Public Markets 8 Hours

Last updated: May 12, 2026, 2:30 AM ET

Asian Equities & Corporate Finance

Securities firms in Taiwan are seeking $1bn in syndicated loans to capitalize on a booming local stock market, while in Japan, refiner JX Advanced Metals slid after announcing plans to issue ¥250 billion ($1.6 in convertible bonds to fund share buybacks. Elsewhere in Asia, shares of Jollibee Foods plunged 39% for the first quarter due to surging costs, forcing the Philippine fast-food giant to review its spending targets. Meanwhile, Malaysian convenience operator KK Mart is set to begin meetings with cornerstone investors next month ahead of an expected initial public offering.

European Industrial & Energy Sectors

Thyssenkrupp AG maintained its fiscal 2026 adjusted earnings and cash-flow guidance but adopted a more cautious tone on sales, trimming its growth forecast range to between negative 3% and zero amid global uncertainty, while the company’s trading division returned to profit in the first quarter, buoyed by better performance in its core gas business following the stabilization of Middle East supply routes. In the UK, Lotus is offering a lifeline to its troubled factory, with the CEO slashing sales targets as part of a revival strategy controlled by China’s Geely.

Geopolitics, Currency, & Commodities

Global markets reacted to escalating Middle East tensions, with oil futures edging higher as traders assessed the prospect of a prolonged closure of the Strait of Hormuz, which also kept copper prices level near record highs after President Trump dismissed peace proposals from Iran. The political deadlock is having currency consequences, as the Singapore dollar weakened against the greenback, while Japanese officials confirmed they are coordinating forex policy with the U.S. Treasury Secretary Scott Bessent, though Japan’s reserves data likely failed to capture intervention due to the timing of action. In agricultural markets, wheat prices extended recent gains due to worsening dryness across key U.S. growing regions, while traders are also betting on biofuels to profit from oil price shocks, expecting corn and soyabeans to soar as demand rises.

UK Politics & Financial Services

Political instability in the UK is weighing on sentiment, with Prime Minister Keir Starmer facing dozens of calls from his own Labour Party to resign following recent setbacks, which contributed to the pound sinking in early trade. This uncertainty comes as the City of London faces pressure to adopt a more ambitious national growth strategy beyond mere hyperactive regulatory reform. In banking, HSBC convened a meeting of major UK lenders to discuss climate risk disclosures, following warnings from central banks that weather events could trigger widespread borrower defaults.

Tech & Regulatory Scrutiny

In the technology sphere, Chinese AI firms are advancing past reliance on U.S. suppliers, with DeepSeek turning to Huawei for chip support as Beijing seeks technological self-sufficiency ahead of the U.S.-China summit, while the FCC chair is reportedly moving to target Chinese tech goods over security concerns despite warming trade relations. Concurrently, Sam Altman is facing scrutiny from a Republican-led House committee and several state attorneys general regarding his business dealings ahead of OpenAI’s anticipated IPO. On the data security front, Instructure confirmed a deal to recover stolen Canvas data from hackers, though the compensation paid remains undisclosed.

Dealmaking & Political Philosophies

Global dealmaking activity in the Gulf region has stuttered significantly since February, with bankers seeing their expected bumper fee year called off due to regional conflict, while in the QSR sector, Nelson Peltz is reportedly raising funds for a bid to take Wendy’s private, valuing the hamburger chain after its shares slumped 70% over five years. On the governance front, Spanish Prime Minister Pedro Sánchez is forging an alternative governing philosophy to Trumpism, while in France, President Macron is installing allies in key state roles to insulate the government from a potential far-right successor next year. Furthermore, in South Africa, billionaire Patrice Motsepe credited public-private partnerships for helping the mining sector regain competitiveness by addressing structural bottlenecks.