This week’s general top stock market highlights
This week has seen significant developments in U.S. dealmaking and regional economics.
Notably, two large acquisitions are reshaping the media and restaurant sectors in the U.S., while a ceasefire between the U.S. and Iran has led to a drop in oil prices and the reopening of critical shipping routes.
Meanwhile, Bank Indonesia has intensified its efforts to defend the rupiah, raising interest rates again in just over a week—a move that could affect currency stability throughout Southeast Asia.
Fox buys Roku in $22 billion deal
Fox Co., Ltd. has reached an agreement to purchase connected TV service Roku for $160 per share, making the deal worth around $22 billion.
This acquisition merges Fox’s sports, news, and entertainment content, along with its Tubi streaming service, with Roku’s platform and its extensive data on over 100 million streaming households globally.
CEO Lachlan Murdoch hailed this acquisition as pivotal, positioning the new company as the third-largest television entity in the U.S. by audience share. To finance this, Fox plans to take on $8 billion in new debt.
Once finalized, Fox shareholders will own 73% of the new entity, while Roku shareholders will hold 27%. The deal is expected to complete in the first half of 2027 and aims to achieve about $400 million in cost savings.
Yum Brands sells Pizza Hut for $2.7 billion
Yum Brands has announced the sale of Pizza Hut for $2.7 billion, marking the end of a challenging era for the chain.
A substantial portion of the business will be sold to private equity firm Long Range Capital for roughly $1.5 billion, excluding the Pizza Hut stores in mainland China. Yum China will be sold separately for around $1.2 billion.
The sale comes after Pizza Hut experienced significant market share declines, especially to rivals like Domino’s, which has been gaining ground consistently. Back in November 2025, Yum indicated that it might explore strategic options for Pizza Hut.
This transaction allows Yum to streamline its portfolio, focusing more on its stronger-performing brands like KFC and Taco Bell. For investors, this marks a decisive exit from underperforming assets.
Strait of Hormuz reopens due to US-Iran ceasefire, oil falls
Crude oil prices have seen a shift following a temporary peace agreement between the United States and Iran, which has reopened the Strait of Hormuz for tanker passage—vital for resuming shipments that had been halted due to the conflict.
West Texas Intermediate dipped below $74 before settling above $76, while global benchmark Brent experienced a slight rise, ending around $80 per barrel. Before the war, this strait was a key route for about 20% of the world’s energy supply.
Asian refiners seem well-stocked, possibly exerting further downward pressure on oil prices, which have already decreased about 38% since reaching a four-month high in April.
However, experts caution that there’s no certainty of a return to the situation prior to the outbreak of conflict. Goldman Sachs anticipates that Persian Gulf exports might stabilize by the end of July, but volumes through Hormuz may only reach about 70% of pre-war levels.
Bank Indonesia raises interest rates to protect rupiah
Bank Indonesia has ramped up its defensive measures for the rupiah, announcing a second rate increase of 25 basis points within eight days, bringing the base interest rate to 5.75% as of June 18, 2026.
In addition, deposit interest rates and lending facility rates were raised to 4.75% and 6.5%, respectively. Governor Perry Warjiyo indicated that this was a preemptive measure aimed at supporting currency stability and keeping inflation in check.
OCBC Group Research suggests that by the end of 2026, a total rate hike of 100 basis points could occur, bringing rates to their highest point since 2015. Inflation has edged up to 3.08% in May, still within the bank’s target range of 1.5% to 3.5%.
Unfortunately, the rupiah remains the weakest-performing Asian emerging market this year, with MSCI and S&P sovereign reviews on the horizon. The headlines seem to paint a bleaker picture than perhaps the actual market conditions warrant.
