Investors are shunning US equities, and Hong Kong Stock Exchange can now claim the biggest IPO of the year. Plus, some western countries are pressuring Israel to end its new Gaza offensive, but . . . Neri Zilber Only one foreign power matters, and that’s the United States, especially under this current US president.

Hong Kong-trade shares in CATL, the world’s largest maker of batteries for electric vehicles, have jumped after the company raised around $4.6 billion in the biggest initial public offering globally this year.

The IPO had raised 35.7 billion Hong Kong dollars ($4.6 billion) according to a company filing, reportedly making it the largest global listing in 2025.