Surge

• iShares MSCI South Korea ETF and iShares MSCI Taiwan ETF have risen 239% and 96% respectively over the past 12 months amid AI mania. • South Korea's KOSPI index hit a record 7,899.32 on Monday with a 4% surge, while Taiwan's TAIEX closed above 42,000 for the first time last week. • Goldman Sachs forecasts South Korea's GDP growth at 2.5% in 2026 with AI-related exports tripling to nearly 30% of GDP; Taiwan's GDP expected to accelerate to 10% with similar export rises.

• Akamai Technologies announced a major cloud infrastructure services contract worth $1.8 billion over seven years with a leading frontier AI model provider, identified by Bloomberg as Anthropic. • The company's stock posted its best weekly performance since April 2013, gaining 42% for the week including a 27% jump on Friday to reach a record high. • Akamai provides cloud computing, cybersecurity, and content delivery services critical for accelerating websites, apps, and AI workloads amid surging demand for compute infrastructure.

Members of minority communities in Birmingham and elsewhere fear results could lead to rise in hostile rhetoricConceding defeat at the election count at Birmingham’s Utilita Arena on Friday, the outgoing Labour leader of the city council, John Cotton, made a plea. “What I would encourage the next administration in this city to do, whatever form that administration takes, is that it ensures it champions the diversity of this city,” he said.Labour’s 14-year rule of the local authority had come to a crashing end, with Reform emerging as the largest party with 22 councillors so far, followed by the Greens on 19, albeit both parties a long way off the 51 needed for a majority. Continue reading...

• Chenbro Micom, a Taiwan-based tech firm, posted Q1 2026 sales of TWD 7.1 billion, up 70% year-over-year, with net income doubling to TWD 1.34 billion. • The company achieved annual revenue growth of 31.1% and earnings growth of 32.7%, outperforming industry averages amid Asia's tech momentum. • This performance highlights Chenbro's strong positioning in high-tech sectors like server components, bolstered by resilient Asian demand.

• Singapore's Straits Times Index gained 0.3% on May 7 to 4,941.96, led by Venture Corp's 10.9% rise to $18.28, before dipping 0.4% to 4,921.90 on May 8. • The movement reflects selective strength in tech amid broader Asia market caution. • Venture's gains highlight investor confidence in Singapore electronics manufacturing resilience.

• U.S. IPO deal count increased 36% quarter-over-quarter and 78% year-over-year in Q1 2026, with transaction values up 91% from Q1 2025 but flat from Q4 2025. • Top 10 IPOs totaled over $6 billion, led by Forgent Power Solutions at $1.74 billion in industrials, followed by Janus Living at $966 million in real estate. • Healthcare dominated with 40% of top IPO volume including Minimed Group, Generate Biomedicines, Eikon Therapeutics, and Aktis Oncology; industrials claimed three spots.

• Allison Transmission posted an 84% revenue surge in Q1 2026, primarily fueled by a recent acquisition amid macroeconomic uncertainty. • The company reaffirmed its full-year 2026 guidance issued on February 23, factoring in Q1 results and geopolitical risks. • This performance underscores acquisition-driven growth in the transmission sector, with implications for industrial suppliers.