Key

• Tech stocks rose on Thursday following blockbuster earnings from Nvidia, which helped alleviate investor concerns regarding the sustainability of the AI investment boom. • The market gains were partially offset by new US economic data indicating that inflation remains stubbornly high, tempering overall investor euphoria. • Broader global markets struggled, with European stocks mostly lower and Asian markets in Tokyo and Hong Kong both closing slightly down.

• Asian semiconductor and technology stocks rebounded on Wednesday, reversing last week's sharp selloff in the AI trade. • Key indices saw gains, including South Korea’s KOSPI rising 1.8%, Japan’s Nikkei 225 gaining 0.9%, and China’s CSI 300 climbing 1.2%. • The recovery is driven by investors repositioning their portfolios in anticipation of Nvidia's upcoming earnings report.

Exclusive: Arturo Béjar, an ex-Facebook employee and whistleblower, said outcome ‘is not an all clear to say the product is safe’Meta agrees to major changes to Facebook and Instagram in settlementThe star witness in the US government’s landmark trial against Meta believes that a multibillion-dollar settlement reached on Wednesday does not go far enough to stop the social media giant’s harms to young users.“The limitations that are in the agreement are the equivalent of saying: ‘Well you can smoke as many cigarettes as you can in two hours a day,’” said whistleblower and ex-Facebook employee Arturo Béjar. “It doesn’t make the cigarettes any safer.” Continue reading...

• Capital market leaders and financial executives gathered at the 20th anniversary of the Thailand Focus conference to discuss strategies for reigniting foreign investor confidence. • Experts including Asadej Kongsiri of the Stock Exchange of Thailand and representatives from UBS, CLSA, and DBS highlighted that attractive valuations and emerging growth engines place the country in a "sweet spot" for investment. • The panel emphasized that achieving sustained growth depends heavily on political stability and the effective execution of government policies.

The US president expected Ottawa to bow to tariff demands, but Canada is striking back – and it could cost AmericansThis was originally published in This Week in Trumpland. Sign up to receive it in your inbox every WednesdayEarlier this year a survey found that Canada, along with Switzerland, was the best-liked country in the world. We all know this kind of polling is about as scientific as a high school popularity contest, but at least anecdotally, Canadians have a reputation for being friendly and welcoming, respectful and polite. Many people would find it difficult to dislike Canadians.But not Donald Trump, who in a “hold my beer” moment this week demonstrated that he, at least, finds it easy to resent Canadians. The US president called the country “difficult and unreasonable”, and in a particularly hysterical moment, threatened to rename a lake, after trade talks collapsed. Continue reading...

• US stock futures rose ahead of the August 26 session, with the Nasdaq 100 leading gains at 0.9% and Dow futures up 0.6%. • Investors are closely monitoring premarket gains for chipmakers Nvidia, AMD, and Micron, specifically awaiting Nvidia’s upcoming quarterly results. • Market volatility is being driven by falling oil prices, shifting Iran war support, and a 10-year Treasury yield that dropped over 3 basis points to 4.666%.

• Saudi Arabia, Türkiye, and Pakistan have established the Makkah Joint Defence Agreement 2026, creating a new collective-defence framework among the three nations. • The pact focuses on enhancing defence diplomacy, maritime security, and collective security measures to stabilize West Asian geopolitics. • The agreement is strategically significant due to its potential impact on India-Pakistan relations and India's security interests within the Indian Ocean Region.

• The Australian Medical Association (AMA) has issued a new position statement urging specialist medical colleges to increase the transparency of their fees. • This move aims to provide patients with clearer information regarding the costs associated with specialist medical services. • The initiative matters as it addresses growing concerns over healthcare affordability and the lack of pricing clarity for patients navigating the system.

• Nvidia stock experienced a 2.73% decline, falling to $209.2 today. • The pullback is primarily attributed to price hikes for AI servers and ongoing discussions regarding new AI investments. • This volatility highlights the market's sensitivity to pricing adjustments and investment shifts within the high-demand AI infrastructure sector.

• China's top internet regulator unveiled a strategic action plan on Friday aimed at transforming cyberspace enterprises into primary drivers of economic and social development by 2030. • The initiative focuses on achieving breakthroughs in critical technologies, specifically targeting high-end chips, industrial software, network communications, and data security. • This plan matters as it seeks to balance the rapid growth and invigoration of tech firms with a framework for "orderly and healthy" development.

• Wall Street indices remained subdued on Monday as investors adopted a cautious stance ahead of a week filled with high-impact economic events. • Market participants are specifically focusing on upcoming key corporate earnings reports and volatility within the US bond market. • The US Treasury Department is actively working to steady specific segments of the bond market, which showed some signs of easing during the session.

• Democratic Party chair Kim Min-seok has initiated a reconciliation push by calling for frequent, informal talks with People Power Party leader Jang Dong-hyeok. • Simultaneously, Kim is seeking to revive cooperation with the Rebuilding Korea Party, exploring the possibility of a merger to strengthen the liberal alliance. • The Rebuilding Korea Party has responded cautiously, stating that rebuilding trust is a necessary prerequisite after previous merger negotiations collapsed.

• Investors are monitoring the geopolitical situation between the US and Iran, as any escalation could negatively impact global risk sentiment and market stability. • Market participants are also awaiting the Jackson Hole symposium, specifically focusing on the debut appearance of Federal Reserve official Warsh. • These factors, along with several other key indicators, will likely drive volatility and direction for Dalal Street in the coming week.

• Market indicators suggest a disconnect between positive headlines and actual economic data, as core CPI rose to 2.90% and energy inflation accelerated to 23.50%. • The XLU/SPY relative-strength ratio, used to gauge whether the market is pricing in defensive or offensive positions, currently sits at 0.0632. • With XLU at $46.23 and SPY at $731.23, the ratio has declined by 2.09% over the measured window, signaling a shift away from defensive utilities.

