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, where Chinese EV battery giant CATL began trading after notching the biggest public offering of the year. After raising $4.6 billion in the secondary offering, the world’s largest EV battery group saw its shares rise as much as 18.4% above the subscription price, before closing with an over 16% gain.
