Asia Market Movers: SpaceX targets $75bn IPO at $135 a share as Nasdaq roadshow nears

Wednesday, 03 Jun, 2026 Stocks SpaceX targets $75bn IPO at $135 a share as Nasdaq roadshow nears SpaceX plans to raise $75bn (Reuters cite an unnamed source) in its IPO by selling 555.6 million shares at $135 each, implying a $1.75 trillion valuation; the roadshow begins Thursday, a source told R News Japan services PMI flatlines in May as war costs hit record high Japan's services PMI flatlined at 50.0 in May as business costs surged to a 43-month high on Middle East war disruption, ending 13 months of sector expansion. Summary: Source: S&P Global Japan Ser Learn more News Japan approves $19bn supplementary budget to offset Trump war Middle East inflation Japan's cabinet approved a ¥3.1 trillion supplementary budget funded by deficit bonds to subsidise fuel and utility costs, with a ¥2.5 trillion reserve targeting gasoline prices first. Summary: Japan' Central Banks PBOC is expected to set the USD/CNY reference rate at 6.7673 – 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 Forex USD/JPY hits 160, Japan fin min jumps in with open mouth operations Amid the chaos unfolding in the Middle East right now Chaos descending on Middle East - air attacks on Saudi Arabia, Dubai now being reported US and partners intercept Iranian missiles and drones acro Commodities US and partners intercept Iranian missiles and drones across Gulf US and partner forces intercepted all Iranian ballistic missiles fired at Kuwait and Bahrain on June 2 and struck a military ground station on Qeshm Island in self-defense; no US personnel were harmed Commodities Chaos descending on Middle East - air attacks on Saudi Arabia, Dubai now being reported Kuwait , Bahrain, Iraq all attacked, now Saudi Arabia and Dubai. This is a dramatic escalation that takes the conflict well beyond the Hormuz shipping lane and into the heart of Gulf energy infrastruc News Australia services PMI slips to 48.7 as Middle East war hammers demand Australia's services PMI fell to 48.7 in May from 50.7, with new orders contracting at the fastest pace in two and a half years and employment falling for the first time since late 2024. Summary: Sour Learn more News New Zealand Q1 terms of trade fell, April building permits rose New Zealand data Terms of Trade Index Q1 -2.0% q/q expected -1.2%, prior 3.7% Export Prices Q1 -2.7% q/q expected -1.1%, prior 5.3% Import Prices Q1 -0.7% q/q expected +0.3%, prior 1.5% Building Permi

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