Public Markets 3 Days

Last updated: May 15, 2026, 2:30 AM ET

Energy & Commodities

Oil futures dropped 1.3% in early Asian trade after OPEC+ signaled potential output increases, while gold held near $2,340 as a weakening dollar offset risk-on sentiment. A surge in aluminum prices pushed China Hongqiao's Zhang Bo past the $48 billion mark, cementing his position among Asia's wealthiest industrialists. Copper extended its retreat as accelerating US inflation reduced rate-cut odds, while rice production is set to fall for the first time in a decade, tightening supplies of a global food staple. India's state-run refiners raised fuel prices for the first time in four years, yielding to crude costs pushed higher by the Iran war.

Geopolitics & Markets

Asian stocks started the day broadly lower ahead of the final day of the Trump-Xi summit, as emerging-market stocks and currencies tumbled amid rising oil prices and cautious investor sentiment. The US and China will start discussing AI safety, though neither side is willing to slow development. The Trump administration estimates the Iran war cost at $29 billion, with oil inventories falling at a record pace as the Strait of Hormuz remains shut. Kuwait accused Iran of trying to infiltrate its territory, while India condemned an attack on its vessel in the Gulf of Oman. UK bosses hit out at Westminster turmoil, warning that uncertainty over Starmer's future is putting investment decisions at risk.

AI & Robotics Boom

Robotics has become one of the hottest stock themes in Asia as the AI trade broadens beyond chips, with robot makers ruling the hottest trades. JPMorgan raised its Taiex target to 50,000 for pure-play AI exposure, while Shenzhen Adtek filed for a Hong Kong IPO amid a wave of Chinese AI listings. Amazon's AI success sent its stock racing toward the $3 trillion club, and AI bond issuance overwhelmed Wall Street, pushing Alphabet abroad. Europe's few AI plays soared as the US frenzy went global, even as the ECB's Lagarde called it a make-or-break moment for EU reform.

Fixed Income & Currencies

Japanese government bond yields marched higher to multi-year highs as elevated oil prices fueled global inflation concerns, while Treasuries led global yields higher on similar angst. Japanese investors sold the most US debt since 2022 as Fed policy bets flipped. The RBI raised bond-trading targets for primary dealers by 48% to boost liquidity, and India is mulling a steep cut in taxes on foreign bond investors. Emerging-market currencies mostly weakened as traders focused on the Trump-Xi summit, while the Singapore dollar firmed on strong home sales despite Middle East conflict. Romania kept rates at the highest in the EU as policymakers grappled with stagflation risks.

Corporate & Deal Activity

Stellantis and Dongfeng inked a $1.17 billion deal to produce Peugeot and Jeep EVs in China, as foreign automakers announced plans to export Chinese-made EVs. Hana Bank bought a $670 million stake in crypto-exchange operator Dunamu, marking the largest investment by a South Korean bank in digital assets. BlackRock arranged a $1.2 billion credit facility for Air Trunk's Japan data center expansion, part of a broader private equity push into AI infrastructure. Metlen listed as London's biggest new flotation of 2025, while private equity cooled on India amid lofty prices and economic jitters. First Brands faced a US push for trustee-led liquidation, and the SEC settled the Adani case as US authorities moved to end actions against Asia's richest man.