Public Markets 8 Hours

Last updated: August 9, 2026, 8:35 PM ET

Equities

Treasury Wine Estates flagged a A$558.4 million ($395 million) post-tax writedown ahead of its full-year earnings, citing excess U.S. supply. The Australian vintner’s stock fell after the announcement. Meanwhile, Westpac Banking Corp. reported a slight profit expansion as deposit and loan growth offset the CEO’s cautious outlook on the housing market. In China, a billionaire brokerage run by Leaf Li has become a central target in Beijing’s crackdown on offshore capital flows, pressuring fintech stocks. On the tech front, China is betting on AI stocks to compete with the U.S. for chip dominance, marking a shift from subsidies to market-driven investment.

Fixed Income & Currency

The Australian dollar is poised to climb back toward a 35-year high against the yen as the Reserve Bank’s hawkish stance outweighs fading intervention effects. Analysts say the Aussie-yen cross could approach a three-decade peak. In Europe, Hungary’s central bank renewed its support for joining the euro area, arguing it would benefit the economy. The forint strengthened slightly on the news. Bond markets remained subdued, with traders awaiting U.S. inflation data.

Commodities

Oil prices climbed on Monday as hopes for a breakthrough on the Strait of Hormuz faded. Iran and Oman remained short of a deal to reopen the waterway, and Houthi militants claimed an attack on a Saudi refinery near the Red Sea. Brent crude rose 1.8% to $82.40 a barrel. Simultaneously, Tehran hardened its rhetoric, demanding new conditions from the U.S. before reopening the strait. In the Americas, Trump’s Venezuelan oil policy is faltering as the costs of forcing free elections rise, threatening supply expectations. Separately, Australia’s wheat crop is rebounding, helping buffer a grim global supply outlook. Futures for the grain fell 2% on the improving harvest prospects.