Market Chatter: CATL Calls for Removal From US Restrictions; Shares Up 4%
Contemporary Amperex Technology (SHE:300750, HKG:3750) is asking the US to remove its name from the list of companies blacklisted due to alleged links with the Chinese military, Bloomberg News reported Thursday, citing insiders.The battery maker was included in the list with Tencent Holdings (HKG:0700).CATL's co-chairman, Pan Jian, argued on the company's case during his two trips in the U.S. since a year earlier, including one made with officials of the Defense Department, the report said.The sources said that Pan was concerned that the chances to be removed from the curbs were small due to the tensions between the U.S. and China, the report said.CATL is yet to respond to' request for comment on the matter.The battery maker's Hong Kong shares jumped 4% and Shenzhen bourse rose 2% during the morning trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
