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.

With total assets of $53.7 billion, FWD Group has launched its fourth IPO attempt in Hong Kong, tapping into surging investor interest following battery giant CATL’s landmark listing.

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The world’s biggest IPO this year excludes U.S. onshore investors. The decision reduces geopolitical risks that loom over Chinese battery maker Contemporary Amperex Technology's $4 billion Hong Kong debut.