Stocks rose in Europe and Asia while U.S. markets treaded water—or, rather, hovered just below the surface—as the ‘sell America’ trade kept going in a second day, although with less intensity. The big news was in Hong Kong,

CATL's IPO is reported to be the largest listing made in 2025 globally. On the Shenzhen stock exchange, CATL shares initially opened lower but reversed course to rise 1.5% to 264

CATL recorded a profit of 55.3 yuan ($7.6 billion) in 2024, up 16.8% from 2023. Its listing surpassed JX Advanced Metals’ $2.9 billion IPO in Japan in March, which was previously the largest this year, according to Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs.