CATL Surges to Overtake Moutai as China’s Third Largest Stock

Contemporary Amperex Technology Co. Ltd. overtook liquor maker Kweichow Moutai Co. to become China’s third largest locally listed stock by market value as strong outlook for battery demand boosted investor sentiment.

The Shenzhen-listed battery giant gained as much as 6% Thursday to a record high, pushing the company’s market capitalization to 1.83 trillion yuan ($257 billion), surpassing Moutai’s 1.8 trillion yuan valuation, according to data compiled by Bloomberg.