CATL’s Energy-Storage Deal Gives Spark to Chinese Battery Stocks

Chinese battery stocks surged as Contemporary Amperex Technology Co.’s deal with an energy storage-system manufacturer stoked investor excitement about the sector.

CATL rallied 7.6% in Shenzhen to a fresh closing high on Thursday, after Beijing Hyperstrong Technology Co. said it had locked in an order of 200 Gigawatt hours of energy storage system batteries from the firm. CATL rose 3.2% in Hong Kong while Hyperstrong gained its 20% limit in Shanghai, also to a record.