Asian equity markets experienced gains as the US Dollar (USD) weakened, reflecting investor caution ahead of the European Central Bank's (ECB) updated economic outlook. This shift in sentiment follows recent weak US employment and services sector data, raising concerns over the health of the world's largest economy amid ongoing trade tensions and tariff uncertainties.

UnitedHealth Group $UNH, a leading American health insurance and managed care company, experienced a significant leadership transition in May 2025. Steve Hemslie replaced Andrew Witty as CEO during a challenging period marked by the company’s first earnings decline since 2008. This downturn prompted UnitedHealth to suspend its profit forecast as it grappled with unexpectedly high expenses related to the Medicare Advantage program for seniors aged 65 and older and individuals with disabilities.

Japanese steel giant Nippon Steel $5401.T has been pursuing the acquisition of U.S. Steel $X for over a year and a half. The potential $15 billion cross-border transaction has encountered resistance from American labor unions and has undergone two national security reviews. This week, the long-simmering deal took a potentially decisive turn as former U.S. President Donald Trump is set to lead a rally in Pittsburgh, Pennsylvania, the city where U.S. Steel is headquartered.