ING

U.S. stock futures rose as tensions between the U.S. and Iran escalated, with oil prices increasing due to attacks in the Strait of Hormuz. President Trump mentioned Iran requested a meeting, but Iranian officials denied it. Comcast announced a split into two companies, and global markets tracked developments in the region and corporate updates.

The AI buildout is increasing energy demand globally, with data centers in the US outpacing power grid capacity, while developers create self-sustaining power systems. In China, AI's electricity usage is projected to reach 5.3% of total consumption by 2030, prompting a policy to locate data centers in western regions using 80% green energy.

Defence firms near Russia are outpacing Western peers in rearmament efforts, according to ING. A top executive noted that Eastern Europe has transitioned from verbal commitments to concrete actions more quickly.

The Bank of Japan raised interest rates to their highest level in over 30 years amid global inflation risks linked to the Iran war. The decision aligns with tightening monetary policies by major central banks, including the European Central Bank, and preceded upcoming meetings of the Federal Reserve and Bank of England. Japan’s benchmark stock index reached a record high following the announcement.

Asian shares rose sharply following U.S. President Trump's claim of a breakthrough in Iran war talks, while oil prices fell. Markets in South Korea, Japan, Hong Kong, and others saw significant gains, driven by optimism over a potential ceasefire extension between the U.S. and Iran.

Asian shares surged, and oil prices fell as Trump claimed a breakthrough in Iran war talks, leading to renewed investor optimism. Analysts remain cautious about the ceasefire extension's fragility despite positive developments.

China’s exports to the U.S. surged over 35% year-on-year in May, the strongest pace since early 2021, driven by technology and auto shipments despite Trump’s tariffs. Exports overall rose 19.4% in May, supported by AI-related products and green technology demand.

China’s exports rose 19.4% year-on-year in May 2026, driven by strong demand for autos and technology goods. Exports to the U.S. surged over 35% compared to the previous year, supported by AI-related products and semiconductors. BYD, China’s largest EV maker, reported an 80% increase in overseas vehicle sales.

Heavy rains in Laos are delaying the search for two people missing in a flooded cave, following the rescue of five villagers trapped for over a week. International rescue teams, including divers from Finland, Malaysia, and other countries, are working to locate the remaining individuals, with hopes pinned on a narrow crack leading to a potential sixth chamber in the cave system.

Rescuers in Laos have freed four men trapped in a flooded cave for 10 days, with two still missing. International teams from Laos, Thailand, Japan, Malaysia, Indonesia, France, and Australia are assisting in the operation.

Banca Sella has become the first Italian bank licensed under the EU's MiCA regulation to offer Bitcoin and crypto services, including custody and transfer for corporate/institutional clients. The bank participated in a DLT pilot program and is part of Qivalis, a consortium developing a MiCA-compliant euro stablecoin.

India faces an energy crisis due to surging demand and fuel shortages, leading to power cuts and four gasoline/diesel price hikes in 10 days. The crisis is linked to climate challenges, Iran war-related disruptions, and heavy reliance on imports via the Strait of Hormuz. Economic impacts include raised inflation forecasts by Goldman Sachs and rupee vulnerability warnings from ING.

Oman is negotiating with Iran to establish a toll system for ships passing through the Strait of Hormuz, an idea rejected by the US. The conflict has disrupted global energy supplies, causing economic slowdowns in Europe and Asia, with economists warning of negative impacts on growth and currency instability.

Oil prices reached a peak since the Iran war began, with Brent crude surpassing $126 per barrel before retreating. Rising prices are linked to supply disruptions in the Strait of Hormuz and potential military escalation, while U.S. gasoline prices climbed to $4.30 per gallon.

China's economy grew 5% in Q1 2026, outperforming expectations despite the Iran war's global impact. Industrial output and exports remained strong, but retail sales slowed, and the IMF reduced its 2026 growth forecast to 4.4% due to war-related risks.

The aluminum market is projected to face a two million ton deficit, according to ING's analysis. This deficit highlights supply chain challenges and potential price volatility in the sector.