CATL, the world’s largest maker of electric-vehicle batteries, is expanding production, while Honda is cutting spending plans. Oddly, both stocks are up.

Hong Kong-trade shares in CATL, the world’s largest maker of batteries for electric vehicles, have jumped after the company raised around $4.6 billion in the biggest initial public offering globally this year.

By Scott Murdoch and Julie Zhu HONG KONG (Reuters) -Shares of Chinese electric vehicle battery giant CATL traded as much as 18.4% above the subscription price on Tuesday after the company raised $4.6 billion in its Hong Kong listing,