• Thai shares trended sideways down this week, characterized by mild selling pressure and frequent sector rotation. • Investors engaged in periodic buy-backs, notably with TTB shares following a big-lot sale by ING Bank that caused a slight price dip. • The current market environment emphasizes that careful sector and stock selection are now the primary drivers for achieving investment success.

• China has officially rejected U.S. President Donald Trump’s threat to launch an “economic D-Day” against Iran. • In response to the proposed escalation, Chinese officials stated that imposing further sanctions does not "fit the interest of any party." • This tension highlights the geopolitical friction between the U.S. and China, as China remains a critical trading partner for the Iranian economy.

• Peeko raised $7 million in funding, while Tross secured an undisclosed pre-seed round led by All In Capital and DeVC to expand its US healthcare EHR and payer integrations. • In legal developments, Hindustan Unilever (HUL) has moved to court against Beco, and Starlink has reapplied for necessary approval from IN-SPACe to operate. • These events highlight a mix of aggressive growth in the health-tech sector and intensifying regulatory and legal battles among major corporate players in India.

• Experts interviewed by Vedomosti on August 20th report that Europe's economic gap with the United States is widening due to lower labor productivity and structural challenges. • The decline is attributed to a combination of demographic issues, exchange-rate effects, and a heavy dependence on foreign trade. • Key geopolitical and economic shocks, including Brexit, the COVID-19 pandemic, fuel crises, and conflicts in the Middle East, have severely weakened the EU's growth and resilience.

• The Sensex rose by 600 points and the Nifty climbed above 24,200, breaking a seven-day losing streak for the latter. • The rebound was driven by positive global cues, including gains in Asian markets and a recovery in U.S. indices. • Market stability followed an announcement by the U.S. Treasury to double long-dated debt buybacks, which lowered the 10-year Treasury yield to 4.65 percent.

• Merck and Moderna announced that their Phase 3 INTerpath-001 trial met primary endpoints for recurrence-free survival (RFS) and distant metastasis-free survival (DMFS) in patients with completely resected stage IIB-IV melanoma. • The study found that combining KEYTRUDA with intismeran autogene—an mRNA-based individualized neoantigen therapy tailored to a patient's specific tumor mutations—provided statistically significant improvements over using KEYTRUDA alone. • This marks the first and only combination regimen to demonstrate such clinically meaningful improvements in the adjuvant melanoma setting.

Elections in Florida, Alaska and Wyoming provide a sense of how voters are feeling ahead of November’s midtermsPrimaries in Florida, Alaska and Wyoming held on Tuesday provided the latest view into how voters are feeling ahead of November’s US midterm elections.One candidate aligned with the Democratic Socialists of America (DSA) netted an extraordinary win while another was defeated handily. Donald Trump’s handpicked candidates received a mixed reception from voters. In Alaska, voters chose their fighters for one of the year’s marquee US Senate races, and in Florida, extremism remained alive and well among Republicans. Continue reading...

Investigation into unnamed lawmakers comes hours before parliament is due to to vote on successor to Mykhailo Fedorov as he calls for electionsDefence and security editorArtem Bronzhukov, a Ukrainian political analyst, questioned whether it would be practical to hold elections given that Russian bombing was continuing.“Today there is no clear understanding of how to ensure people’s safety in the context of a full-scale war.” Continue reading...

• Florida has concluded its 2026 primary elections, officially determining the nominees for governor, U.S. Senate, and various congressional seats. • The results were influenced by the state's newly drawn political maps, which shifted the dynamics of several closely watched local races. • These outcomes are critical as they establish the final candidates who will compete in the general election this November.

US president delays 50% tariffs by three days, and says contentious oil project ‘may be awoken from the grave’Canada has temporarily avoided a bruising 50% US tariff, reaching a Tuesday evening agreement with Trump officials, hours before a hike that would have affected $20bn worth of goods was set to take effect.Trump posted late Tuesday on social media that he had paused the tariffs for three days “based on the fact that Canada and the USA, subject to the finalization of documents, have a DEAL!” Continue reading...

• President Trump ordered the Pentagon to "substantially reduce" joint military exercises with South Korea, a critical ally in the Asia Pacific region. • In a social media post on Sunday, the President justified the decision by citing his "very good relationship" with South Korean leadership. • Separately, House Judiciary Committee Chairman Jim Jordan of Ohio has begun demanding documents from a legal firm following allegations of wrongdoing.

• Indian stock indices, Sensex and Nifty, are currently facing volatility as investors shift focus from earnings season to global macroeconomic triggers. • Key drivers include the upcoming FOMC minutes for signals on the Federal Reserve's policy outlook, as well as crude oil prices and tensions in the Strait of Hormuz. • Market analysts, including those from Ambit, note that small-cap risk-reward profiles are improving due to strengthening valuations, capex, and earnings.

• The Indian stock market is expected to experience continued volatility next week as investors monitor several global and domestic triggers. • Key factors driving market movement include the release of the US Federal Reserve's meeting minutes, escalating US-Iran tensions, and rising crude oil prices. • Investors are also closely tracking foreign fund flows and fluctuations in gold prices to gauge overall market sentiment.

• A widely circulated report falsely claimed that a new Pope, Leo XIV (formerly Robert Francis Prevost), took a political stance against Republican hostility in the U.S. Congress. • The misinformation suggested that the Chicago-born figure attempted to counter political tensions by extending a warm personal welcome to the United States. • This event highlights the spread of fabricated political narratives and the potential for misinformation to mimic significant non-electoral political moves.