U.S. stock futures fell Tuesday night after U.S. forces launched “self-defense strikes” against Iran in response to the reported downing of a U.S. Army Apache helicopter. Futures for the S&P 500 and Nasdaq 100 each declined 0.3%, while Dow futures dropped 161 points (0.3%). The geopolitical escalation pushed West Texas Intermediate (WTI) crude oil up about 1% to around $89 per barrel, raising concerns about the fragile U.S.-Iran ceasefire and broader market stability. Earlier in the day, weakness in semiconductor and AI-related stocks continued, sending the S&P 500 down 0.26% and the Nasdaq Composite down 0.97%, although the Dow Jones Industrial Average gained 86.1 points (0.17%). Investors are now focused on Wednesday’s U.S. inflation report, with economists expecting CPI to rise 4.2% year-over-year and 0.5% month-over-month, which would mark the first reading above 4% since May 2023.

Cracker Barrel surged about 7–8% in after-hours trading after raising its full-year guidance and reporting stronger-than-expected fiscal third-quarter results, including $797.4 million in revenue versus expectations of $776.7 million and adjusted earnings of $0.29 per share compared with forecasts for a $0.48 loss per share.

SpaceX’s set IPO price of $135 means investors have to take it or leave it. The company plans to stop taking orders on Wednesday, so it has more time for share allocation on Thursday, according to people familiar with the matter. SpaceX is targeting retail allocation of 30%, a much higher percentage than the typical IPO, which is 5% to 10% for retail investors. SpaceX IPO well oversubscribed with US$10 bil orders.

Paramount’s US$110 bil Warner takeover investigated by UK

Indonesia delivers shock rate hike to reverse market sell-off

Wee Hur to expand Hong Kong PBSA portfolio with acquisition of One Bedford Place

Units of Elite UK REIT to be included in the CPF Investment Scheme

Keppel secures land for data centre development in South Korea

HC Surgical acquires 51% stake in NYK Endoscopy and Digestive Centre for $750,000

Nio denies US allegations, says inclusion on Chinese military companies list ‘will not impact’ business

Keppel enters South Korea’s data centre market with 60 MW greenfield project

SIA Engineering, France’s Safran in US$118 million JV for aircraft engine maintenance in Singapore

China’s Tencent Holdings has drawn more than US$16 billion in orders, around four times the amount it is seeking to raise, for a planned dual-currency bond, updated order book messages reviewed by Reuters showed on Tuesday (Jun 9). The enthusiasm is in line with the global rush towards technology that has driven AI-linked stocks to record highs and also reflects the length of time since Tencent last issued a dollar bond.

Singapore REITs (S-Reits) are increasingly viewed as attractive defensive investments as interest rates appear to have peaked and refinancing conditions improve. Analysts from DBS and UOB Kay Hian argue that much of the sector’s macroeconomic risk has already been priced in, with S-Reits trading at around 0.9x price-to-book value and offering a 3.8–4.0% yield spread over 10-year Singapore government bonds. About 85% of REIT managers expect stable or lower interest rates through 2026, while the sector’s average debt cost has declined to a manageable 3.3%, supporting a gradual recovery in distributable income. Both brokerages favor sectors with strong fundamentals, particularly office, industrial, healthcare, logistics, and data centre assets, citing resilient occupancies, pricing power, and supply constraints. Common top picks include CapitaLand Integrated Commercial Trust and NTT DC REIT, while DBS also prefers CapitaLand Ascendas REIT and Mapletree Logistics Trust. Key growth catalysts include active asset recycling, acquisitions, and development projects, such as CICT’s S$2.5 billion office tower sale to help fund its S$3.9 billion acquisition of Paragon, and UI Boustead REIT’s aerospace facility project expected to generate an 8.6% yield on cost. Overall, analysts believe S-Reits are “priced for pain but positioned for recovery,” making the sector an appealing option for income-focused investors seeking stability and potential upside.

Taiwan mulling curbs on AI chip exports to China to align with US

China preparing US$295 bil plan to fund nationwide AI buildout

Hong Kong stocks extended their losing streak on Tuesday, with the Hang Seng Index (HSI) falling 91 points (0.37%) to 24,565, marking its fifth consecutive decline, despite strong trading turnover of HKD 308.9 billion. The Hang Seng Tech Index (HSTECH) edged up 0.29% to 4,769, while the HSCEI slipped 0.2% to 8,324. Market sentiment was affected after the U.S. Department of Defense added several major Chinese companies, including Alibaba Group, Baidu, and BYD Company, to its Chinese Military Companies list. Shares reacted mixedly, with Baidu up 0.5%, Alibaba down 1.4%, and BYD up 0.4%. Biotech stocks were weaker after WuXi AppTec fell 3.7%, dragging related firms lower. Among technology stocks, Tencent Holdings gained 1.5% after opening its WeChat AI ecosystem to developers, while Meituan, JD.com, and Kuaishou posted modest gains. Strong performers included Semiconductor Manufacturing International Corporation, Lenovo Group, and ENN Energy, each rising more than 3%. In contrast, shipping firm Orient Overseas International dropped 5.2% and PetroChina fell 4.6%. The standout winners were Kingboard Laminates Holdings, which surged 12.6% to a record high after a target-price upgrade from Citi, and its parent Kingboard Holdings, which soared 25.2% to an all-time high.