Market UpdatesMar 10, 20262 Min

Global Market Wrap: Asian markets rebound, oil retreats as Trump hints at Middle East de-escalation

Asian Markets Rebound, Oil Retreats on Middle East De-escalation Hints

Asian stocks rallied and oil prices plunged in early trade on Tuesday as optimism returned to markets after US President Donald Trump indicated that the war with Iran “could be over soon.”

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

Asian markets rebounded on Tuesday, March 10, after US President Donald Trump commented that the Middle East war could be "over soon”. Major Asian indices traded higher in the early session as Trump’s remark sparked a wave of optimism across regions. The MSCI Asia ex-Japan index ended a two-day losing streak, climbing 2.8%. Japan’s Nikkei 225 and South Korea's equity benchmark Kospi gained up to 6%.

Oil prices plunged up to 11% in last two sessions after surging to their highest levels since 2022. However, US equity futures traded nearly flat.

Meanwhile, Gold prices rose in Asian trade on March 10, supported by the improving market mood and ongoing focus on the de-escalation of the US-Israel conflict with Iran. Spot gold climbed 0.9% to $5,180.95 an ounce (at 1:58 GMT).

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

OpenAI acquires cybersecurity startup Promptfoo

OpenAI on Monday announced that it is acquiring the cybersecurity startup Promptfoo, a company that develops tools to safeguard and test complex artificial intelligence systems.

The ChatGPT-owner said that Promptfoo’s team will join the company, as per a CNBC report. However, financial terms of the acquisition deal have not been disclosed by OpenAI.

Promptfoo’s security solutions will be integrated into OpenAI’s Frontier platform for AI agents. The startup’s popular open-source project, which allows developers to test AI prompts and compare the performance of models such as ChatGPT, Anthropic’s Claude and Google’s Gemini, will continue to be developed under OpenAI.

Singapore Exchange to launch Asian Government Bond Futures

The Singapore Exchange (SGX) is set to introduce Asian government bond futures in the coming weeks, as investors seek hedging tools amid growing market strains from geopolitical tensions. SGX Chief Executive Loh Boon Chye said on Monday that the move is aimed at providing market participants with better risk management options, according to a Straits Times report.

The decision comes amid a global sell-off in bonds triggered by fears that the war in the Middle East could drive inflation and prompt central banks to adopt more hawkish policies. Bond futures are a key instrument for managing interest rate risk.

Australian business conditions stable in February

Business conditions in Australia remained steady in February 2026, while sales showed a marginal improvement, as per a survey by the National Australia Bank (NAB). However, business sentiment fell into negative territory for the first time in 11 months due to increasing borrowing costs, Reuters reported, citing the NAB survey.

NAB’s index of business conditions held at +7, in line with its long-term average, while the often-volatile measure of business confidence fell 5 points to -1. Sales edged up 1 point to +12, profits remained at +4 and employment dipped slightly to +3.

The survey also indicated a rebound in both labour and input costs in February, in addition to quarterly retail price growth accelerating to 1% from 0.3%. But on a positive side, investment plans rose to their highest in three years and forward orders rose threefold to +6.

Goldman Sachs targets hedge funds with strategies to short tech loans

Goldman Sachs has approached hedge funds with strategies to short corporate loans, as investors increasingly seek to bet against debt in enterprise software companies and other sectors exposed to threats from artificial intelligence, the Financial Times reported.

According to sources cited by FT, Goldman Sachs has presented clients with complex trades aimed at gains from further declines in loans to software companies that have faced pressure in recent months.

The strategies, shared on an informal basis, focus on total return swaps, which are derivatives that allow investors to profit if loan prices fall. The bank has received client requests for these swaps in recent weeks and has begun proactively reaching out to hedge funds interested in taking positions against technology company loan prices.