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Weekly Market Insights (17 - 24 July 2026)

  • Jul 27
  • 3 min read

Global Markets

Global markets delivered mixed results, with stronger performances in Europe and Asia offset by weakness in the United States and Australia as investors assessed earnings, inflation risks, and the prospect of higher interest rates for longer.


  • Equities:

    • US markets declined, led by weakness in technology and growth stocks amid concerns over AI-related spending, higher bond yields, and expectations of prolonged restrictive monetary policy.

    • European markets advanced, supported by strong corporate earnings, improving economic data, and gains across technology, financials, and industrials.

    • Asian markets posted gains, with Hong Kong and Japan benefiting from strength in technology and semiconductor stocks as well as supportive policy expectations.

    • Australian equities edged lower, weighed down by concerns over global trade, tighter monetary policy prospects, and weakness across technology, healthcare, and mining sectors.

  • Bonds:

    • US, UK, and Australian bond yields rose, reflecting higher energy prices, persistent inflation concerns, and expectations that interest rates may remain elevated.

    • Chinese yields declined, supported by expectations of further economic stimulus and accommodative policy settings.

  • Currencies:

    • The US dollar strengthened, supported by resilient economic data, inflation concerns, and expectations of higher rates.

    • The euro and Australian dollar weakened against the stronger greenback.

    • The Chinese yuan remained relatively stable, supported by ongoing policy measures and stimulus expectations.


Commodities

Commodity markets were mixed, with metals and energy performing better than agricultural commodities.

  • Gold and copper gained, supported by safe-haven demand, tightening supply conditions, and concerns about disruptions in key producing regions.

  • Crude oil surged 9.2%, driven by supply security concerns, shipping disruptions, and renewed US-Iran tensions.

  • Coal also recorded gains, supported by supply disruptions and strong energy demand.

  • Natural gas weakened, reflecting comfortable inventories and improving supply conditions.

  • Coffee and cocoa declined, as improved production prospects and supply expectations weighed on prices.


PNG Local Market

PNG’s market remained strong and orderly, with trading activity concentrated primarily in BSP and PLC.

  • Stock Market:

    • Total turnover reached approximately K17.31 million from 4.73 million shares traded.

    • BSP and PLC dominated activity, accounting for most trading value and volume.

    • Share prices were generally positive:

      • BSP was the strongest performer, rising 0.71% to K28.20.

      • CCP (+0.22%) and KSL (+0.21%) recorded modest gains.

      • NGP and PLC were unchanged.

      • No traded securities recorded losses during the week.

    • Market turnover remained concentrated in a small number of stocks despite broad stability across share prices.

  • Corporate Updates:

    • Santos reported strong Q2 2026 results, increasing production by 3% and revenue by 6%, supported by PNG operations and new projects.

    • Newmont reported production of 1.3 million ounces of gold and record free cash flow of US$2.2 billion, supported by strong gold prices.


Treasury Bills

The Treasury Bill market remained stable, despite a modest withdrawal of liquidity from the financial system.

  • The Government issued K270 million in Treasury Bills against K201.7 million in maturities, resulting in a net liquidity absorption of K68.3 million.

  • Yields increased slightly across maturities:

    • 182-day: 4.86% (+0.01%)

    • 273-day: 5.04% (+0.05%)

    • 364-day: 5.03% (+0.02%)

  • The 364-day tenor continued to dominate issuance, reflecting the Government’s preference for longer-term funding.

  • Stable participation and only modest yield increases indicate continued investor confidence in government securities.


Overall Takeaway

Global markets were influenced by higher interest-rate expectations, rising bond yields, and energy-driven inflation concerns, resulting in a mixed performance across equities, currencies, and commodities. In PNG, equity trading remained robust and concentrated in BSP and PLC, while Treasury Bill auctions continued to attract strong demand despite modest increases in yields and a net withdrawal of liquidity from the market.

For a detailed breakdown of market performance, economic data, and treasury auction results, download the complete report.


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