International News 04 February 2026
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KKR-Led Consortium Nears US$10 Billion Acquisition of STT GDC
A consortium led by KKR is reportedly close to reaching a deal to acquire Singapore-based data center operator ST Telemedia Global Data Centres (STT GDC), in a transaction valued at over S$13 billion (around US$10 billion). The deal would be one of the largest data center acquisitions in Asia. According to the Wall Street Journal, KKR is partnering with Singapore Telecommunications (Singtel), while Bloomberg reports that sovereign wealth funds GIC (Singapore) and Mubadala (Abu Dhabi) are exploring participation as minority investors. Singtel has confirmed that discussions are at an advanced stage, though no binding agreement has been finalized. KKR declined to comment, and other parties have yet to issue official statements. ST Telemedia, a Temasek Holdings subsidiary, currently owns about 82% of STT GDC, while KKR holds roughly 14% and Singtel over 4%. If completed, the transaction could result in KKR and Singtel gaining full control of the company, surpassing earlier talks reported by Reuters last November that valued a majority stake at over S$5 billion. Founded in 2014 and headquartered in Singapore, STT GDC is among the world’s fastest-growing data center platforms, operating more than 100 facilities with over 2 gigawatts of IT load across 20+ key markets, including Singapore, India, Japan, and Europe. Surging demand for digital infrastructure—driven largely by AI adoption—continues to underpin strong investor interest in the sector.
Nikkei Jumps 3% as Improved Global Sentiment Spurs Japan Stock Rally
Japan’s Nikkei 225 surged around 3% on Tuesday (Feb 3, 2026), rebounding from the previous session’s decline as selling pressure in precious metals eased and global risk sentiment improved. The Nikkei rose 3.05% to 54,261.71 as of 01:27 GMT, after closing down 1.25% a day earlier amid a sharp drop in precious metal prices. The broader Topix index also advanced strongly, gaining 2.5% to 3,624.26. Analysts noted that concerns over spillover effects from the metals sell-off faded after overnight gains in US and European equities. The rally was further supported by solid US manufacturing data, reinforcing confidence in global economic resilience. On Wall Street, the S&P 500 closed higher on Monday, led by gains in chipmakers and AI-related stocks, with the Nasdaq and Dow Jones also edging up. In Japan, tech-related stocks outperformed, with Advantest rising 4.65%, Tokyo Electron climbing nearly 4%, and Fujikura jumping 6.77%. TDK soared 11.5% after raising its full-year profit forecast, while Yamaha Motor slid 10% following a profit outlook cut. Overall market breadth was strong, with around 79% of Tokyo Stock Exchange prime-listed stocks advancing.
Thai Baht and South Korean Won Lead Asian FX Gains as Risk Sentiment Improves
The Thai baht and South Korean won posted the strongest gains among Asian currencies on Tuesday (Feb 3, 2026), amid relatively muted moves elsewhere in the region. As of 02:04 GMT, the baht strengthened 0.25% to 31.46 per US dollar, while the won rose 0.17% to 1,449.1 per dollar. The gains were supported by improved global risk sentiment following a rally in US technology stocks. Elsewhere, the Japanese yen edged up 0.10% to 155.45, the Singapore dollar gained 0.11% to 1.27, and Indonesia’s rupiah advanced 0.15% to 16,760 per dollar. In contrast, the Malaysian ringgit slipped 0.15% to 3.945, the Taiwan dollar was largely flat at 31.596, and China’s yuan inched up 0.06% to 6.94. On a year-to-date basis, however, the ringgit remains the best-performing Asian currency in 2026, up 2.81%, followed by the Singapore dollar (+1.19%) and the yen (+0.77%). The Indian rupee has seen the sharpest decline this year (-1.79%), while the won (-0.66%) and rupiah (-0.54%) are also weaker versus end-2025 levels. Market participants expect Asian FX moves to remain range-bound as investors await clearer signals on major central bank policies and global geopolitical and trade developments.