Global TradFi & Macroeconomics

The Trump administration will not renew sanctions waivers for Iranian and Russian oil, prompting threats of secondary sanctions against countries, particularly China, buying Iranian oil. This decision ends efforts to stabilize global oil prices amidst ongoing Middle East tensions.

HIVE Digital Technologies plans to raise $75 million via private placement of convertible senior notes. Proceeds will fund GPU purchases, data center construction, and corporate needs. The company anticipates transitioning to the main TSX board by April 30, 2026.

Austan Goolsbee warns that high oil prices from the Iran war may prevent the Federal Reserve from cutting interest rates until 2027, prolonging inflation above the 2% target and leading to a "higher for longer" interest rate scenario.

U.S. equities, led by a 1.96% rise in the Nasdaq Composite, closed significantly higher, driven by a rebound in tech stocks like Nvidia and Amazon. Chinese tech stocks also surged, reflecting renewed investor interest.

After Taishin Securities merged with Yuanfu Securities, a system malfunction caused misposted transaction amounts to grow to 1.76 billion yuan within three days, exceeding market expectations. The number of transactions reached 9,000, setting a record. The company has apologized and pledged to fully absorb the losses, and will also fully cooperate with the investigation and audit. The system issue stemmed from unstable merger integration, which in turn led to duplicate order placements.

Indonesia's rupiah has hit a record low against the Singapore dollar due to rising oil prices and capital outflows from financial markets. Concerns about demand for Singaporean services and export flows to Indonesia are growing. The central bank's interventions aim to stabilize the currency.

Eurozone consumer price inflation rose to 2.6% in March, surpassing February's 1.9% and the initial estimate of 2.5%. Core CPI fell slightly to 2.3%, down from 2.4% in February.

Quantitative trading giant Jane Street Group announced an investment of $1 billion in AI cloud service provider CoreWeave. Its planned total spending is set to reach $6 billion, and it will obtain rights to use NVIDIA Vera Rubin chips. This move is intended to accelerate the development of its AI software. CoreWeave is working to reduce reliance on a single customer and to pivot into an integrated AI infrastructure platform. This investment shows Jane Street strengthening its positioning in the AI space and improving its trading edge with efficient computing power.

Naver plans to IPO Naver Financial after a share swap with Dunamu, targeting a listing within five years. Conditions depend on market and regulatory factors, with a possible two-year extension. Naver will retain control through voting agreements despite new regulations affecting crypto exchanges.

The CEO of the Hong Kong Exchanges and Clearing (HKEX), Chen Yiting, said at the HSBC Global Investment Summit that extending Hong Kong stock trading hours to the U.S. daytime could harm local retail investors and affect market fairness. She emphasized that quality listings and investment opportunities are more important than trading hours, and pointed out challenges related to information disclosure and regulation for listed companies. Chen also mentioned that international companies are showing increased interest in listing in Hong Kong, indicating that HKEX’s structure is becoming more diversified and providing momentum for market development.

Saudi Arabia's PIF invests $550 million in Lucid, while Uber adds $200 million, aiming for a robotaxi launch in 2026. Lucid produces vehicles, Nuro supplies tech, and Uber handles operations, marking a strategic shift from Tesla's model.

Samsung Electronics has requested a court injunction against potential illegal actions ahead of a union strike demanding 15% performance bonuses. A mass rally and strike could disrupt global semiconductor supply, as Samsung's profits rise amid record quarterly earnings.

On April 16, Hong Kong's major indices rose significantly as geopolitical risks eased and positive economic data emerged. The Hang Seng Index climbed 1.72%, driven by gains in tech and lithium battery stocks, notably CATL and Baidu. New IPOs also saw strong performance.

TotalEnergies anticipates strong first-quarter results driven by rising energy prices and increased production outside the Middle East, despite Iran conflict impacts. The company expects growth in oil and gas output and trading, against potential supply disruptions.

Elon Musk's Terafab project seeks to revolutionize chip manufacturing with $20-25 billion investment, targeting 1 terawatt capacity by 2029. While stock prices surged, analysts raise concerns about its feasibility, estimating costs could reach $5-13 trillion.

XRP rose 4% to $1.41, boosted by Ripple's partnership with Kyobo Life and increasing institutional interest. Broader market gains and positive community engagement also contributed, though XRP remains 63% below its peak. Key support is at $1.38.

Madison Air Solutions completed a $2.2 billion IPO, the largest in 2026, pricing shares at $27. Strong demand supported the offering, which reflects growth in data center cooling markets. However, risks include customer concentration and controlled company status.