Asian stocks mixed, gold flat ahead of US Fed’s interest rate decision

We are back with quick updates on global stock and commodity markets and key corporate developments that you shouldn’t miss.

Global stock and commodity markets on Wednesday remained cautious as investors awaited the US Federal Reserve’s decision on interest rates.

Asian stocks traded mixed, posting small changes from their previous close as investors broadly expected the Fed to hold interest rates. Notably, this is the first Federal Reserve policy decision under new US Fed chairman Kevin Warsh. The rate announcement is due at 1800 GMT on Wednesday.

China’s Shanghai Composite index inched down 0.4% to 4,108, while South Korea’s Kospi rose 1.5% to 8,864. Japan’s Nikkei 225 gained 0.7% to 69,902. On the other hand, Hong Kong’s Hang Seng fell 0.7% to 24,315.

Singapore’s Straits Times jumped 1.2% to 5,176, while Australia’s S&P/ASX 200 rose 0.5% to 8,963.

US stock futures traded with mild gains on Wednesday. S&P 500 futures rose 0.2%. Nasdaq 100 futures gained 0.4%, while futures tied to the Dow inched up 0.07%. In Tuesday’s session, the Dow Jones Industrial Average closed at a new high, hitting the 52,000-mark after gaining 0.6%. The S&P 500, however, fell 0.5%, while Nasdaq 100 declined 1.1% to 7,511 and 26,376 respectively.

Oil prices corrected for a third day after as supply concerns eased after the announcement of the US-Iran peace deal. The US crude oil futures for July delivery fell 0.7% to $75.50 per barrel by 2352 ET. Brent futures, the international benchmark, for August delivery were down 0.5% to $78.55 per barrel.

Meanwhile, gold prices on Wednesday were flat after four consecutive sessions of gains. Spot gold traded just 0.03% higher at $4,332.50 per ounce by 0349 GMT, while U.S. gold futures for ​August delivery were trading almost unchanged at $4,353 per ounce.

Here's a look at some other major developments across global markets:

Yum! Brands to sell Pizza Hut

Yum! Brands on Tuesday announced plans to sell Pizza Hut for $2.7 billion. Pizza Hut, excluding mainland China, will be acquired by private equity firm LongRange Capital for roughly $1.5 billion, while Pizza Hut in mainland China will be taken over by Yum China Holdings, Inc. for approximately $1.2 billion.

CEO Chris Turner said selling Pizza Hut will allow the company to concentrate its resources on its largest growth opportunities -- Taco Bell and KFC.

Databricks sales growth exceeds 80%

US software company Databricks announced that its annualized revenue jumped over 80% from a year earlier in the fiscal fourth quarter and now stands at $6.9 billion. Revenue soared on strong demand for the company’s data analytics tools. But Databricks said that it was also dealing with higher costs, leading to lower margins, as clients relied on more AI agents to clean up data and ask questions

Intel starts producing its most-advanced chip

Intel has begun the production of its most-advanced chip node, 18A-P, which is seen bringing it one step closer to a possible deal to make some chips for Apple devices. Intel has touted 18A as key to a turnaround that would finally convert the company into a competitive chip manufacturer for non-Intel products.

SpaceX to acquire AI coding startup Cursor for $60 billion

Elon Musk’s SpaceX on Tuesday announced that it will acquire artificial intelligence (AI) startup Cursor for $60 billion worth of stock. The announcement comes just days after the company’s blockbuster debut on the Nasdaq in the biggest IPO ever.

Japan’s May exports grow at fastest pace in over three years

Japan’s exports in May grew 17% year-on-year driven by robust demand for cars and semiconductors. This is the fastest pace of growth in exports since November 2022. The country’s exports of semiconductors surged 61.2% in May from a year earlier in terms of value, while shipments of cars jumped 16.4%.

Hong Kong residents’ income rises 5.1% in Q1

Hong Kong’s gross national income rose 5.1% in the first quarter of 2026 over a year earlier to HK$925.7 billion at current market prices. The gross domestic product, estimated at HK$843.9 billion at current market prices in the same quarter, saw a 5.3% rise year-on-year.

Singapore's May exports rise by 38.4%

Singapore’s non-oil domestic exports expanded by 38.4% in May compared with a year earlier as strong AI-related demand continued to drive momentum. This is seen as the biggest jump in Singapore’s exports since December 2003.