• CATL01.BK is trading 3.65% down at $6.60 today.
  • The move appears to be driven by concerns over CATL's $6 billion nickel mining, refining, and cell-manufacturing complex in Indonesia, which has become a "case study in sovereign risk" due to "abrupt, penalizing mandates" from the Indonesian government.
  • These regulatory reversals have "shaken cross-border investor confidence" and impacted the project's financial viability, with phase-one production pushed to late 2026 and full capacity delayed until 2031.