Stocks to watch: Nio, Wee Hur

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Jun 10):

Nio : The electric vehicle giant denied allegations by the US that it is aiding the Chinese military, a statement on Tuesday noted. This comes after it was put on a Chinese military companies list by the US Department of Defense, along with other Chinese tech companies. Nio added that its inclusion is “not justified” since it is “not a Chinese military company or a... contributor to the Chinese defence industrial base”. Shares of Nio closed 1.1 per cent or US$0.06 higher at US$5.54 on Tuesday, after the announcement.

Wee Hur : The group on Tuesday announced its acquisition of a Grade-A commercial building in Tai Kok Tsui, Kowloon, in Hong Kong for an undisclosed sum. The property – One Bedford Place – has 26 storeys and will be repurposed into purpose-built student accommodation with around 500 beds. It is Wee Hur’s second student accommodation investment in the city. Operations are expected to commence in H1 2028. The counter closed up 1.6 per cent or S$0.01 at S$0.64 on Tuesday, before the news.