The first quarter of 2026 will be remembered as a period that began with historic optimism and ended in crisis. Asian equity markets opened the year at record levels, fueled by Samsung and SK Hynix’s HBM production ramp, TSMC’s record earnings, Japan’s Takaichi-driven fiscal expansion, Singapore’s AI-centered budget, and India’s emergence as the region’s fastest-growing…
The regulatory developments of Q1 2026 defied every major forecast published at the start of the year. Consensus outlooks anticipated incremental tightening of semiconductor export controls, gradual implementation of corporate governance reforms in Korea, continued BOJ normalization, and the adoption of China’s 15th Five-Year Plan. All of these occurred. None of them proved to be…
Asian equity markets opened the final week of March with broad declines as the U.S.-Israeli conflict with Iran entered its fifth week without a ceasefire or a credible pathway to reopening the Strait of Hormuz. The KOSPI led regional losses, tracking a Wall Street technology sell-off that reflected growing concern about the war’s economic impact….
Brent crude closed at $103.14 per barrel on Friday, its highest settlement since 2022, as the Strait of Hormuz remained effectively shut to commercial shipping for a fourth consecutive week. The oil price trajectory has accelerated in the final days of March, driven by Iran’s March 18 strike on Qatar’s Ras Laffan LNG complex, which…
Brent crude closed at $103.14 per barrel on Friday, its highest settlement since 2022, after diplomatic efforts to secure a ceasefire or a framework for reopening the Strait of Hormuz failed to produce results. The IRGC reaffirmed its declaration that the strait was closed, and Brent surged to $114 after Trump’s 48-hour ultimatum expired without…
Iran has established a shipping channel north of Larak Island through which vessels can transit the Strait of Hormuz under supervision of the Islamic Revolutionary Guards Corps, with payments assessed in Chinese yuan. At least one vessel has paid $2 million for passage, and Malaysia has reported that Iran allowed its ships to pass through…
China’s National People’s Congress formally approved the 15th Five-Year Plan on March 12, completing an eight-day session that set the policy framework for the country’s economic and industrial development through 2030. The plan, which WilmerHale described as making the 2026 Two Sessions “particularly important for business audiences,” codifies Beijing’s commitment to technological self-reliance, high-quality growth,…
China’s 15th Five-Year Plan, formally approved on March 12, sets technology targets that include raising R&D spending growth to at least 7% annually, expanding the core digital economy to 12.5% of GDP by 2030, and building self-sufficient capacity in AI, quantum computing, biomanufacturing, aerospace, and new energy. These headline targets are ambitious but not surprising:…
President Trump’s 48-hour ultimatum threatening to destroy Iran‘s power infrastructure if the Strait of Hormuz is not reopened has focused attention on the military technology options available to U.S. forces in the region. The U.S. has deployed thousands of additional troops, carrier strike groups, and mine countermeasure assets to the Persian Gulf. The hardware is…
South Korea is considering implementing an oil price cap for the first time in nearly 30 years, invoking Article 23 of the Petroleum and Alternative Fuel Business Act, which authorizes the government to set maximum retail fuel prices during periods of sharp market fluctuation. The provision, last activated during the oil price spikes of the…
