Market UpdatesMay 22, 20262 Min

Global Market Wrap: Asian Stocks Gain, Wall Street Ends Higher, Oil Rises And Gold Slips

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

Asia-Pacific markets traded higher on Friday as investors weighed U.S.-Iran diplomatic efforts toward a potential peace deal, while oil prices also gained on the uncertain outlook.

Japan’s Nikkei 225 climbed 2.6% to 63,272, while South Korea’s Kospi gained 0.2% to 7,835. Singapore’s Straits Times Index added 0.4% to 5,065, and Australia’s S&P/ASX 200 rose 0.2% to 8,643. The Hang Seng Index gained 1.2% to 25,696.

Overnight on Wall Street, the Dow Jones Industrial Average closed at a record high, gaining 0.5% to 50,285. The S&P 500 rose 0.1% to 7,445, while the Nasdaq Composite closed flat to end the session at 26,293.

Oil prices rose but remained on track for a weekly decline. While Brent crude futures gained 1.5% to $105 a barrel US West Texas Intermediate rose 0.9% to $97.

Gold edged lower, with spot gold slipping 0.3% to $4,527 per ounce. US gold futures for

June delivery also slipped 0.3% to $4,529. Spot silver dropped 0.07% to $77 per ounce.

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

Anthropic In Talks To Use Microsoft’s Maia AI Chip

Anthropic is in talks with Microsoft to use its Maia AI chip, though the companies have not finalised a deal yet. Microsoft launched the Maia AI chip in January. A deal would be a win for Microsoft as it tries to catch up with rivals Amazon and Google in the AI chip market.

US Government To Invest $2 Billion In Quantum Computing Companies

The US government will award $2 billion in grants to nine quantum computing companies, with the government taking equity stakes in the deals. The move is part of a push to support the fast-growing quantum computing industry. IBM is set to receive the largest share, with the government agreeing to award the company $1 billion.

Tesla Launches ‘Full Self-Driving (Supervised)’ Feature In China

After years of delays, Tesla said its “Full Self-Driving” feature is now available for vehicles sold in China. In a post on X, Tesla said China is among 10 markets where its FSD (Supervised) system is now available.

Meta, Broadcom Join Forces To Launch $125-Million Semiconductor Hub At UCLA

Broadcom, Meta, Applied Materials, GlobalFoundries and Synopsys are partnering to launch a $125 million semiconductor hub at the UCLA Samueli School of Engineering. The partnership will support research in chip design, manufacturing, software and semiconductor equipment. Faculty members and students will work with the companies to help speed up the development of new chip technologies.

Spotify Shares Jump On 2030 Targets, AI Deal

Shares of Spotify jumped 13% on Thursday after the company announced its 2030 targets and also an AI deal with Universal Music Group. Spotify said it is targeting mid-teens annual revenue growth, gross margins of 35% to 40%, one billion subscribers and $100 billion in revenue.

Anthropic Expands Europe Push With New Milan Office

Anthropic will open a new office in Milan this month as the AI startup expands further across Europe. The company had opened offices in Paris and Munich last year. Anthropic plans to triple its international workforce as demand for its Claude AI models grows outside the US.

Singapore’s Digital Edge Secures $575 Million Loan For Asia Expansion

Digital Edge, a Singapore-based data centre company backed by US investor Stonepeak, said it has secured its first $575-million holding company loan to support expansion across Asia-Pacific markets. The company said the funds will be used to grow its presence in South Korea, Japan, India and Southeast Asia.

Australia’s Arafura Rare Earths Secures Funding For $1.6 Billion Mine

Arafura Rare Earths plans to raise about A$350 million ($249.83 million) in a share placement backed by Hancock Prospecting, owned by Gina Rinehart, to fund its Nolans project. The announcement comes a day after the miner approved its $1.6 billion project in Australia’s Northern Territory.