Public Markets 3 Hours

Last updated: May 14, 2026, 2:30 AM ET

Global Equities & Geopolitics

Chinese equities slipped moderately as markets processed the high-stakes summit between President Xi Jinping and US counterpart Donald Trump, with investors booking profits following a recent technology-led surge. The focus on the US-China interaction also kept the Singapore dollar steady against the US currency as traders absorbed the diplomatic developments, which included the presence of Eric Trump joining the delegation in a non-official capacity. Meanwhile, foreign sentiment toward South Korean technology counters deepened their retreat from Seoul stocks, even as local inflows pushed the KOSPI to new highs amid the ongoing artificial intelligence boom.

Energy Markets & Supply Security

The specter of further inflation prompted warnings from the European Central Bank, where Governing Council member Martins Kazaks stated the ECB would hike borrowing costs should rising crude prices embed into inflation expectations, a concern amplified by ongoing disruptions in the Persian Gulf. India has formally petitioned the US for an extension to its Russian oil waiver, seeking relief as the nearly 11-week conflict continues to destabilize energy supplies across Asia. This supply tightness is further evidenced by data suggesting that Australian steel-making coal mines may be struggling to maintain output, potentially providing price support for the commodity, while Chinese refined fuel exports failed to rebound following Beijing’s signals of easing export bans.

Corporate Earnings & Sector Shifts

Honda posted its first annual loss since 1957, taking a multibillion-dollar charge associated with its strategic pullback from aggressive electric-vehicle expansion plans. In the energy sector, Japanese refiner Eneos Holdings agreed to buy Chevron's Asia-Pacific refining and retail assets for $2.17 billion, expanding its regional footprint, while the broader pursuit of oil frontiers continues with Total Energies leading a $10.5bn offshore development in Suriname. Separately, the frenzy surrounding space-related assets is clearly crossing the Atlantic, with one British fund quadrupling its investment in space exploration stocks, mirroring the retail enthusiasm seen in US markets.

Fixed Income & Regulatory Matters

The US Treasury is exploring options to manage its balance sheet, proposing to funnel some of the idle cash held at the Federal Reserve into money market investments as an alternative route to a slightly smaller overall Fed footprint. In contrast to rising yields elsewhere, Japan’s 30-year government bond auction on Thursday registered firmer demand than average as the prevailing higher yield levels attracted buyers. On the regulatory front, private equity backers are openly criticizing the "runaway" legal costs imposed by top law firms, seeking to enforce a structure where these expenses are shared between investors and buyout groups.