Asset

• Equity markets maintained their upward momentum in May 2026, with U.S. stocks rising by 5.26% and world stocks increasing by 3.90%. • All eight tracked asset classes are currently in positive territory year-to-date, signaling broad-based market strength. • Equities, commodities, and managed futures have emerged as the most robust performers during this period.

• BP is exploring the sale of a portion of its UK North Sea assets as part of a broader strategic portfolio restructuring. • The company aims to accelerate this process to reduce its overall debt and sharpen its focus on core oil and gas activities. • This move signals a shift in BP's operational priorities as it balances traditional energy production with financial stability.

• Since the end of 2025, over 20 new One-Person Companies (OPCs) have been registered in the Huayuan science park within the Tianjin Binhai High-tech Industrial Development Area. • These new ventures focus on "light-asset" and intelligence-driven sectors, specifically targeting AI content production, software development, and cross-border e-commerce. • This trend highlights a shift in Chinese youth entrepreneurship toward high-tech, low-overhead business models that leverage artificial intelligence and digital platforms.

• The US Department of Labor (DOL) has proposed new regulations under ERISA to clarify fiduciary duties of prudence regarding the selection of designated investment alternatives. • The proposal establishes a process-based safe harbor for fiduciaries, specifically those incorporating alternative asset exposure, to prioritize decision-making processes over final investment outcomes. • This shift aims to mitigate litigation risks for fiduciaries and encourage the inclusion of diverse asset classes in retirement portfolios.

Defence minister says E-7A Wedgetail surveillance aircraft deployed to Gulf in March will join UK and France-led defensive effort to calm Iran conflictFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralia will send a hi-tech military plane to join an international mission to reopen the strait of Hormuz, but the Labor government has not ruled out sending more assets to the Middle East.The defence minister, Richard Marles, joined an overnight meeting of defence ministers from 40 other countries, to discuss global efforts to reopen the key shipping channel off the Iranian coastline, which has been closed or heavily restricted since the beginning of the US-Israel assault in February. Continue reading...

• IGM Financial reported Q1 2026 results highlighting a strong quarter start with record client assets under management and a significant 20% aggregate growth rate. • Management characterized the quarter as demonstrating resilient operating conditions across the financial services firm's business segments. • Record asset levels suggest robust client confidence and successful capital deployment during a period of economic recovery in Canadian and international markets.

• Mainland Chinese companies surged to second-largest investors in Singapore's fixed assets in 2025, capturing 21% of S$14.16 billion (US$11.07 billion) total, up from 2.5% the prior year amid the city-state's safe-haven appeal. • Key deals included CNQC Realty (Prime), Forsea Residence, and Jianan Realty Investments buying a 145,500 sq ft Dover Drive site for S$951 million in Q1 2026, projected to yield 625 residential units. • Europe held top spot at 25% while US share dropped to 17.3% from 55.5%; other transactions featured SingHaiyi Group and Haiyi Holdings acquiring Bayshore Road parcel for S$658.9 million (515 units) and Qingjian Realty group's S$315 million Media Circle buy (345 flats).