News Snapshot:
(WSJ) Two Chinese new-economy companies operating in the automotive sector are planning initial public offerings in Hong Kong, testing a market that has largely struggled this year. Leapmotor, a Chinese electric-vehicle company, is aiming to raise $1.5 billion from its Hong Kong listing, according to people familiar with the matter. The Hangzhou, China-based company, which counts U.S. venture-capital firm Sequoia Capital as one of its backers, filed an updated prospectus with the stock exchange on Monday, after it had passed its listing hearing. That will make it just the latest Chinese electric-vehicle maker to sell shares. Li Auto Inc., NIO...
