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  • Equities (US, Aug 7): Market rally despite “surprise” US job-loss data; Airbnb up, Trade Desk down—directional moves likely stock-specific and not solely macro-driven .
  • Equities (Asia capital markets, July): Record $83B in Asia-Pacific ECM despite ~7% MSCI APAC slump, led by mega listings (e.g., SK Hynix $26.5B, China’s CXMT)—mix suggests investors selectively funding growth/AI . (Known)
  • IPO/PE cycle: Reports suggest PE “eager for exits” as IPO conditions stay hot—uncertain extent of sustained momentum .
  • Semis: AMD results were “excellent,” yet shares fell; framing implies valuation vs fundamentals and potential “buy the dip” messaging—uncertain whether drop persists .
  • Robotics/“embodied AI”: China funding rounds/valuations (incl. >$1B yuan rounds) outpacing shipment forecasts (~tens of thousands)—possible liquidity/valuation disconnect risk .
  • Philippines macro (Aug 7): Q2 GDP +2.3% YoY, weakest since 2009 (non-pandemic); public construction -32.4%, household spending slow—could pressure local risk assets, though exports rose .
  • Commodities (oil/metals): Two contrasting narratives: oil shock “averted” by China crude cut (~-4.9M b/d) vs. precious-metals “structural” silver deficit and ongoing central bank gold buying; both contain uncertainty and selective emphasis .


More on markets & cross-asset signals: gold vs silver vs real rates Asia IPO liquidity windows embodied AI valuation vs shipments


August 12, 2026





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