Public Markets 3h Briefing
×Asian Currency Markets
India's rupee bloomberg.com rebounded sharply after hitting a record low as the central bank stepped in to defend the currency. The currency advanced the most in Asia on Thursday following aggressive intervention to stabilize the falling rupee.
Commodity Markets
Iron ore bloomberg.com rose as Beijing vowed measures to support the steel sector and set a widely anticipated economic growth target. The commodity gained on renewed pledges to tackle overcapacity in China's world-leading steel sector while gold prices investing.com climbed on Middle East conflict and a softer US dollar.
Regional Market Dynamics
Asian equities wsj.com rebounded as risk appetite improved following strong US economic data released overnight. The market recovery came as traders bought protection against fresh uncertainty from the Middle East conflict, with the fear index showing investors bracing for more selling in Indian shares.
Energy Sector Developments
China's government bloomberg.com told the country's largest oil refiners to suspend exports of diesel and gasoline as an escalating conflict in the Persian Gulf disrupts crude arrivals. The export suspension affects one of the world's largest energy markets while South Korea and Taiwan wsj.com appear particularly exposed to rising LNG prices according to MUFG Bank.
China Economic Policy
China investing.com set a 2026 GDP target of 4.5%-5% and outlined stimulus plans while vowing to tackle bloomberg.com the property crunch with city-specific policies. The modest growth targets reflect a desire to boost domestic demand while limiting fiscal support to specific sectors, with officials pledging to stabilize the real estate sector at a crucial political meeting.
Corporate Developments
Robinhood investing.com launched a new platinum credit card aimed at wealthy customers as the trading platform expands beyond its core retail brokerage business. Meanwhile, Chinese traditional businesses wsj.com are trying to buy into the AI boom, with ham producers and real-estate companies pouring millions into semiconductor companies.
Geopolitical Tensions
Abu Dhabi National Oil Co. bloomberg.com CEO Sultan Al Jaber will meet Japanese Prime Minister Sanae Takaichi in Tokyo as the war in the Middle East chokes energy flows to Asia. The meeting comes as Canadian Prime Minister Mark Carney bloomberg.com said "one can never categorically rule out" participation in military action resulting from the war in Iran.
Private Credit Sector
Goldman Sachs Asset Management bloomberg.com said the private credit sector remains resilient with few borrowers struggling to meet loan payments. The firm's co-head of private credit emphasized that fundamentals remain strong despite broader market uncertainty, with non-payment rates staying low across the sector.