Market UpdatesApr 10, 20262 Min

Global Market Wrap: Asia Stocks Mixed Amid Us-Iran Ceasefire Doubts, Oil Rises, Gold Dips

We are back with quick updates about global stock markets and major developments across some of the top companies worldwide.

Asia-Pacific markets were mostly higher on Friday, but investors stayed cautious due to a fragile two-week US-Iran ceasefire and volatile oil prices. The war, now in its second month, has kept traffic through the Strait of Hormuz largely restricted, even after the ceasefire.

South Korea’s Kospi rose 1.6% to 5875, while Japan’s Nikkei 225 slipped 1.94% to 56,980. Japanese Prime Minister Sanae Takaichi said the country plans to release about 20 days’ worth of oil reserves starting in May, according to Reuters. Japan had around 230 days of oil reserves as of April 6.

Hong Kong’s Hang Seng Index gained 0.8% to 25,967, Singapore’s Straits Times Index was up 0.1% at 4,983, while Australia’s S&P/ASX 200 fell 0.3% to 8,942.

US stocks closed higher overnight as talks continued around a possible peaceful end to the six-week Middle East conflict. The S&P 500 rose 0.6% to 6,824, while the Nasdaq gained 0.8% to 22,822. The Dow Jones added 0.5% to 48,185.

Oil prices rose on Friday as tensions around the Strait of Hormuz persisted, with the shipping route still largely closed despite the US-Iran ceasefire. West Texas Intermediate (WTI) crude for May 0.4% to $98.29 per barrel, while Brent crude gained 0.89% to $96.77 per barrel.

Gold dipped slightly due to a stronger dollar and uncertainty over the US-Iran ceasefire, but stayed on track for a third straight weekly gain. Spot gold fell 0.3% to $4,748 per ounce, though it is still up 1.8% this week. Spot silver fell 0.5% to $75.24 per ounce.

Here’s a look at some of the important developments across the global markets:

Anthropic explores building its own AI Chips Amid Global Supply Pressure

Anthropic is reportedly exploring the possibility of designing its own artificial intelligence chips as demand for computing power continues to rise across the industry. The plan is still at an early stage. The company has not committed to a final decision and may continue relying on externally bought chips instead of developing its own. The news comes as demand for its AI model Claude has grown sharply in 2026. The company recently said its annualised revenue has climbed to more than $30 billion, up from about $9 billion at the end of 2025.

Amazon says AI revenue run rate surpasses $15 billion

Amazon’s artificial intelligence business is generating more than $15 billion in annualised revenue, according to Chief Executive Officer Andy Jassy. The update comes as the company steps up spending on AI, with capital expenditure expected to reach $200 billion this year. The scale of investment had raised concerns among investors, but the rising AI revenue offers some reassurance about returns. Jassy said the company is prepared to absorb short-term pressure on cash flow as it invests in what he described as a major long-term growth opportunity.

OpenAI launches $100 ChatGPT Pro plan to compete with Anthropic

OpenAI has launched a new $100-per-month ChatGPT Pro subscription that increases usage limits for its Codex coding assistant. The company said the new tier offers five times more Codex usage than its $20 Plus plan and is aimed at users running longer or more intensive coding sessions. The move comes as OpenAI competes with Anthropic, whose Claude Code tool has seen growing popularity. With the latest addition, ChatGPT now has five subscription tiers for personal users, including Free, Go, Plus, and two Pro levels. OpenAI also continues to offer a separate $200 Pro plan.

Meta deepens partnership with CoreWeave to boost AI compute capacity

Meta Platforms has expanded its partnership with CoreWeave through a new $21-billion deal for additional cloud computing capacity. The agreement runs through December 2032 and builds on a previous $14.2 billion deal signed in September, according to CoreWeave. As part of the arrangement, Meta will get access to early deployments of Nvidia’s next-generation Vera Rubin chips, which are expected to deliver higher performance than the current Blackwell platform. Meta has been increasing its computing resources to support the development of its large language models as it works to keep pace in the AI sector.

Tesla’s low-cost EV may boost sales but put pressure on margins: Report

Tesla’s plan to develop a lower-cost electric vehicle could help lift sales volumes but may further pressure already tight profit margins, according to investors. The company is already facing competition, especially in China, where cheaper local rivals are gaining market share. The new model is expected to be produced first in that region. Signs of softer demand are already emerging. In the latest quarter, Tesla produced more than 50,000 vehicles more than it delivered, the widest gap in about four years. The situation has also been affected by the end of the $7,500 U.S. federal EV tax credit, which previously supported demand.

US labour market holds up despite rising inflation and Iran war risks

New applications for US unemployment benefits rose slightly last week, suggesting the labour market remains steady despite wider economic uncertainty. Separate data showed inflation increased at its fastest pace in 12 months in February, while economic growth slowed sharply in the fourth quarter. Economists expect price pressures to have risen further in March, driven by higher energy costs linked to the ongoing war involving Iran. Though a ceasefire was announced, concerns remain over its stability. This adds to uncertainty for businesses already dealing with shifting trade and policy conditions.

Paramount secures debt financing for Warner Bros Discovery deal

Paramount Skydance has secured bank commitments and syndicated its bridge loan facility to support its planned $111-billion acquisition of Warner Bros Discovery. In a filing with the US Securities and Exchange Commission, the company said the bridge loan was distributed among 18 banks, reducing total debt commitments to $49 billion from $54 billion earlier. The company also arranged permanent financing that includes a $5 billion term loan and a $5 billion revolving credit facility.

Alibaba leads $290-million investment in AI video startup ShengShu

Alibaba Cloud has led a 2 billion yuan ($290 million) investment in ShengShu, the startup behind AI video tool Vidu. The round also included participation from TAL Education and Baidu Ventures. The investment reflects growing interest in “world models,” a new approach to AI that focuses on understanding real-world environments using video and physical data, rather than just text. The shift comes as developers look beyond large language models that power chatbots like ChatGPT, towards systems seen as more relevant for robotics and real-world simulation.

Japan says private credit does not pose major domestic risk for now

Japan’s Finance Minister Satsuki Katayama said private credit does not currently pose a major domestic risk. She said Japan’s exposure to the roughly $2-trillion private credit market is limited, though not absent. Katayama added that she is being regularly briefed on developments by the financial regulator as it reviews exposure at major financial institutions.