.

In company news, Bloomberg reported in a November 2 story that the Covid disruption caused Nio to lose production of 7,000 electric vehicles and deliveries of about 5,000 units.

This means that without the Covid disruption, Nio would have been able to produce an additional 7,000 vehicles and would have delivered a record high of about 15,000 vehicles.

BYD announced yesterday that it sold 217,816 new energy vehicles (NEVs) in October, a new all-time high and the second consecutive month in which it exceeded 200,000 units.

China's wholesale sales of new energy passenger vehicles in October were about 680,000 units, according to estimates released yesterday by the China Passenger Car Association (CPCA). That's up 1 percent from September and up about 87 percent from a year ago.