Six price gainers, led by China’s BYD Company and Renesas Electronics, overcame 14 price losers to boost the Driverless Transportation Weekly Stock Index (D20) 0.4 percent to 261.21.
For the second consecutive week, The D20 outperformed the Dow, which lost 0.5 percent, and the S&P 500, which dipped 0.2 percent.
BYD was the D20’s leading price percentage gainer, adding 7 percent to its value and closing at $18.36. This is a slight turnaround from previous losses this fall, due to fierce competition in the global market over electric and hybrid vehicles, and the Chinese government’s indecision over whether to mandate all new vehicles in the country be electric.
NVIDIA rolled to a six consecutive week of gains by climbing 3.6 percent and ending the week at $216.14 a share. Renesas has also been on a roll with a six week positive streak by adding 2.7 percent and finishing at ¥1488 per share on the Tokyo Exchange.
Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.
Chinese Electric vehicle start-up, Nio, has raised $1 billion in its latest round of fund-raising. The round was led by Tencent Holdings Ltd., the investment arm of Chinese computing giant Tencent. Tencent and Baidu seem to be locked in a battle for supremacy of the driverless market leadership in China, with escalating investments and announcements.