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

Chinese battery giant Contemporary Amperex Technology’s shares soared Tuesday in their Hong Kong debut, marking the world’s largest equity offering so far this year. A successful listing of CATL, as the company is known,

Zeng Yuqun, Chairman of Chinese battery giant CATL, right, bangs a gong to start CATL's debut trading on the Hong Kong stock exchange on May 20. Shares in Chinese battery giant CATL soared almost 17 percent on its first day of trading Tuesday.