Markets/Commodities
Gold prices were flat after a sharp drop, down nearly 12% for the week, amid
geopolitical tensions.
Copper prices fell below $12,000/ton due to Iran war concerns impacting global
growth and inflation.
Oil prices dropped on reports of a potential one-month ceasefire plan in the
Middle East.
China’s lithium carbonate futures rose over 6%; low-sulfur fuel oil and SC crude
fell over 8%.
Japan's Finance Ministry is considering intervention in crude oil futures to
stabilize markets.
Rates / Macro
IMF lowered Greece's 2026 economic growth estimate to 1.8% due to Middle East
conflict.
ECB will launch new checks on banks’ exposure to private credit.
U.S. 10-year Treasury notes saw yields increase.
Technology / AI / Semiconductors
Alibaba Group unveiled XuanTie C950, a RISC-V CPU for AI, expanding its
full-stack AI ambitions.
SK Hynix plans to spend $7.9 billion on ASML’s EUV tools through 2027 for AI
memory production.
OpenAI is discontinuing its Sora video app to focus on business and coding
tools, and is nearing a $10 billion funding round at a $730 billion valuation.
Tesla and SpaceX plan to jointly build an advanced chip manufacturing plant.
Corporate/Capex
Xiaomi plans to invest 200 billion yuan in the next five years, following 100
billion yuan in the last five.
Li Auto announced a $1 billion stock buyback plan.
Geopolitics / Energy / Iran
Saudi Arabia, UAE, Bahrain, and Kuwait are considering military options against
Iran over attacks on vital infrastructure.
The U.S. has initiated indirect talks with Iran to explore a peace agreement for
the Middle East conflict, and reportedly sent a 15-point plan.
Iran is reportedly charging some ships for safe passage through the Strait of
Hormuz.
The Israeli military seeks several more weeks for its Iran war objectives,
despite U.S. peace efforts.
South Korea's PM canceled a China visit to manage economic impacts from the Iran
war.
Russia and Vietnam signed an agreement to build Vietnam’s first nuclear power
plant.
Policy / Regulation / Industry
India's government notified a landmark order to strengthen natural gas
infrastructure.
China's market regulator is addressing "cutthroat" competition and stepping up
anti-unfair competition enforcement.
European Commission President von der Leyen stated the EU cannot absorb China’s
export-led growth model and industrial overcapacity.
