Public Markets 8 Hours

Last updated: August 12, 2026, 2:35 AM ET

Equities

Asia-Pacific

Indian index-options trading volumes slumped 27% in the first week of a new closing auction mechanism, marking India’s biggest market-structure overhaul in years. The shock resignation of Tata Sons Chairman Natarajan Chandrasekaran ahead of a contentious annual shareholder vote threw the conglomerate into turmoil. Godrej Consumer Products shares plunged after CEO Sudhir Sitapati resigned with immediate effect, surprising market watchers. Despite these disruptions, India’s small-cap funds remain hot with investors, as smaller stocks continue to comfortably outpace large caps this year.

In Japan, the Nikkei Stock Average held flat at 66,988.82, as gains in financial and energy shares offset losses in electronics and pharmaceutical stocks. Sanrio shares tumbled as much as 20% — the most in over 12 years — after first-quarter operating income missed estimates. Rakuten shares fell the most in six months after the online shopping mall operator’s quarterly operating profit missed analyst estimates. A new Katsu Curry Index from Bank of New York Mellon suggests the yen is even weaker than the Big Mac gauge indicates, using the price of a Japanese fast-food staple.

South Korean chipmakers SK Hynix and Samsung extended gains following a local media report that Singapore’s Temasek Holdings plans to invest in their stocks. The Korea 30-year bond yield climbed to a record, as elevated energy prices and weaker demand from life insurers intensified pressure on the debt market. Global investors are shifting favor from South Korea to Taiwanese stocks on steadier earnings prospects, as both AI-bellwether markets recover from July’s rout.

In Australia, AGL Energy shares jumped the most in six months as the company’s batteries helped offset declining wholesale electricity prices. New Zealand PM Christopher Luxon won a party confidence vote less than three months before a general election.

Singapore stocks received a boost as JPMorgan raised its target for the market, citing robust economic growth and a narrowing valuation gap with developed-market peers. The Singapore dollar weakened against the greenback as investors await U.S. inflation data. Singapore Exchange is exploring single-stock ETFs and tie-ups to bolster its position as Southeast Asia’s key multi-asset hub.

The Indonesian ride-hailing platform GoTo faces MSCI index exclusion after its shares plunged, threatening its status at the once-$32 billion company. Indonesian bonds, the worst performers in Asia, may bounce back as a new central bank chief supports the currency and authorities address fiscal stability concerns.

Europe & UK

London stocks are set to fall again as the pound holds steady. UK officials are trying to fix a problem with expiring land leases that has hung over China’s real estate sector for years, with $148 billion at stake. Back in Europe, ABN Amro reported quarterly profit that beat estimates, thanks to higher fees and lending income, prompting the Dutch bank to raise its revenue outlook.

US & Americas

CoreWeave shares jumped as revenue doubled from a year earlier, with a mounting sales backlog of $104 billion showing strong demand for cloud computing. Cava Group said climbing customer traffic boosted its profit in the second quarter. Cracker Barrel’s CEO Julie Masino exited after quietly blessing efforts to find her successor while publicly charting a path out of a controversial rebranding. Paramount CEO David Ellison floated a possible move out of California as the antitrust battle over the Warner Bros. deal drags on.

Japanese self-driving startup Turing plans a U.S. office and targets a $10 billion IPO valuation, aiming for mass production of driver-assistance software by 2030.

Fixed Income & Currencies

Yen traders are ramping up options market activity ahead of key US inflation data, turning to derivatives for flexibility amid a lack of consensus on the currency’s direction. China has authorized Deutsche Bank as the first non-Chinese lender to settle yuan transactions in Europe, expanding its clearing network. Signs of life are returning to the Shanghai free-trade zone bond market, which went quiet after authorities clamped down on local government borrowing.

Jane Street is repaying $5.5 billion of floating-rate loans as part of a broader overhaul of its $11 billion debt load.

Commodities

Oil rose in early Asian trade, with crude prices volatile amid Middle East developments. Gold advanced as traders weighed prospects for a Strait of Hormuz deal while awaiting US inflation data. Gold also edged higher ahead of U.S. inflation data for cues on the Fed’s policy path. Demand for one-carat diamond rings is booming, driven by more than just proposals.

