Asia is producing more IPOs than the U.S., but not the same kind of winners

Asia-Pacific is leading the global IPO market, but its boom is not one story. Hong Kong, Mainland China and India are each powered by a different IPO engine — offshore liquidity, policy-guided capital and domestic retail demand. This CNBC Explains looks at why raising billions is only the first test, and why the harder question is whether that demand lasts after the opening bell.