Market UpdatesJul 20, 20262 Min
Global market wrap: Asian stocks trade mixed as US strikes Iran for 9th night; Brent crude breaches $90/barrel
We are back with quick updates on global stock markets, commodities and companies that you shouldn’t miss today.
Asian markets traded mixed on Monday amid heightened volatility as the US completed its ninth consecutive night of strikes against Iran.
South Korea’s benchmark Kospi tumbled 4.2% to 6,537 on Monday. Japan’s stock markets were closed for trading for a holiday.
China’s Shanghai Composite index jumped 1.2% to 3,808 on Monday. Hong Kong’s Hang Seng Index also gained 2% to 25,046.
Australia’s S&P/ASX 200 inched up 0.2% to 8,813, while Singapore’s Straits Times was flat at 5,510.
US stock futures rose marginally on Sunday after another tough week. S&P 500 futures were trading up 0.1%, Nasdaq 100 futures rose 0.4%, while futures tied to the Dow were trading almost unchanged.
Last week, the S&P 500 lost 1.6%, the Nasdaq 100 shed 2.9%, while the Dow Jones Industrial Average fell 0.9%.
Oil prices continued to rise on Monday, with the Brent breaching the $90-per-barrel mark. The US crude oil futures for July delivery rose 2.4% at $83.70 per barrel by 0009 ET, while Brent futures for August delivery were up 2.6% to $90.37 per barrel.
Gold prices were trading under pressure as rising oil prices weighed on interest rate outlook. Spot gold was steady on Monday, up 0.2% to $4,024 per ounce by 0409 GMT. However, US gold futures for August delivery dropped 1.7% to $4,029 per ounce.
Here’s a look at some major developments across global markets:
China’s Moonshot AI may list within six months
China’s Moonshot AI has told investors that it was planning to list in Hong Kong within six months after the launch of its latest model Kimi K3 upended industry perceptions of the country’s artificial intelligence (AI) capabilities.
According to a report, the company has officially distributed the shareholder resolution to its investors for the Hong Kong listing. The initiation of the notification process indicates an IPO could happen as soon as within the next half a year.
TSMC accelerating Arizona factory buildout to capitalize on AI ‘megatrend’
Taiwan Semiconductor Manufacturing Co.’s (TSMC’s) chief financial officer Wendell Huang told a media outlet that the company is racing to accelerate capacity at its Arizona factory as it continues to see a “multi-year demand mega trend” from its customers.
TSMC is scaling up its mega investment in Arizona by committing an additional $100 billion to expand its US chipmaking footprint. The fresh commitment raises TSMC’s total investment pipeline in Arizona to $265 billion.
Samsung Biologics to acquire Switzerland’s PolyPeptide Group for $1.8 billion
South Korea’s Samsung Biologics announced on Monday that it had made an all-cash bid of $1.8 billion for Switzerland’s PolyPeptide Group in the largest biopharmaceutical merger and acquisition (M&A) deal in the country’s history.
The transaction, which aims to diversify Samsung’s portfolio by expanding into one of the fastest-growing peptide therapeutics segment, is expected to close by the end of this year.
Electric cars become cheaper in Germany
Models of battery electric vehicles (BEVs) became more affordable in Germany between 2020 and 2025, data showed. Though the average BEV price rose during 2020-2025, they saw a drop when adjusted to inflation.
Median nominal price for a BEV rose 42% to about €53,000 during the period, compared with a 15% increase for internal combustion engine vehicles (ICEVs). However, when adjusted for inflation, prices for BEV models with comparable characteristics fell by about 18% between 2020 and 2025.
Chinese startup 01.ai targets Hong Kong IPO next year
According to a report, computer scientist Kai-Fu Lee’s AI startup 01.ai is pushing ahead with plans to raise funds before an initial public offering (IPO) in 2027.
The Beijing-headquartered company is seeking to raise capital in a pre-IPO financing round before pursuing a listing on Hong Kong’s stock exchange, the report mentioned. Lee aims to conclude that funding around the time 01.ai unveils annual results for the first time.