Deals & Corporate Finance

Blackstone and Quebec’s La Caisse pension fund agreed to acquire a 25% stake in Air Canada’s Aeroplan loyalty program for nearly $2 billion. Wall Street and Nvidia are building an exotic money pipeline for the AI boom, using chips as collateral in what executives hail as a new asset class. Singapore Airlines lost about S$1 billion on its Air India bet, with more pain forecast — the timing of taking a 25% stake “could not have been worse,” an executive said. The collapse of AstraZeneca’s proposed $400 billion deal with Bristol Myers Squibb unravelled after a chorus of investors revolted.

A US mortgage giant, UWM, secured a $2.1 billion lifeline after a bad trade pushed it into a $603 million loss, with billionaire Mat Ishbia forging a last-minute deal with Oaktree. Revolut cut back WeWork access for premium customers after price rises, with subscribers losing access to European offices in cities including Paris and London. South Africa’s Eskom is targeting a data centre “gold rush” for its power surplus, with its chair saying it has “power that we cannot sell” after ending years of blackouts.

Private equity can score top marks with education deals, as Britain’s universities offer rich pickings. Households near UK grid upgrade projects are in line for lower electricity bills as the government aims to boost support for net zero targets.

Politics & Policy

Peggy Flanagan, Minnesota’s lieutenant governor, won the Democratic Senate primary, becoming the latest left-wing victory in the Midwest. Lisa Demuth beat Mike Lindell in the Republican primary for governor of Minnesota. Darline Graham advanced to the Republican Senate runoff in South Carolina, facing Representative Ralph Norman. Ned Lamont won the Democratic primary for Connecticut governor.

Abdul El-Sayed, the Democratic nominee for Senate in Michigan, deleted old posts defending “defund” and floating an end to fireworks, immediately sparking Republican attacks. JD Vance asked Ukraine to halt strikes on tankers using a Russian port, alarming Washington with Kyiv’s campaign on vessels collecting Kazakh oil. The US also asked Ukraine to stop the strikes. President Trump’s secret Air Force One swap unfolded after Iran obtained details of his stay at a NATO summit, with the US picking up intelligence about a potential threat involving a shoulder-fired missile. Rubio, Bessent and Miller traveled on the decoy plane from Turkey without Trump. With Trump secretly evacuated, the imperiled Air Force One became a flying decoy.

Nigel Farage ended up running against Count Binface in Clacton after forcing a new election in his parliamentary seat. David Ellison floated a Hollywood exit as states threatened his Warner Bros. deal. A Staten Island lawsuit is challenging Mamdani’s second-home tax, with a judge issuing a temporary pause.

The EU’s carbon mechanism is a tariff by another name, the FT argues, denouncing US duties while imposing its own protectionist measures dressed up as climate policy. Britain needs more investors, not higher taxes on investment, as an increase in capital gains taxation would act against economic growth goals.

Sector Focus

China-linked hackers hit Taiwan in an unprecedented “autonomous” AI cyber attack, with AI agents running simultaneous reconnaissance and break-ins. A rotation into China’s biggest tech firms from AI infrastructure stocks will be tested this week as earnings are due. Europe’s farmers are moving to the night shift to beat the heat, using floodlights and cooling sheds. Gamers can’t get enough of “friendslop,” a new generation of multiplayer games focused on spending time with friends rather than beating strangers. The 1873 stock market crash gave birth to modern antisemitism, as angry investors in Germany looked for a scapegoat. Powerful “Derecho” storms tore through the Midwest with winds nearing 100 miles per hour. A party boat rescue turned tragic near Liberty Island, with a mother and daughter dying and a federal investigation underway. A Maine town, once dependent on a paper mill, tries to move on after a new owner moves in. The Elizabeth Street Garden fight in Manhattan pits community members against politicians and developers over affordable housing. The StubHub customers who battled for tickets battle harder for a refund, with complaints of lengthy fights for money back. A solar eclipse is hours away in Europe, with sky watchers flocking from Iceland to Spain.