China, HK shares end higher, supported by mining and battery stocks
SHANGHAI: China and Hong Kong stocks closed higher on Wednesday, led by mining and battery shares, as a rally in gold prices and the strong Hong Kong debut of CATL boosted sentiment.
China's blue-chip CSI 300 Index closed 0.5% up, while the Shanghai Composite Index gained 0.2%. Hong Kong benchmark Hang Seng was up 0.6%.
Shares of electric vehicle battery giant CATL rose 10.2% after jumping 16% in their trading debut on Tuesday. Battery concept stock Gotion High Tech traded onshore surged 10%.
Hong Kong's IPO market has seen a sharp revival in 2025, with total proceeds year-to-date reaching $9 billion, a 320% year-on-year increase, according to UBS.
UBS expects the premium of China's onshore A-shares over their Hong Kong-listed counterparts to narrow in the near term, citing easing US-China tariff tensions and potential renewed investor optimism around artificial intelligence, particularly if DeepSeek unveils an updated model.
Mining-related shares climbed after gold prices rose to their highest levels in a week. Zijin Mining climbed 5.9%.
Shares of CMOC Group, the world's top cobalt miner, rose 3% after it called on the Democratic Republic of Congo last week to lift a ban on exports of the battery metal, sources told Reuters.
Hang Seng Materials Index rose 3.7%.
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