Market UpdatesApr 06, 20262 Min

Global market wrap: Nikkei, Kospi rise on report of Iran ceasefire talks, many markets shut for Easter

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

Japanese and South Korean stocks rose on Monday, while several other major Asian markets remained closed for holidays, as investors kept a close eye on developments in the Middle East.

On Sunday, April 5, US President Donald Trump issued a fresh threat against Iran. He warned that American forces could target the country’s power plants and civilian infrastructure starting Tuesday, April 7, if Tehran did not fully reopen the Strait of Hormuz. The critical oil chokepoint carrying about one-fifth of the world’s oil has been shut following the outbreak of the war on February 28. In an expletive-laden social media post, Trump vowed to bring “hell” to Iran.

Investors, however, found some reassurance after Axios reported that the United States, Iran and a group of regional mediators are discussing terms for a possible 45‑day ceasefire that could pave the way for a lasting end to the war, citing multiple U.S., Israeli and regional sources familiar with the talks.

Japan’s Nikkei 225 rose 0.8% to 53,560, while South Korea’s blue-chip Kospi gained 1.0% to 5,435. Many other Asian markets were closed on Monday for holidays, as Australia, New Zealand and Hong Kong observed Easter.

Stock futures on Wall Street mixed as investors continued to eye developments in the US-Iran war. S&P 500 futures down 0.11% at 6,615, while futures tied to the Dow Jones Industrial Average also declined 0.2% to 46,605. Nasdaq 100 futures, meanwhile, gained 0.02% to 24,223.

Oil prices climbed on Monday, with US crude up 0.63% to $112.23 per barrel and Brent rising 1.21% to $110.35. The rise came after Trump gave Iran a Tuesday deadline to reopen the Strait of Hormuz.

Meanwhile, eight members of the Organization of the Petroleum Exporting Countries (OPEC) and allies boosted their production quotas for May by 206,000 barrels per day. The move, however, was largely symbolic, as the ongoing war has disrupted shipments from several members.

Gold prices were also mixed on Monday, weighed down by a stronger dollar. Spot gold slipped 0.3% to $4,658.14 per ounce, while US gold futures for June delivery had gained 0.13% to $4,685.20. Spot silver dropped 0.88% to $72.37 per ounce.

Dubai gold prices opened the week lower, following a pullback in global bullion markets as geopolitical signals turned mixed and investors reassessed risk.

Earlier in the day, 24K gold was trading at Dh560.50 per gram, down from Dh563.50 on Sunday, while 22K gold slipped to Dh519 from Dh521.75, offering a modest relief for retail buyers. The decline comes after a volatile run in March that had pushed prices sharply higher before momentum began to fade.

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

Citigroup delays Fed rate-cut timeline after strong jobs report

Citigroup has pushed back its expected timeline for Federal Reserve rate cuts, citing stronger-than-expected U.S. job growth and ongoing inflation risks. The Wall Street firm now expects a total of 75 basis points in rate cuts to come in September, October and December, instead of June, July and September, according to a note dated April 3.

US job growth rebounded in March, helped by the end of a healthcare workers’ strike and warmer weather. Still, Citigroup warns that risks to the labour market are rising amid the ongoing conflict with Iran. Weak hiring later in the year could push the unemployment rate higher, the note said, similar to patterns seen in recent years.

Britain eyes Anthropic expansion amid US defence dispute

Britain is reportedly looking to encourage AI company Anthropic to expand its presence in the country, seeking to take advantage of tensions between the US Defense Department and the maker of AI chatbot Claude. Proposals being considered include a London office expansion and a potential dual stock listing, according to sources familiar with the plans.

UK Prime Minister Keir Starmer’s office has backed the initiative, which will be discussed with Anthropic CEO Dario Amodei. The move follows the US government blacklisting Anthropic as a national-security supply-chain risk after the company refused to let the military use Claude for surveillance or autonomous weapons.

Paramount in talks for Gulf backing in Warner Bros Discovery takeover

Paramount Skydance is reportedly in talks to secure nearly $24-billion in signed equity commitments from three sovereign wealth funds led by Saudi Arabia to support its planned takeover of Warner Bros Discovery. The merger would bring together major studios and networks, including CNN and CBS, allowing the combined company to compete more effectively as streaming continues to pull audiences from traditional TV.

Saudi Arabia’s Public Investment Fund is expected to provide about $10 billion. Other likely backers include the Qatar Investment Authority and Abu Dhabi’s L’imad Holding.

Singapore’s 30 largest stocks gain 5% in Q1 but volatility rises amid Iran war

Singapore equities started 2026 on a strong note, buoyed by local market reforms, but have become more volatile as the war in Iran casts uncertainty over the outlook.

The Straits Times Index (STI) climbed 5.1% in the first quarter to 4,885.45 points, with dividends pushing total returns to 5.6%, according to Singapore Exchange (SGX) data. Among the top performers with market capitalisations over $10 billion were ST Engineering, Wilmar, SGX, Hongkong Land, Keppel, OCBC Bank, and Sembcorp.

Bank of Japan flags economic risks from Middle East war

The Bank of Japan warned that rising oil prices and supply disruptions caused by the Middle East war could weigh on the economy. In its quarterly report, the BOJ said firms in several regions are already feeling pressure from higher input costs and raw material shortages linked to the Iran war. The central bank added that supply disruptions could widen, cautioning that the war may hurt regional economies depending on how the situation unfolds.