Public Markets 8-Hour Briefing
×Energy & Commodities
Oil futures slipped 1.3% in early Asian trade as OPEC+ signaled potential output increases, while gold held steady near $2,340/oz despite a weakening dollar. A surge in aluminum prices catapulted China Hongqiao's Zhang Bo to a $48 billion fortune, making him one of Asia's wealthiest industrialists. Palm oil futures fell 4.3% at the open in Kuala Lumpur tracking crude's slump after President Trump said the Middle East war may end soon.
Fixed Income & Currencies
Japanese government bonds extended their rally mirroring overnight gains in U.S. Treasurys as traders priced in a September Fed rate cut. The Singapore dollar remained steady against the U.S. dollar, supported by oil's pullback. India's central bank stepped up market support as crude topped $100/barrel, raising inflation risks and pressuring government bonds.
Asian Markets
China's government bond yield curve hit four-year steep levels as inflation concerns triggered by the Iran war pressured longer-term debt. Tencent and Zhipu shares jumped on AI agent launches as enthusiasm for Open Claw ignited a stock rally in local technology firms. Australian stocks rebounded as oil's retreat eased Middle East conflict concerns, though investors remained cautious after Trump said the war won't end this week.
Trade & Exports
China's export growth accelerated 22% in the first two months before U.S. and Israeli strikes on Iran disrupted global trade, putting shipments on a record path. The ongoing Iran conflict could boost Panama Canal LNG traffic as Asian energy buyers seek alternative sources, canal administrator Vasquez said.
Corporate & Financial Markets
AMC Entertainment refinanced debt with Deutsche Bank after public market turbulence derailed a planned bond sale, though the deal includes incentives to bring investors back within a year. Blackstone-owned Air Trunk secured $1.2 billion for Japanese data center expansion, part of a broader push by private equity into AI infrastructure assets across Asia-Pacific. Asia-based private credit funds are emerging as hedges against turmoil gripping the $1.8 trillion U.S. industry as investors seek safer alternatives.
Banking & Finance
Kotak Mahindra Bank is open to acquisitions as billionaire Uday Kotak-backed lender seeks to deploy excess capital amid India's financial sector transformation. Carmignac Gestion supports activist Palliser's LG Chem campaign to improve corporate governance and boost shareholder value at South Korea's chemical giant. Margin funding in India dropped to November lows as the Iran conflict and oil spike roiled markets.
Mining & Resources
Venezuela's National Assembly gave preliminary approval to a new mining bill as the government pledges to move at "Trump speed" to revive the sector and attract foreign investment. Mongolia presses Rio Tinto to rewrite "unfair" terms of the $18 billion Oyu Tolgoi copper mine, the latest renegotiation as the global sector grapples with resource nationalism.
Technology & Innovation
Taiwan is considering its first overseas bond sale to finance investments as the self-ruled democracy intensifies efforts to resist Chinese pressure. Goldman Sachs pitches hedge funds on corporate loan shorts as AI advances drive demand for new ways to bet against software industry disruption.
Geopolitical Developments
The Senate Agriculture Committee chair called for farm rescue aid in the wake of gasoline, diesel and fertilizer price spikes driven by the U.S. military offensive against Iran. Trump's conflicting signals on ending the Iran war sent oil prices tumbling but experts say higher prices will likely persist until Strait of Hormuz traffic resumes. Two Supreme Court justices offered sharply different views on handling emergency requests in rare joint appearance.