Public Markets 8 Hours

Last updated: July 7, 2026, 2:32 AM ET

Asian Markets & Tech Earnings

Asian equities largely traded lower as the AI-led rally took a breather, with South Korea leading regional losses after heavyweight chip maker Samsung Electronics tumbled. Despite projecting a 19-fold surge in its second-quarter operating profit, driven by robust AI chip demand, Samsung's shares sank as investors' expectations were even loftier, 64. This profit beat, however, fueled a stock rotation into less-favored sectors with cheaper valuations, as Samsung showed third straight of record profit on AI demand. LG Electronics expects quarterly to more than double, likely driven by a U.S. tariff return and resilient profitability. However, LG Energy Solution reported preliminary second-quarter earnings that missed analyst estimates due to lackluster electric vehicle demand.

Currency & Fixed Income Watch

Trading in the Korean won passed with below-average volume in its first day of round-the-clock dealing, marking a largely uneventful session compared to the past 30 days. The yen consolidated against the dollar amid mixed developments, with weakness potentially spurring global volatility as long-end JGB yields rise. Japan's 30-year government bonds rose, however, after an auction drew its strongest demand since 2019, as high yield levels attracted investors despite fiscal and inflation worries. Meanwhile, the forint rally triggered by Hungary’s political shift is fading as Prime Minister Peter Magyar faces a daunting task to prepare the country for euro accession, according to a strategist at Barclays. JPMorgan Asset Management has trimmed its long yuan positions against the dollar, shifting focus to higher yielding currencies as the yuan’s outperformance cools.

European Markets & Geopolitics

The FTSE 100 is poised to outperform as a tech selloff hits sentiment, while a fledgling rebound in European defense stocks faces a test at the upcoming NATO summit, with investors looking for clarity on member states’ defense spending plans. Discussions surrounding Europe’s role without American support are ongoing, with the alliance facing internal challenges. President Trump is expected to tell Turkey he is ready to restore access to F-35 jets, a ban he imposed amid concerns about Russian access to stealth technology. German CEOs are concerned that proposed tax cuts are too small to jump-start the economy, as the Chancellor battles weak business sentiment and a surge in support for the far right.

Deals & Corporate Activity

German startup Proxima Fusion has raised €411 million ($469 from investors including RWE and Alphabet's Google to develop a nuclear fusion plant, valuing the company at €2.4 billion. The UAE's Adnoc struck a $1 billion deal for Shell’s South African fuels business, acquiring 580 service stations and other assets as part of its overseas expansion. Separately, India's K Raheja Corp. Pvt. has delayed plans for an initial public offering, aiming for a $700 million raise after feedback from investment bankers. HSBC is pulling back from riskier private credit lending, informing clients it would not renew certain facilities.

China & Emerging Markets

China has purchased more soybeans from the U.S. as key agricultural trade gains momentum following a summit between the two nations’ leaders. Authorities are raising the quota for an offshore ‘connect’ scheme in a bid to boost international use of the renminbi, with the PBOC unveiling new measures to cement Hong Kong’s yuan hub status. Hong Kong has launched a trial operation of a new gold clearing system, backed by major banks, as it aims to become a significant bullion-trading hub. In a mystery probe, a Thai investor has amassed nearly $1 billion worth of shares in True Corp., making her one of the telecom giant’s largest shareholders.

Commodities & Energy

Oil rose in early trade on possible position adjustments before the expected resumption of U.S.-Iran talks following the funeral of Iran’s former Supreme Leader Ali Khamenei. Jet-fuel prices have plunged, but carriers are not translating this into lower fares, as travelers continue to pay up and airlines are hesitant to restore trimmed routes. Greece’s shipping companies have generated almost $4 billion from shipping Russian oil in the past three years, transporting fuel under the G7 price cap regime. Japan’s state-backed Inpex Corp. signed a 15-year deal with Abu Dhabi National Oil Co. for liquefied natural gas supply from its Persian Gulf project.

US Markets & Economic Indicators

Gold fell in early Asian trade as traders awaited minutes from the Federal Reserve’s last meeting for fresh insights into the path for U.S. interest rates. The US is experiencing a heatwave, with New Jersey potentially seeing up to 29 heat-related deaths and New York City emergency rooms logging a significant increase in heat-illness patients. Trump attempted to take credit for Walmart price cuts on beef and other products, with the retailer announcing reductions on a range of items. JPMorgan and Bank of America are exploring a deal with other banks to shake up the payments world, potentially allowing for bigger transaction fees despite concerns about backlash.