CATL climbs as co halts mining operations at Yichun project; rivals rise

About this update from Tianqi Lithium Corp. Class A

** Hong Kong-listed shares of Contemporary Amperex Technology (CATL) SZSE:300750 rise 2.8% to HK$418.4, their highest since July 31, and on course for a second session of gains** Stock, which listed on May 20 in Hong Kong, posts biggest intraday pct rise since August 4** Shenzhen-listed stock SZSE:300750 climbs 1% to 266.15 yuan, its biggest intraday pct gain since August 4** The Chinese electric vehicle battery manufacturing giant said on Monday that it has suspended mining operations in the southern region of Yichun after a mining licence expired on August 9** The lithium sector is grappling with weaker-than-anticipated growth in demand for electric vehicles and an oversupplied market. After soaring to record highs in 2022, prices of lithium have tumbled almost 90%, prompting producers around the world to scale back investment plans** In China, shares of Ganfeng Lithium SZSE:002460, Chengxin Lithium SZSE:002240, Tianqi Lithium SZSE:002466, Sinomine Resource SZSE:002738, Shenzhen Dynanonic SZSE:300769 surge between 5.1% and 10%** In China, the blue-chip CSI 300 Index SZSE:399300 gains 0.1%** In Hong Kong, Hang Seng Index HSI:HSI slips 0.2%

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