Market UpdatesJul 01, 20262 Min
Asian stocks trade mixed as yen hits new 40-year low against dollar; oil rises, Anthropic AI Curbs Lifted
We are back with quick updates on global stock markets, commodities and companies that you shouldn’t miss.
Asian stocks were volatile on Wednesday even as US stocks remained on a solid footing. The yen hit its weakest level against the dollar since 1986 as the dollar strengthened owing to rate hike bets.
The US jobs data on Tuesday showed that job openings were at a two-year high in May, but subdued hiring weighed down consumers’ perceptions of the labour market.
Japan’s Nikkei 225 rose 0.4% on Wednesday to 70,332, while China’s Shanghai Composite index gained 0.4% to 4,112. Singapore’s Straits Times was marginally down 0.1% to 5,162.
However, South Korea’s benchmark Kospi dropped 2% to 8,303, while Australia’s S&P/ASX 200 was down 0.6% to 8,722. Hong Kong markets were closed for a holiday.
US stock futures dropped on Wednesday. S&P 500 futures and Nasdaq 100 futures fell 0.2% each, while futures tied to the Dow were down 0.4%.
During the regular session on Tuesday, the S&P 500 jumped 0.7%, the Nasdaq 100 gained 1.5% and the Dow Jones Industrial Average closed 0.2% higher to end the first half of the year 2026 on a positive note. Dow, in fact, saw the best first half in five years, rising 8.9%.
Oil prices gained on Wednesday as the supply-demand factors kicked in after Brent crude posted its biggest monthly decline in June since March 2020.
The US crude oil futures for July delivery rose 0.4% to $69.79 per barrel by 2354 ET. Brent futures, the international benchmark, for August delivery were also up 0.4% to $73.24 per barrel.
Gold prices continued their downward trend on Wednesday. Spot gold dropped 0.8% to $3,978 per ounce by 0354 GMT, while US gold futures for August delivery declined 1.2% to $3,990 per ounce.
Here's a look at some major developments across global markets:
Curbs on Anthropic’s Fable, Mythos AI models lifted
Anthropic said on Tuesday that the US Commerce Department lifted export controls on its Fable and Mythos AI models. The company will begin restoring access to the models on Wednesday.The decision comes less than three weeks after the company was ordered to suspend access to its most advanced AI models over national security risks.
Kawasaki Heavy plans to raise $1.2 billion
A Reuters report on Wednesday said that Japan's Kawasaki Heavy Industries is finalising plans to raise about 200 billion yen, or $1.23 billion, by issuing new shares and convertible bonds to fund capital expenditure.Report suggested that the shares and convertible bonds will be sold mainly to overseas institutional investors, it added.
CMA CGM nears $1.4 billion deal for FedEx logistics unit
French container shipping group CMA CGM is nearing a deal to acquire FedEx’s third-party logistics business, known as FedEx Supply Chain, for $1.4 billion in cash, according to a report in the Financial Times. The report mentioned that talks between the two companies are at an advanced stage and a deal could come together as soon as Wednesday.
EKH announces Hong Kong and global public offerings
Singapore’s leading container depot operator EKH Ltd has announced the launch of its Hong Kong public offering and the international offering on Tuesday. The company intends to offer 51,600,000 newly issued shares under the global offering at an indicative offer price range of HK$2.20 to HK$2.68 per share.
EKH plans to use the net proceeds from the global offering primarily towards the construction and development of its Mega Depot project in Singapore, repayment of the loan and/or interest expenses.
Australia’s South32 to sell bulk of aluminium portfolio to Alcoa
Australia’s South32 on Wednesday announced that it has agreed to sell most of its aluminium assets to Alcoa for an implied enterprise value of up to $5.6 billion. The move is part of the plan to help South32 streamline its business to focus on copper under a new CEO. For Alcoa, the deal expands access to upstream assets including bauxite, alumina and aluminium assets across Brazil, South Africa, and Western Australia.
