Global market wrap: Asian stocks rise as AI rally lifts Nasdaq to record high; Meta soars 11%

We are back with quick updates on global developments around stock markets, commodities and companies that are creating buzz today.

Asian stocks advanced on Tuesday tracking gains in the US equities after a massive tech rally there boosted sentiment.

Shares of Meta Platforms soared over 11% in the US on Monday as the company’s recently launched AI assistant Muse gained traction among consumers. Semiconductor stocks like Arm Holdings surged 17%, Intel jumped 12% and AMD climbed 10%.

On Tuesday, South Korea’s Kospi index rose 1.1% to 7,084. China’s Shanghai Composite index inched up 0.2% to 3,959, while Hong Kong’s Hang Seng Index gained 0.4% to 25,132. Japan’s markets were closed for a holiday.

Singapore’s Straits Times jumped 0.5% to 5,701, while Australia’s S&P/ASX 200 inched up 0.2% to 8,749.

US stock futures were trading nearly unchanged on Tuesday after a solid run-up on Monday. S&P 500 futures and futures tied to the Dow were flat, while Nasdaq 100 futures were marginally up 0.2%.

In the regular trading session on Monday, the S&P 500 climbed 1.5%, the Dow Jones Industrial Average added 0.7%, while the Nasdaq Composite jumped 2.3% to close at a record high.

Oil prices gained for the first time in five days on Tuesday ahead of the US-Iran talks at the United Nations General Assembly ‌this week.

The US crude oil futures for November delivery jumped 1.1% to $93.39 per barrel at 0054 EDT, while Brent futures for November delivery gained 1.4% to $101.70 per barrel.

Gold prices were largely flat on Tuesday amid uncertainty around oil prices and inflation. US gold futures for ​December delivery inched down 0.1% to $4,379 per ounce, while spot gold was trading unchanged at $4,342 per ounce by 0454 GMT.

Here’s a look at the other key developments of the day:

AMD becomes fourth US chipmaker to hit $1 trillion m-cap

Advanced Micro Devices (AMD) on Monday surpassed the $1 trillion in market capitalization for the first time, becoming the fourth US chipmaker to reach the milestone.

The company’s shares climbed nearly 10%, reaching an all-time high of $616.69, pushing its valuation to over $1 trillion.

With this, AMD joined Nvidia, Broadcom and Micron in the $1-trillion valuation club. Nvidia first had crossed the mark in 2023 and is now valued at more than $5 trillion, making it the world’s most valuable firm.

Lockheed wins $1.2-billion missile contract from US Army

Lockheed Martin on Monday said that it had secured a contract ​worth up to $1.2 billion from ‌the US Army to produce the Increment 2 variant of the Precision Strike ​Missile (PrSM).

Lockheed Martin said the ​award follows a second successful flight test of the missile’s Increment 2 variant, which ​demonstrated its ability to engage ​moving maritime targets.

The contract comes as Lockheed ‌ramps ⁠up production of the Precision Strike Missile amid rising demand for long-range strike weapons.

Novo Nordisk shares dive nearly 8% as company sets 2030 growth targets

Novo Nordisk’s shares sank nearly 8% on Monday after the Danish drugmaker outlined its 2030 targets in London.

The Wegovy maker failed to impress analysts at its capital markets day. The company said it expects compound annual revenue growth from 2026 to 2030 to be in line with “industry peers,” while keeping its operating margin broadly stable.

The company came up short by not sharing more specifics on near-term growth targets amid fierce competition in the weight-loss drug market.

Shenzhen Camsense Technologies launches $682 million Hong Kong IPO

Shenzhen Camsense Technologies kicked off bookbuilding of its Hong Kong initial public offering (IPO) on Tuesday, aiming to raise HK$682 million.

The robotic vacuum spatial sensing components supplier plans to sell 11.59 million H shares, with an offer price of HK$58.85. Each lot contains 100 shares, requiring a minimum investment of HK$5,944.4. The stock is expected to debut on September 30.

Ligent Technologies jumps in Hong Kong debut

Shares of Chinese fibre-optic communications equipment maker Ligent Technologies rallied as much as 19.2% to HK$39.3 a share in their Hong Kong debut on Tuesday after raising HK$5.67 billion through its IPO.

The stock’s offer price was HK$32.96. Ligent sold 172.01 million shares in its base offering, giving it a market value of about HK$32.4 billion at the offer price, according to its listing prospectus.

Bitcoin rallies 7.7% to 7-month high

Bitcoin surged above $87,000 in the US on Monday as investors rushed back into riskier assets. The original cryptocurrency surged as much as 7.7% to $87,354 in New York, extending a rebound of more than $10,000 from last week’s lows.

Bitcoin is now back at late January levels but remains roughly a third below its record in October 2025. The rally comes alongside a jump in stocks and bonds amid falling oil prices.