Public Markets 8 Hours

Last updated: May 25, 2026, 11:33 PM ET

Asian Markets & Technology

Chinese semiconductor stocks jumped in Hong Kong on optimism over Huawei Technologies' potential technological breakthroughs, while Taiwan overtook India as the world's fifth-largest stock market, powered by Taiwan Semiconductor Manufacturing Co.'s breakneck rally. The gains came as China tightens controls on overseas stock trading, creating friction with growing mainland investor demand for international equities. Meanwhile, Xiaomi Corp. short bets hit records ahead of first-quarter earnings amid concerns over rising memory costs and intensifying EV market competition.

Energy & Commodities

Oil futures climbed early Tuesday as traders assessed Middle East developments following U.S. strikes on Iranian targets, with Brent crude falling roughly 7% on Iran deal prospects but investors remaining skeptical. Wheat futures extended their longest losing streak since January as traders digested Iran ceasefire talks, while a searing Asian summer threatens to add upward pressure on global gas prices amid the Strait of Hormuz closure. Gold edged lower as traders weighed U.S.-Iran deal developments, trading near $2,340 per ounce.

Fixed Income & Central Banks

Treasurys rose in Asia following Monday's U.S. holiday, tracking global government bond gains, while Japanese government bonds fell on technical correction after Monday's price advances. South Korea's bond market overprices BOK hikes, creating buying opportunities in short-term debt according to NH Amundi Asset Management. A key Treasury yield gap shrunk to its tightest level in a year as traders ramp up bets the Federal Reserve may keep rates higher for longer under new leadership.

Equities & Earnings

Asian equities traded mixed as investors parsed Middle East developments and U.S. attacks on Iranian targets, while stock risk premiums vanished with the earnings yield-bond yield gap narrowing to levels that historically precede subpar returns. India's earnings revival faces pressure from surging commodity prices, with Bank of America warning corporate profits would stay under pressure even if Middle East conflicts resolve quickly. ASX Ltd. ramped up capital spending to upgrade critical market infrastructure after regulatory challenges.

M&A & Corporate Developments

Mitsubishi UFJ Financial Group explored options for its stake in Indonesia's Bank Danamon, including potential take-private transactions or selling portions to increase public float. Brazil's Copasa water utility attracted major bids from Aegea Investors and Equatorial as the Minas Gerais government advances privatization plans. Codelco's union threatened protests against bonus clawbacks after copper output overstatements at the Chilean state miner.

Geopolitical & Policy

UK Chancellor Rachel Reeves urged ministers to buy British in critical sectors including shipbuilding, steel, AI, and energy infrastructure. China's carbon emissions calculations changed, with independent analysis suggesting retrospective adjustments mask underlying growth patterns. Netanyahu announced intensified attacks on Hezbollah in Lebanon after Israeli forces struck over 70 sites.