Public Markets 3 Hours

Last updated: July 7, 2026, 2:32 AM ET

Public Markets

Asia-Pacific Equities & Currencies

The Kospi index concentration poses a risk to South Korean equities, with chipmakers dominating market capitalisation. Investors should buy SK Hynix ADRs and sell Seoul-listed shares, according to UBS, as the new American depositary receipts are expected to trade at a premium. Samsung's profit surge to its highest in two years was driven by the AI boom, though its stock dipped as expectations outstripped performance. Japan's 30-year government bonds rose after strong demand at auction, signaling investor appetite for higher yields despite fiscal concerns. The South Korean won’s debut 24-hour trading saw below-average volume, indicating a cautious market reception. China has increased investor access to Hong Kong bonds via its offshore connect scheme, aiming to boost the renminbi's international use. In a significant overseas expansion, the UAE's Adnoc has struck a $1bn deal for Shell's South African fuels business. Thailand's market regulator is probing a mysterious investor's near $1 billion stake in True Corp., raising questions about market transparency.

European Markets & Defense

A fledgling rebound in European defense stocks faces scrutiny at the NATO summit, with investors awaiting clarity on defense spending plans. The continent's strategic future without American backing is a significant concern, as Europe grapples with internal divisions and a potential shift in U.S. policy under President Trump. German startup Proxima Fusion has raised €411 million ($469 at a €2.4 billion valuation, with backing from Google and RWE to develop nuclear fusion technology. The Hungarian forint's rally, fueled by political shifts, is fading as euro accession plans face challenges under Prime Minister Peter Magyar. In the UK, retailers are warning of the potential scale of proposed warehouse taxes aimed at funding business rate cuts for pubs and music venues. London's Tube system is nearing a decade without new air-conditioned trains amidst continuing heatwaves. HSBC has pulled back from riskier private credit lending, indicating a more cautious approach to this asset class.

Global Deals & Listings

K Raheja Corp. Pvt., a major Indian real estate developer, has reportedly delayed its $700 million IPO after receiving feedback from investment bankers. SoftBank founder Masayoshi Son's bet on AI represents his most significant gamble, as the firm navigates the evolving artificial intelligence landscape. The UK's presumptive next prime minister faces a potentially costly decision regarding the future of indebted utility Thames Water, with creditors willing to bid even if it is nationalized. Volkswagen is seeking leaders capable of navigating its complex challenges and the uncertainty of the automotive market. Australia's competition watchdog is investigating the Big Four consulting firms for alleged data breaches. Japan’s Inpex Corp. has signed a 15-year deal with Abu Dhabi National Oil Co. for liquefied natural gas supply.

Market Trends & Outlook

The period of vertical ascent in AI-related stocks may be over, suggesting a potential shift in market dynamics. Chinese investors are purchasing more U.S. soybeans, signaling a ramp-up in key agricultural trade following recent bilateral summits. The debut of the Korean won’s 24-hour trading passed with below-average volume, indicating a muted market response to the new trading window . The FTSE 100 is poised to outperform as a tech selloff impacts broader market sentiment. The UK's corporate defined benefit pension schemes are experiencing growing surpluses, fueling debate over the allocation of excess funds due to rising gilt yields.