Market UpdatesMar 17, 20262 Min
Global market wrap: Asian stocks gain on US lead, oil rises amid supply concerns
Most Asian stocks rose on Tuesday as investors tracked an overnight rally on Wall Street while monitoring Middle East tensions and a busy week of central bank decisions. Oil prices also rose, as uncertainty persisted over a U.S.-backed plan to protect shipping through the Strait of Hormuz.
We are back with quick updates about global stock markets and major developments across some of the top companies worldwide.
Stocks rose in early Asian trading on Tuesday, extending gains for a second day as investors tracked a busy central bank calendar and ongoing tensions in the Middle East. Markets remained cautious as they assessed the economic impact of US President Donald Trump’s war with Iran and the possible policy response.
Technology and auto stocks advanced after Nvidia issued a strong revenue forecast for its key chips and announced partnerships with regional carmakers.
As of 11:56 a.m. GMT, Hong Kong’s Hang Seng Index was up 0.1% at 25,879. South Korea’s KOSPI rose 1.6% to 5,639, while Singapore’s Straits Times Index gained 1% to 4,919. Meanwhile, Japan’s Nikkei 225 slipped 0.2% to 56,360.
In Australia, the S&P/ASX 200 closed 0.3% higher at 8,614.
Overnight in the US, stocks rose as investors monitored developments in the Iran war and looked to recover from the previous week’s losses. The Dow Jones Industrial Average rose 0.8% to close at 46,946. The S&P 500 gained 1% to 6,699, while the Nasdaq Composite advanced 1.2% to 22,374.
Meanwhile, oil prices rose more than 2% on Tuesday, recovering some of the previous session’s losses amid supply concerns. Brent crude jumped 2.7% to $102.95 a barrel, while U.S. West Texas Intermediate gained 3.4% to $97.95 as of 11:57 GMT. The gains came as the Strait of Hormuz remained largely shut and U.S. allies pushed back against calls to deploy warships to escort tankers through the key shipping route.
To curb rising energy costs, the International Energy Agency said member countries could release more oil, in addition to the 400 million barrels already agreed to be drawn from strategic reserves.
Here’s a look at some of the important developments across the global markets:
Nvidia expects $1-trillion orders for Blackwell and Vera Rubin chips by 2027, Asian tech stocks gain
Nvidia CEO Jensen Huang said the company expects purchase orders for its Blackwell and Vera Rubin chip platforms to reach $1 trillion by 2027. Huang said this at the company’s annual developer conference on March 16. Last year, Nvidia had projections for a $500-billion revenue opportunity between the two chip technologies. Huang said demand is strong from both startups and large companies.
Following the announcement, Asian technology stocks rose. SK Hynix and Samsung Electronics, both suppliers to Nvidia, gained over 3% and 4%, respectively. Meanwhile, TSMC, which produces Nvidia’s advanced AI chips, rose around 1%.
Nvidia plans to launch Vera Rubin later this year. The company said it will deliver up to 10 times better performance per watt than its predecessor, Grace Blackwell.
Google scraps AI search feature offering amateur medical advice
Google has removed a new artificial intelligence search feature that offered users crowdsourced health advice from amateurs around the world, according to a report by The Guardian. The feature called “What People Suggest” was introduced as a way to show tips from other users. A Google spokesperson told The Guardian that the move was part of a broader simplification of its search page and not related to the feature’s quality or safety.
The development comes as Google faces increasing scrutiny over its use of AI in health-related information. In January, a Guardian report flagged misleading content in its AI Overviews, which are shown to about 2 billion users each month. Google had earlier said the AI Overviews linked to reliable sources and advised users to seek expert help. It later removed the feature for some medical queries.
Australia central bank raises rates to 4.1% as Middle East tensions fuel inflation concerns
Australia’s central bank on Tuesday raised its benchmark interest rate by 25 basis points to 4.1%, its highest level since April 2025, as inflation remains elevated. The 25 basis point hike was in line with expectations. Inflation continues to stay above the central bank’s 3% upper limit, with the war in the Middle East posing further risks to prices. The bank said uncertainty around the Middle East could add to global and domestic inflation. It added that inflation is likely to stay above target for some time, with risks tilted to the upside.
US confirms Tesla, LG Energy $4.3-billion battery plant deal
The US government confirmed that Tesla and South Korea’s LG Energy Solution have signed a deal to build a $4.3 billion lithium iron phosphate battery cell manufacturing facility in Lansing, Michigan, with production expected to begin in 2027. The US Department of the Interior said the American-made cells will power Tesla’s Megapack 3 energy storage systems produced in Houston, supporting a domestic battery supply chain. The agreement was part of deals highlighted by US President Donald Trump’s administration at the Indo-Pacific Energy Security Summit.
Hong Kong brokerage Bright Smart shares surge up to 82% as Ant Group unit advances takeover deal
Shares of Bright Smart Securities, Hong Kong’s largest retail stock brokerage, surged as much as 82% on Tuesday after an Ant Group unit completed regulatory steps to acquire the Hong Kong-listed brokerage. The stock later pared gains to trade about 70% higher, its highest level since July 2025. The transaction is expected to be completed around March 30. Once completed, it could trigger a mandatory cash offer for remaining shares not held by the Ant Group subsidiary. Bright Smart Securities has a market capitalisation of about HK$15.74 billion, according to LSEG data.
Singapore export growth slows in February amid trade uncertainty
Singapore’s exports grew at a slower pace in February, as higher energy prices, supply chain disruptions and the threat of higher US tariffs weighed on the outlook.
Non-oil domestic exports (NODX) rose 4% in February, marking a sixth straight month of growth, after a revised 9.2% increase in January, data from Enterprise Singapore showed on March 17.
Electronics exports remained strong on demand linked to artificial intelligence, while non-electronics exports fell 6.9% year-on-year after a decline in January. The drop was led by food preparations, petrochemicals and non-monetary gold.
Exports to South Korea, Taiwan and Hong Kong increased, while shipments to the United States and Indonesia declined. Non-electronics exports to the US fell 59.2% from a year ago, while electronics exports to the country rose nearly 95%.
