CATL falls on Tesla battery deal with LG Energy to reduce China reliance

Hong Kong shares of Contemporary Amperex Technology Co Ltd (CATL) 3750.HK fall 7.4% to HK$428, set for biggest one-day pct drop since debut on May 20

Shenzhen-listed stock 300750.SZ fall 5.3% to 276.36 yuan, on track for biggest one-day pct decline since April 4

LG Energy Solution 373220.KS signed a $4.3 billion battery deal with Tesla TSLA.O, as the U.S. company looks to reduce reliance on Chinese imports due to tariffs

CATL is due to release its H1 results on Wednesday

In China, the blue-chip CSI 300 Index .CSI300 adds 0.03%, the Shanghai Composite Index .SSEC gains 0.2%

In Hong Kong, Hang Seng Tech Index .HSTECH falls 2.3%, benchmark Hang Seng Index .HSI eases 1.1%

YTD, Shenzhen stock up 4.3%