Market UpdatesMay 13, 20262 Min

Global Market Wrap: Asia-Pacific Markets Trade Mixed, Wall Street Slips While Oil And Gold Prices Fall

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

Markets in the Asia-Pacific region traded mixed on Wednesday amid concerns about rising oil prices, ongoing Middle East tensions and stronger-than-expected inflation figures for April.

South Korea’s Kospi recovered from early losses at the start of the session and gained 2.6% to 7,884, while Japan’s Nikkei 225 added 0.8% to 63,271. In Australia, the S&P/ASX 200 slipped 0.4% to 8,630. Meanwhile, Hong Kong’s Hang Seng Index was 0.1% higher at 26,388, and Singapore’s Straits Times Index gained 1.1% to 5003.

During Tuesday’s trading session, the S&P 500 and Nasdaq Composite retreated from their record highs. The S&P 500 fell 0.16% to 7,400, while the tech-focused Nasdaq Composite declined 0.7% to 26,088. In contrast, the Dow Jones Industrial Average ended 0.1% higher at 49,760.

Oil prices declined on Wednesday after climbing for three straight sessions. West Texas Intermediate futures for June dropped 1.2% to $101 per barrel, while Brent Crude futures for July fell 1.2% to $106 per barrel.

Gold prices edged lower on Wednesday, with spot gold slipping 0.3% to $4,698 per ounce. Meanwhile, US gold futures for June delivery rose 0.4% to $4,706. Spot silver also moved higher, gaining 0.1% to $87 per ounce.

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

SpaceX Plans More Spaceports As Starship Launch Ambitions Grow

SpaceX is exploring possible locations in the US and abroad to build new spaceports, Elon Musk said in a post on X. The move comes as the company prepares for a future where its Starship rocket could launch thousands of times annually. Unlike traditional rockets, Starship is designed to be fully reusable with very little refurbishment between flights.

Jensen Huang Joins Donald Trump On China Visit Amid Nvidia Chip Focus

Nvidia CEO Jensen Huang has joined many US business leaders accompanying Donald Trump on his China visit this week. Nvidia’s H200 chips had not yet been sold in China due to approval-related issues. Huang’s inclusion in the trip has raised speculation that the chips could be discussed during the trip.

Meta Offers Rivals Free WhatsApp Access Amid EU Antitrust Scrutiny

Meta Platforms has offered rival AI chatbots free access to WhatsApp for a month as it works to address EU antitrust concerns. The move comes after the European Commission signalled last month that it was considering ordering Meta to allow competing AI chatbots access to WhatsApp. Meta’s proposal could help the company avoid a major fine from EU regulators.

Tesla To Boost Berlin Battery Plant Investment By $250 Million

Tesla will invest nearly $250 million more into battery cell production at its plant near Berlin to expand capacity. The move follows its December 2025 announcement of nearly 1 billion euros ($1.2 billion) in investments for the Gruenheide facility as part of plans to combine battery and vehicle production at one site.

Genting Singapore Adds New Attractions Amid Travel Slowdown

Genting Singapore is rolling out new attractions and promotions at Resorts World Sentosa as rising costs and weaker travel demand linked to the Middle East conflict weigh on earnings. The company said higher energy, freight and airfare costs have impacted tourist spending and visitor numbers.

Canada To Invest $2 Million In Philippines Economic Hub

Canada will invest $2 million in an economic hub project in the Philippines supported by the United States and Japan. The investment will support a future project linked to the Luzon Economic Corridor, a major manufacturing region on the Philippines’ largest island.