Market UpdatesJun 19, 20262 Min

Asian stocks trade mixed; oil continues downward spree

We are back with quick updates on global stocks, commodity markets and major developments at companies across the world.

Asian stocks were trading mixed on Friday as domestic factors outweighed the optimism of easing inflation concerns after the signing of the US-Iran deal.

South Korea’s Kospi hit record highs on Friday but failed to sustain gains at higher levels. It slipped 0.1% to 9,052. Japan’s Nikkei 225 also gained 0.2% to 71,249.

Singapore’s Straits Times inched down by 0.8% to 5,166. Australia’s S&P/ASX 200 also fell 0.9% to 8,828.

Meanwhile, Markets in the US, China and Hong Kong were shut on Friday on account of holidays.

In the previous session on Thursday, the S&P 500 rose 1% to 7,500, while the Dow Jones Industrial Average was up 0.1% to 51,570. The Nasdaq 100 jumped 1.9% to 26,517 on the back of a surge in tech stocks. Gains in tech stocks was aided by a 10% rally in Intel after US President Donald Trump said the company will partner with Apple for designing chips in the US.

In the currency market, the Japanese yen was dangerously close to its weakest level in four decades. After the closing of the Japanese stock markets on Thursday, the yen dropped to as low as 161.80 per dollar. A move beyond 161.96 per dollar would leave the yen at its weakest since 1986.

Oil prices continued their downward spree on Friday as shipping through the Strait of Hormuz showed signs of recovery. US vice president JD Vance said tankers with more than 12 million barrels crossed the strait overnight.

The US crude oil futures for July delivery were trading at $76.55 per barrel by 2210 ET, down 0.07%. Brent futures, the international benchmark, for August delivery were down 0.3% to $79.60 per barrel.

Meanwhile, gold prices were under pressure on Friday and looked set for a third straight weekly decline after hawkish signals from the US Federal Reserve on Wednesday. Spot gold dropped 1% to $4,168 per ounce by 0310 GMT, while U.S. gold futures for ​August delivery were trading 1.4% lower at $4,186 per ounce.

Here's a look at some major developments across global markets:

SpaceX shares lose steam

Shares of SpaceX closed 3.6% down at $185 on Thursday after dropping more than 6% in intra-day as the post-IPO ​frenzy settled down. The stock had declined nearly 5% in the last session. However, it was still 37% above its $135 offering price.

CEOs of Anthropic, Google DeepMind seek US-led AI coalition

A CNBC report said that Anthropic CEO Dario Amodei and Google DeepMind CEO Demis Hassabis called for a US-led AI coalition at a closed-door meeting at the G7 summit on Wednesday to shape rules and standards around the emerging technology. Amodei and Hassabis both proposed international cooperation, with the US taking the lead, to protect against risks associated with AI, the report added.

First ‘commercially useful’ quantum computers coming in 5-7 years?

Amazon’s top AI executive told CNBC that the first “commercially useful” quantum computer will be available in the next five-to-seven years. Amazon AI executive Peter DeSantis said that the technology will then grow in a similar way to the advancement of semiconductor capabilities. DeSantis leads a new Amazon organization focused on AI models, chips and quantum computing.

Accenture shares plunge 17% on poor earnings forecast

Accenture on Thursday announced that the company’s Middle East business took a $400 million hit in the third quarter due to the US-Iran conflict and warned of a more severe impact in the fourth quarter.​The sales forecast was way below Wall Street estimates, which sent the stock shares down more than 17% while also sparking an industry selloff.

Momenta closer to Hong Kong IPO

Chinese autonomous driving start-up Momenta moved a step closer to a Hong Kong initial public offering (IPO) after China’s securities regulator disclosed a filing notice approving the proposed share sale.

The China Securities Regulatory Commission published on Thursday a filing notice dated June 10 allowing Momenta Global to issue up to 43.75 million overseas-listed ordinary shares and list on the Hong Kong stock exchange.

Miduoduo files for Hong Kong IPO

Miduoduo, China’s fifth-largest cross-border e-commerce marketing service provider, has filed for an IPO in Hong Kong. Miduoduo aims to use the IPO proceeds to expand its direct e-commerce operations and build localized warehouses in key Southeast Asian countries.