Public Markets 3 Hours

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

Asia Markets & AI Summit Sentiment

Asian equities opened lower as the Trump-Xi summit entered its final day, with foreign investors continuing to exit South Korean stocks after a recent milestone. The cautious mood overshadowed a surge in robotics stocks across the region, fueled by the broadening artificial intelligence trade beyond semiconductors. In Hong Kong, Adtek Technology filed for an IPO, adding to the wave of Chinese AI-related listings targeting data center demand.

Global Bond Turbulence & Rate Cut Bets

A great global bond freakout intensified as oil prices jumped, pushing Japan’s 10-year yield to multi-year highs on inflation fears. Despite this, traders upped bets on a September Fed rate cut, helping U.S. Treasuries rally and pulling Japanese government bonds higher. In India, the RBI’s 48% increase in primary dealer bond-trading targets sparked a surge in activity, aiming to boost liquidity in the 10-year benchmark.

Energy Transition & Industrial Deals

Stellantis inked a €1bn deal with Dongfeng to produce Peugeot and Jeep EVs in China, the latest foreign automaker to leverage Chinese manufacturing for exports. Meanwhile, Abu Dhabi’s Mubadala backed a $13bn US gas plant as Middle East supply concerns grew, with Commonwealth LNG securing $9.75bn from investors including CPP Investments and BlackRock. The oil futures curve flattened, but traders cautioned it does not predict a sharp fall.

Regional Market Moves & Sector Themes

Emerging-market stocks tumbled the most in over a month as oil surged, while Singapore’s new home sales hit a six-month high, signaling resilience despite Middle East conflict. In Malaysia, GDP growth was revised upward on AI-driven activity and consumer spending. The steel mill profitability in China climbed to a near-nine-month peak, though analysts questioned the sustainability amid global trade tensions.

Corporate & Financial Developments

HSBC paused its $4bn private credit push, delaying plans to use its balance sheet for alternative lending. In India, Shapoorji Pallonji entered talks with Cerberus, Farallon, and Ares for a $1.5bn bond. McKinsey revamped partner pay toward equity, while BlackRock arranged a $1.2bn loan for Air Trunk’s Japan data center expansion, highlighting private equity’s rush into AI infrastructure.