Good evening, you're listening to Markets Desk.
Defense tech is flashing warning signs tonight. Private equity poured four billion dollars into defense growth investments in the first nine months of two thousand twenty six, up from just five hundred million in two thousand twenty four. That eight-fold surge is drawing serious bubble comparisons from analysts watching valuations stretch well beyond fundamentals.
Shifting to real estate capital flows, OUE REIT — backed by Indonesian tycoon Mochtar Riady — has moved to acquire an additional fifty percent stake in Sydney's Salesforce Tower, the tallest skyscraper in Australia, in a deal valued at six hundred and seven million dollars. The move signals continued offshore appetite for premium commercial assets in gateway Pacific cities despite broader office market headwinds.
And in the obesity drug race, Chinese biotech Ascletis Pharma has submitted an Investigational New Drug application to the FDA for ASC thirty-nine, an oral small-molecule amylin receptor agonist targeting obesity. This puts Ascletis in direct competition with the injectable GLP-one giants, and a successful IND clearance would mark a meaningful step toward an all-oral alternative in one of the most competitive therapeutic markets on the planet.
That's the tape. Markets Desk, signing off the floor.
