Aug 29, 05:57 AM

Foxconn Industrial Shares Hit 50.46 Yuan, Market Cap Tops 1 Trillion; CATL Surges 11% on 20B Yuan Turnover, Wuxi Lead Rises 20%

Shares of Foxconn Industrial in China’s A-share market reached a record high of 50.46 yuan, pushing the company’s market capitalization above 1 trillion yuan for the first time in seven years. The stock subsequently hit its daily limit-up, with market capitalization rising to approximately 1.069 trillion yuan. Meanwhile, Contemporary Amperex Technology Co. Limited (CATL) shares surged by over 11%, marking their highest level since October 2024, with a turnover reaching 20 billion yuan. This rally was driven by optimistic expansion outlooks, including from Wuxi Lead, a key supplier to CATL and other battery manufacturers, whose shares jumped 20% after forecasting an intensive and consistent capacity expansion comparable to the previous upcycle. Additionally, investor sentiment toward Chinese electric vehicle maker BYD appears to be improving following a recent sharp decline in its stock price.

#Foxconn Industrial #China #CATL #Wuxi Lead #Chinese #BYD

Written with ChatGPT (GPT-4).

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