Public Markets 8 Hours

Last updated: May 31, 2026, 11:31 PM ET

Global Markets & Technology SoftBank surpassed Toyota to become Japan's largest company by market capitalization as demand for AI stocks powered the tech giant's shares. Meanwhile, the AI trade hit overdrive, driving the S&P 500 to one of its best two-month runs ever, with Wall Street analysts suggesting the momentum may continue. Taiwan Semiconductor's local investors narrowed the valuation gap with Wall Street, driving the premium on the chipmaker's US-listed shares to a two-year low as they pile into Taipei stock on bets the AI boom has further upside.

Currency & Commodities The dollar showed resilience near 160 yen in Asian markets, with ING forecasting it could rise into the 162-163 yen area in coming months. Gold declined in Asia as uncertainty clouded U.S.-Iran negotiations, with markets awaiting signs of progress in diplomatic talks. In contrast, Chinese consumers are showing renewed appetite for luxury goods, a rare bright spot for global brands after years of weak demand, with high-end beauty and fashion products benefiting from a rebounding stock market.

Oil & Energy Markets Oil rose from a six-week low amid uncertainty over a potential U.S.-Iran peace deal, with Goldman Sachs warning of two-sided risks to prices as lower demand competes with supply losses from the Middle East. Meanwhile, the U.S. military has quietly guided around 70 commercial ships through the Strait of Hormuz in the last three weeks, highlighting tensions in the region. Singapore continues to facilitate Asia's oil flows as a conduit for a significant share of regional energy cargoes amid ongoing geopolitical concerns.

Asian Markets & M&A Chinese mainland investors turned net sellers of Hong Kong stocks for the first time in nearly three years in May, underscoring waning confidence in the city's market. This contrasts with Vietnamese diagnostic testing startup Gene Solutions preparing for a Hong Kong IPO as early as Q2 next year in a rare move by a local firm seeking deeper capital markets access. In India, bond yields may extend their recent surge as investors weigh prospects of interest-rate hikes while concerns grow over the government's fiscal position, compounded by a weak monsoon forecast that adds to inflation and growth worries.

Corporate Deals Berkshire Hathaway agreed to acquire Taylor Morrison Home Corp in an all-cash deal worth about $6