Market UpdatesMay 18, 20262 min

Global Market Wrap: Asian Stocks Slip Amid Middle East Tensions, Oil Rises, Gold Mixed

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

Asia-Pacific markets mostly slipped on Monday after US President Donald Trump warned Iran to “get moving, fast,” triggering concerns over rising tensions in the Middle East and the impact on global oil supplies.

South Korea’s Kospi traded mixed 7,500, while Japan’s Nikkei 225 slid 0.7% to 60,973. Hong Kong’s Hang Seng Index dropped 1.3% to 25,613, and Singapore’s Straits Times Index slipped 0.5% to 4,966. In Australia, the S&P/ASX 200 declined 1.4% to 8,511.

Wall Street ended lower on Friday, with the S&P 500 slipping 1.2% to 7,408, while the Nasdaq Composite was 1.5% down at 26,225. The Dow Jones Industrial Average dropped by 1% to close at 49,526.

Oil prices rose, with Brent crude futures climbing 1.9% to $111 a barrel. US West Texas Intermediate crude futures advanced 2.2% to $108 per barrel.

Gold prices were mixed, with spot gold being marginally higher by 0.01% at $4,538 per ounce. US gold futures for June delivery fell 0.5% to $4,541, while spot silver slipped 0.7% to $75 per ounce.

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

Samsung Stock Rises Over 5% After Seoul Steps Into Union Talks

Shares of Samsung Electronics rose more than 5% on Monday after South Korea’s government stepped in to help prevent a strike at the company’s memory chip operations. Samsung shares climbed 5.2% to 284,500 won. Samsung and its South Korean labour union began a fresh round of talks on Monday.

Tesla Raises Prices Of Model Y Cars In US By $1,000

Tesla has increased the prices of its Model Y vehicles in the US for the first time in two years. The EC-maker increased prices of the Model Y Premium All-Wheel Drive and Model Y Premium Rear-Wheel Drive by $1,000 each to $49,990 and $45,990, respectively.

BlackRock Weighs Up To $10-Billion Investment In SpaceX IPO

BlackRock is reportedly considering investing between $5 billion and $10 billion in SpaceX’s IPO. SpaceX is targeting a raise of about $75 billion at a valuation of around $1.75 trillion.

Shein To Acquire US Apparel Retailer Everlane: Report

Online fast-fashion platform Shein is reportedly acquiring US-based apparel retailer Everlane from majority owner L Catterton in a deal valuing the company at about $100 million. Holders of common stock in Everlane will not receive a payout from the transaction.

Singapore Exports Surge 24.5% In April, Beating Forecasts

Singapore’s non-oil domestic exports rose 24.5% in April from a year earlier, marking an eighth straight month of growth. The increase followed a 15.3% rise in March and was above the 11.6% growth forecast by analysts in a Bloomberg poll.

Japan Eyes Additional Bond Issuance Amid Middle East War Impact

Japan’s government is likely to issue fresh debt to help fund a planned extra budget aimed at cushioning the economic impact of the Iran war. Any additional debt issuance could further strain Japan’s already weak finances.

Australia Orders Sale Of Stakes In China-Linked Northern Minerals

Australian treasurer Jim Chalmers said six shareholders have been ordered to sell their stakes in Northern Minerals over concerns about Chinese influence in the company. Northern Minerals is developing a heavy rare earths project in Western Australia.