Public Markets 8 Hours

Last updated: May 27, 2026, 2:32 AM ET

Energy & Commodities

Oil futures declined 1.3% in early Asian trading as markets weighed prospects for Hormuz reopening amid U.S.-Iran negotiations, while gold rebounded to $2,340/oz on renewed safe-haven flows following fresh Middle East tensions. Base metals advanced broadly with copper climbing and aluminum eyeing its highest close in four years, driven by cautious optimism over diplomatic progress despite Persian Gulf flare-ups. The aluminum rally could spur record Chinese exports as elevated prices cap domestic consumption, adding pressure to global supply chains already strained by energy market volatility.

Fixed Income Markets

Thailand plans to raise $5 billion through promissory notes and term loans to fund living-cost relief measures, shunning bonds after Iran-related supply shocks pushed sovereign yields sharply higher. Japan's 40-year bond auction drew stronger demand than its 12-month average as superlong JGB yields rose on inflation expectations tied to elevated oil prices, even as Bank of Japan Governor Kazuo Ueda offered no guidance on policy timing. The dollar held steady against the yen in quiet trading overnight, with traders maintaining bets on eventual Fed easing despite sticky energy costs.

Asian Equities

South Korean shares surged 100% year-to-date, eclipsing dotcom-era gains and pushing the benchmark toward historic territory, while semiconductor champions SK Hynix and Micron joined the trillion-dollar market cap club alongside Nvidia and TSMC on AI-driven memory frenzy. Adani Power drove group shares higher as a heat wave boosted India energy demand, putting the conglomerate within striking distance of a $200 billion combined market value. However, ASX Ltd. shares tumbled to decade lows after cost pressures prompted multiple brokerages to cut earnings forecasts for the Australian exchange operator.

Corporate Leadership

BP removed chair Albert Manifold over serious conduct concerns, marking the latest leadership shake-up at the oil major that has seen two CEOs and two chairs depart in three years amid ongoing boardroom tensions around governance practices. The departure turns focus to Meg O'Neill to deliver a swift turnaround, with Manifold's use of personal devices and behavior cited as key factors in his removal. In media circles, Donald E. Newhouse died at age 96, having steered Advance Publications' newspaper division while his brother Si oversaw Condé Nast's magazine empire.

Semiconductor Sector

Samsung Electronics' largest union approved a compensation deal that will award chip workers an average bonus of $340,000, averting a strike that threatened production at the world's largest memory-chip maker. The union bonus agreement follows Samsung's deal to share AI profits with workers, ending months of negotiations over how to distribute gains from the memory chip boom. Meanwhile, Xiaomi posted another profit decline as memory prices soar, with the Chinese smartphone maker citing stiff competition and soft demand alongside supply chain pressures for its rough start to the year.