Pony.ai Inc. is looking to raise as much as $195 million from its U.S. initial public offering as automotive-related companies lead a modest pickup in Chinese listings.

VinFast Auto Ltd. soared in its debut as a public company, vaulting its market capitalization beyond that of General Motors Co. as traders flipped shares of the electric vehicle maker.

Shale wildcatters pushed ahead on the biggest surge in U.S. oil drilling since 2012 as explorers take advantage of prices above $50 for more than two months.