Public Markets 8-Hour Briefing
×Market Turmoil
Global bond markets tumbled in Asian trading as an oil price shock stoked stagflation fears. Emerging-market stocks dropped more than 10% from their recent peak, with most regional currencies sliding. Japanese equities are set to extend losses, and a fear gauge for the nation’s stocks surged to its highest since 2020. South Korean stocks fell as rising oil prices hurt the outlook, while Indonesia’s assets slumped toward new bearish milestones. Taiwan capped weekly oil-price increases to cushion its economy, and Vietnam plans to scrap fuel import curbs to secure supply.
Currency & Commodities
The US dollar strengthened against every major currency as the Middle East war deepened and oil topped $100 a barrel. Gold extended its drop, pressured by the stronger dollar and inflation concerns. Aluminum rose to a 2022 high on supply worries, while Chicago soy oil jumped 4% as crude’s rally boosted biofuel demand. The Singapore dollar weakened amid the risk-off sentiment.
Deals & IPOs
Koenigsegg, the maker of $4 million sports cars, is weighing an IPO to boost production though it sees no rush. Kalshi is expanding internationally for the first time, partnering with Brazil’s XP to list event contracts. Fosun International shares rebounded after controlling shareholders pledged to increase their holdings.
China & Energy Focus
China’s sovereign bonds slumped, joining a global debt selloff as surging oil fan inflation worries. Chinese consumer prices jumped at the fastest pace in over three years, driven by energy costs and holiday spending. China’s nuclear power push continues with an ambitious new reactor target despite past misses. Qatar’s LNG outage will erase most of a forecast 2026 supply surplus, Morgan Stanley says. Oil shipping through the Strait of Hormuz has ground to a halt, unleashing the most severe energy crisis since the 1970s.