CATL, the world’s largest maker of electric-vehicle batteries, is expanding production, while Honda is cutting spending plans. Oddly, both stocks are up.

The reception suggests investors still have an appetite for Chinese companies despite trade tensions with the United States.

Shares in Chinese battery giant Contemporary Amperex Technology soared almost 17% on their first trading day in Hong Kong as investors brushed off geopolitical concerns to pile onto the largest listing so far in 2025.