Market UpdatesMar 27, 20262 Min

Global market wrap: Asian markets trim losses, oil eases, gold gains amid Middle East uncertainty

Asian stocks pared early losses on Friday as US President Donald Trump’s decision to postpone strikes on Iran provided some relief. But worries over a prolonged war continued to weigh on the region’s markets. Oil prices eased after US President Donald Trump said Iran had allowed 10 oil tankers to pass through the Strait of Hormuz this week.

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

Asian stocks fell early on Friday but later pared some of the losses after US President Donald Trump delayed planned strikes on Iran. Trump pushed back his March 27 deadline to attack Iran’s energy infrastructure by 10 days, moving it to April 6 to allow more time for negotiations. But concerns over a prolonged war continued to weigh on markets. The region had taken a weak lead from Wall Street, which dropped sharply on Thursday amid rising uncertainty around the Iran situation, especially after Tehran ruled out direct talks with Washington.

South Korea’s blue-chip Kospi recovered most of its intraday losses and was 0.4% down at 5,438, after declining as much as 3% earlier in the session.

Similarly, Japan’s Nikkei 225 slipped 0.4% to 53373. In Australia, the S&P/ASX 200 fell 0.1% to end the session at 8,516.

Hong Kong’s Hang Seng index, meanwhile, traded in the green, up 0.3% at 24,951. Singapore’s Straits Times Index also rose 0.3% to 4,903.

On Thursday, Wall Street’s main indexes fell sharply, with the Nasdaq dropping more than 2%, as investors grew concerned about a possible escalation in the US-Israel war with Iran. The Nasdaq Composite fell 2.3% to 21,408. The Dow Jones Industrial Average declined 1.0% to 45,960, while the S&P 500 dropped 1.7% to 6,477.

Oil prices also eased after Trump said Iran had allowed 10 oil tankers to pass through the Strait of Hormuz this week. International benchmark Brent crude futures fell 0.2% to $107.73 per barrel, while US West Texas Intermediate futures slipped 0.6% to $93.87 per barrel. However, oil prices recovered all their losses in the afternoon session and rebounded in the range of 1% tto 3%.

Meanwhile, in Singapore, petrol prices have started to ease after rising for three straight weeks. Pump prices have been falling since March 25 as oil markets reacted to changing signals from the Middle East conflict, with declines continuing on March 26 and 27. Major operators including Shell, Esso, Sinopec, Caltex and SPC have cut the price of 95-octane petrol, the most widely used grade, by five to 18 cents.

Adding to the recent moves in energy prices, supply concerns have emerged from Australia. Two liquefied natural gas (LNG) plants, which account for about 5% of global capacity, have cut output due to Tropical Cyclone Narelle. The disruptions affected Chevron’s Wheatstone platform and one unit at its Gorgon plant. The outages are expected to tighten supply and could push LNG spot prices higher, adding to pressure on buyers.

Gold rose over 2% but remained on track for a fourth straight weekly loss. Spot gold was up 2% at $4,467.51 per ounce, though it has declined about 1.2% so far this week. US gold futures for April delivery gained 1.8% to $4,458.90. Spot silver also moved higher, rising 3.01% to $70.01 per ounce.

In Dubai, gold prices rose sharply, gaining over Dh6 per gram. The price of 24K gold stood at Dh535.5 per gram at the open, up from Dh529.25 at the previous close. Other variants also moved higher. 22K gold was priced at Dh495.75 per gram, 21K at Dh475.25, 18K at Dh407.50, and 14K at Dh317.75.

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

Meta increases West Texas AI data centre investment sixfold to $10 billion, 300 jobs to be created

Meta is increasing its investment in a planned AI data centre in West Texas to $10 billion, more than six times its original commitment. The company aims for the facility in El Paso to reach 1 gigawatt of capacity when it comes online in 2028. The project is expected to create 300 permanent jobs and require more than 4,000 construction workers at its peak. Meta also pledged to add over 5,000 megawatts of clean energy to the grid and work with nonprofits to supply fresh water to the area. The move is part of Meta’s broader push into AI infrastructure. In January, the company told investors it expects capital expenditures to reach as much as $135 billion this year.

Elon Musk plans large retail slice in SpaceX IPO: Report

Elon Musk is reportedly considering allocating up to 30% of SpaceX’s upcoming IPO to individual investors, at least three times the usual share reserved for retail buyers. The move aims to tap Musk’s dedicated fan base and loyal backers to help stabilise the stock after its debut. The planned IPO structure departs from the usual Wall Street approach. SpaceX is giving some companies narrowly defined roles based on past relationships rather than letting them compete broadly for investors. As part of that approach, Musk has picked Bank of America to handle domestic retail distribution. Retail demand for the SpaceX IPO is expected to be strong. The company could reach a valuation of $1.75 trillion when it goes public.

Apple offers rare bonuses to iPhone designers to retain talent

Apple awarded rare bonuses to members of its iPhone hardware design team this week, aiming to prevent employees from leaving for AI startups like OpenAI, reported Bloomberg. The out-of-cycle bonuses, separate from Apple’s usual schedule, are reportedly worth between $200,000 and $400,000 over a four-year vesting period. Employees must remain at Apple for the full four years to receive the full amount. The move highlights Apple’s effort to retain key talent as competition from AI-focused companies intensifies.

Separately, Apple is planning to open Siri to rival AI services beyond ChatGPT. The change would allow users to route queries to third-party apps such as Alphabet’s Gemini or Anthropic’s Claude.

US ChatGPT ads hit $100 million annualised revenue just six weeks after launch

OpenAI’s ChatGPT advertising pilot in the United States has reached $100 million in annualised revenue just six weeks after launch. The early figures highlight strong demand for the AI startup’s new ad business. The pilot, rolled out in January, shows ads to some US users on the free and lower-priced Go plans. The ads are separate from ChatGPT’s responses, and user conversations are not shared with advertisers. Currently, about 85% of users are eligible to see ads, but fewer than 20% see them daily, leaving room for growth. OpenAI plans to expand the test to other countries soon, including Australia, New Zealand, and Canada.

US judge temporarily blocks Pentagon move against Anthropic in AI dispute

A US judge temporarily blocked the Pentagon’s decision to blacklist Anthropic, in a dispute over the use of AI in military operations. Anthropic had filed a lawsuit in a California federal court, stating that US Defense Secretary Pete Hegseth exceeded his authority by labelling the company a national security risk. The designation is used for firms seen as potential threats to military systems. A US District Judge ruled in favour of Anthropic but delayed the order by seven days to allow the government to appeal. The Pentagon’s move came after Anthropic declined to allow its AI chatbot to be used for US surveillance or autonomous weapons.

Warner Bros shareholders to vote on $110-billion Paramount deal on April 23

Warner Bros Discovery said that shareholders will vote on its proposed $110-billion merger with Paramount Skydance on April 23. The vote marks a major step towards completing a deal that could reshape the media industry. If approved, the merger would move forward, but it will still face scrutiny from regulators in the US and Europe. Authorities are expected to review whether the combined company could reduce competition or lead to higher prices for consumers.

Nissan’s premium brand Infiniti launches new SUV to revive US market presence

Infiniti, the premium brand of Nissan, has launched QX65, a midsize luxury SUV with a relatively lower starting price than similar models. The launch comes as the brand looks to revive its presence in the United States. Infiniti’s sales in the US have dropped about 65% since their peak in 2017. The company sold around 1,53,000 vehicles that year but reported sales at roughly one-third of that level in 2025.