Global equity markets rallied strongly in the week ending 8 May 2026, with technology and semiconductors at the centre of the advance. AI infrastructure spending commitments from major hyperscalers fired up chip stocks across the US and North Asia, while cybersecurity names surged on standout earnings. Geopolitical relief around the Strait of Hormuz and a resilient US labour market reinforced the risk-on tone. This weekly strategy note covers key drivers across US, European, and Asian equity markets

Global equity markets recorded their strongest weekly performance in months as driven by geopolitical de-escalation bolstered investor sentiment.

The Iran conflict and resulting oil shock completely reshaped markets last week, driving a broad risk off move, sharply higher energy prices, and heightened caution across cyclicals.

The week was shortened by holidays (US Presidents’ Day and Lunar New Year in Asia) which resulted in thinner liquidity and heightened volatility. It opened under the shadow of softer macro data and hawkish Fed signals but ended on a strong note following the US Supreme Court’s landmark ruling on tariffs.

The week from 6 to 13 February 2026 saw U.S. tech drag global equities lower, as renewed pressure on mega-cap names weighed on sentiment and lifted volatility. In contrast, Asian equities outperformed, supported by strong gains in Japan, Korea, and Taiwan.

The week of 23-30 January 2026 was marked by sharp moves in Big Tech, ongoing outperformance of non-US equities and record high prices of gold and silver

The trading week spanning 16-23 January 2026 was defined by extraordinary volatility as global markets grappled with a high-stakes diplomatic standoff over Greenland.

International stock market indices outperformed the US market during the week of 9-16 January. Geopolitical tensions continued to impact the sentiment, as the earnings season began with key banks reporting in the US and TSMC in Asia.

Flash note