☕️ [Task Coins Giveaway] Daily Market Talk

Midday update: Anthropic just closed a USD 65 billion Series H at a USD 965 billion valuation, putting it within striking distance of a trillion-dollar AI company. US-Iran tensions escalated beyond words on May 28 — actual military strikes were exchanged, Brent crude jumped to USD 93.71, and the ceasefire is under pressure again. Closer to home, Wilmar collapsed ~11% on an Indonesian government investigation, its worst single-day drop in six years. Meanwhile Li Auto missed hard and Xpeng surprised to the upside — same sector, completely different stories.

💬 Today's 3 Big Questions

Anthropic is now valued at USD 965 billion, still private. OpenAI crossed USD 300 billion last year. With private AI valuations compressing the public market's oxygen, are we in a pre-crash bubble — or does the monetization pace justify the numbers?
Li Auto Q1 revenue fell 11% YoY with Q2 guidance below consensus, while Xpeng's Q2 delivery guidance beats expectations despite widening losses. Same sector, opposite trajectories. Which EV strategy wins in H2 2026 — profitability discipline or delivery growth?
US and Iranian forces exchanged strikes on May 28 — US bases hit, Iran fired ballistic missiles at Kuwait (intercepted). Brent crude settled at USD 93.71. The April ceasefire is back under pressure. How are you positioning for Middle East tail risk heading into this weekend?

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⏰ Deadline: May 29, 2026, 11:59 PM (SGT)

📊 Quick Market Recap

🌍 Global Macro & Markets

US-Iran military exchange on May 28 escalated sharply: US bases were struck and Iran fired ballistic missiles at Kuwait (intercepted); the April temporary ceasefire is under renewed pressure — Brent crude settled at USD 93.71, highest in weeks
US April PCE rose 3.8% year-on-year (highest since May 2023), core PCE +3.3% YoY — Hormuz energy shock filtering through US inflation data; keeps Fed rate cut timeline uncertain and pressures rate-sensitive assets globally
Tokyo May CPI releasing at 07:30 SGT today (core estimate +1.5% YoY); Michigan Consumer Sentiment final reading due tonight

🇺🇸 US Markets: AI Valuations, Memory Race & Space Sector in Focus

📈 S&P 500 and Nasdaq hit fresh record highs overnight on tech leadership, though Middle East escalation and hot PCE data created a split tape
Anthropic — closed USD 65 billion Series H financing round; post-money valuation reaches USD 965 billion, making it the world's most valuable private AI company ahead of a widely anticipated IPO
SanDisk — CTO stated the AI race is becoming a "memory race"; the company's HBF (High Bandwidth Flash) product suite targeted for launch next year, positioning SanDisk directly in AI infrastructure demand
Space sector — analyst note flagged that NASA is actively seeking to support space companies beyond SpaceX, a potential catalyst for players like Rocket Lab as government contract diversification accelerates

🇸🇬 Singapore Markets

📈 STI closed at 4,989 on May 28, down 0.79%, tracking Asia weakness (HSI -1.38%); overnight PCE data and Middle East escalation add pressure to rate-sensitive S-REITs and bank stocks today
Wilmar International (F34.SG) — plunged ~11% intraday on May 28, largest single-day drop in six years, settling around S$3.45; Indonesia's Ministry of Finance launched a transfer pricing and under-invoicing investigation into 10 palm oil exporters including Wilmar and Musim Mas; company said a statement is forthcoming — watch for SGX clarification announcement at today's open
Yangzijiang Shipbuilding (BS6.SG) — Atlas Corp's acquisition of a 14.58% stake is entering the final window (targeted completion within 4–6 months from announcement); any completion update is a near-term catalyst
Sembcorp Industries (U96.SG) — energy sector sentiment elevated with Brent at USD 93.71 and Hormuz risk repriced; Sembcorp's power and utilities exposure makes it a key watch name in today's session
Keppel (BN4.SG) — Sakra Cogen Plant begins commercial operations, Singapore's first hydrogen-compatible CCGT at 600 MW, boosting power capacity by 45% and fully contracted for 2026–2027; oil price tailwind adds a second angle today
ST Engineering (S63.SG) — appointed Jeffrey Lam as Group Deputy CEO, effective June 1; steps down from COO and commercial aerospace president roles
CapitaLand Ascott Trust (HMN.SG) — divesting The Robertson House for S$360 million, 4% above book value, exit yield 2.3%; net proceeds S$341.7 million expected Q3 2026
OKP Holdings (5CF.SG) — secured S$165.3 million LTA contract for elevator shafts at 30 pedestrian overhead bridges; order book now S$760.7 million through 2031
Seatrium (5E2.SG) — Q1 order book S$15.5 billion across 24 projects through 2033; 8th FSRU conversion project secured
Singapore real wages grew 4% in 2025 (up from 3.2% in 2024); Vietnam's Party chief To Lam delivers Shangri-La Dialogue keynote tonight — second Vietnamese leader to do so

🇭🇰 Hong Kong & China Markets

📈 HSI fell 1.38% on May 28, dragged by Middle East risk and hot US inflation data
Li Auto (2015.HK / $Li Auto(LI.US)) — Q1 revenue RMB 23 billion, down 11% year-on-year; Q2 revenue guidance came in below market expectations, raising concerns around demand recovery pace
Xpeng (9868.HK / $XPeng(XPEV.US)) — Q1 revenue RMB 13 billion, net loss widened to RMB 1.78 billion; however Q2 delivery guidance beat expectations, signaling volume momentum despite continued losses

📅 Key Events Tonight / This Week

🇯🇵 Tokyo May CPI (core est. +1.5% YoY) — 07:30 SGT today
🇺🇸 Chicago PMI (May) — SGT evening today
🇺🇸 Michigan Consumer Sentiment (final) — tonight SGT
🌍 Iran-US negotiations — military exchange on May 28 raises stakes significantly; Hormuz risk elevated over weekend
🇺🇸 SpaceX IPO — ongoing watch; NASA analyst flags push for competitor support beyond SpaceX

Disclaimer: For reference only, not investment advice.