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BYD shares fall as China competition weighs on earnings

BYD shares fell after the Chinese automaker released first-half results, as fierce domestic competition weighed on investor sentiment. The company still reported higher second-quarter profit and growth outside China, according to CNBC. The available feed does not provide the size of the share decline or the detailed earnings figures.

Why it matters

BYD’s results show overseas growth is not fully insulating electric-vehicle makers from China’s price pressure.

Sources

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