Asia Market Movers: OpenAI targets $100bn in ad revenue by end of decade, Semafor reports

Tuesday, 23 Jun, 2026 Stock market update OpenAI targets $100bn in ad revenue by end of decade, Semafor reports A $100 billion advertising target by 2030 puts OpenAI in direct competition with the established revenue models of Alphabet and Meta, both of which derive the bulk of their income from query and socia News Japan PMI hits three-month high but input costs surge to near four-year peak Japanese S&P Global PMI Flash (June) Manufacturing PMI 54.9 expected 54.5, prior 54.5 Services 51.8 prior 50.0 Composite 52.50 prior 51.1 The input cost reading is the most market-sensitive elemen Learn more Central Banks PBOC is expected to set the USD/CNY reference rate at 6.7762 – Reuters estimate The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exch Stock market update AI, fiscal spending and credit growth to drive markets higher, UBS says The $820 billion AI capex forecast for 2026, rising to roughly $990 billion in 2027, is the single most consequential number for semiconductor and infrastructure plays in this note, and UBS explicitly Commodities Standard Chartered sees gold at $5,100 and S&P at 7,950 by mid-2027 The $5,100 gold target is the most striking single number in the outlook and, set against a mid-2027 timeframe, implies meaningful further upside from current levels; the bank's characterisation of go News Australian business activity steadies in June but new orders keep falling, S&P Global says The near-stabilisation of the composite at 49.8 is unlikely to shift RBA expectations materially on its own, but the confidence reading is a red flag: sentiment at its weakest since the pandemic outsi Stock market update Liquidity squeeze, not rate hikes, is the near-term threat to stocks, says Morgan Stanley Wilson's liquidity warning is the most actionable element for traders: with the Reserve Management Program down roughly 75% from its peak and Treasury buybacks cut by half, the balance sheet tailwind Commodities Danske Bank sees Brent at $80 this year, rules out return to pre-war lows Danske's floor call is the most market-relevant element here: by explicitly ruling out a return to the $60-$70 pre-war range, the bank is signalling that the structural supply backdrop has been perman Learn more Forex Japan finance minister held emergency call with Bessent as yen nears 40-year low USD/JPY is acutely sensitive to any official confirmation of these talks, with the yen already within a whisker of levels that triggered record intervention earlier this year. A break above 161.96 wou

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