Global market wrap: Asian stocks recover as oil prices ease; Snowflake shares climb 23%

We are back with quick updates on global developments around stock markets, commodities and companies that you shouldn’t miss today.

Asian stocks recovered slightly on Thursday after three days of losses, tracking gains on Wall Street on Wednesday night even as the fighting between the US and Iran continued.

South Korea’s Kospi index climbed 1.4% to 6,657, though Japan’s Nikkei index inched up just around 0.2% to 64,471 on Thursday.

China’s Shanghai Composite index rose 0.4% to 3,958, while Hong Kong’s Hang Seng Index was trading almost unchanged at 25,317.

Australia’s S&P/ASX 200 rose 0.5% to 9,022 on Thursday. Singapore’s Straits Times was also up 0.5% to 5,775.

US stock futures were trading steady on Thursday ahead of the release of the weekly jobless claims. S&P 500 futures inched down 0.03%, Nasdaq 100 futures were down 0.07%, while futures tied to the Dow were trading marginally higher by 0.08%.

In the regular trading session on Wednesday, the S&P 500 rose 0.46%, the Nasdaq Composite gained 0.45%, while the Dow Jones Industrial Average jumped 0.56%.

Oil prices eased on Thursday after rallying sharply in the past couple of session. The US crude oil futures for October delivery lost 0.7% to $90.38 per barrel on Thursday by 0119 EDT, while Brent futures for December delivery slipped 0.9% to $94.79 per barrel.

Gold prices advanced on Thursday on weaker dollar and softer oil prices. US gold futures for ​December delivery jumped 1.3% to $4,473 per ounce, while spot gold was up 0.9% to $4,426 per ounce by 0519 GMT.

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

Snowflake shares spike 23% after Q2 earnings

Shares of data analytics software company Snowflake spiked 23% in extended trading on Wednesday after earnings announcement.

The company’s revenue jumped 35% year-over-year in the second quarter ended July. Net loss stood at $191.7 million, or 55 cents per share, smaller than the net loss of $297.9 million, or 89 cents per share, a year ago.

For the fiscal third quarter, Snowflake said it expects $1.59 billion in product revenue, above the $1.5 billion consensus among analysts.

Microsoft to start disclosing standalone quarterly sales for Azure

Microsoft Corp. on Wednesday announced that it plans to begin disclosing standalone quarterly sales figures for its Azure cloud unit. This will ensure greater transparency into the company’s core growth engine.

Under the updated structure detailed in a filing with the Securities and Exchange Commission (SEC), Microsoft will collapse its traditional three reporting segments into two streamlined divisions: Agents and Infra, and Devices and Consumer. The new Agents and Infra unit merges Azure and server products with Microsoft 365 business software, while the Devices and Consumer segment brings together Windows, Xbox gaming, search, and LinkedIn advertising revenues.

Google starts September with a string of good news

After recording its longest monthly losing streak on Wall Street in more than a decade, Google on Wednesday started September with a string of positive news. The company launched Gemini 3.8 Flash, its third Flash model in six weeks, alongside a new cybersecurity model aimed at trusted government and enterprise customers.

Berkshire Hathaway CEO Greg Abel also offered a public vote of confidence for Alphabet’s AI position. Meanwhile, a federal judge on Wednesday rejected the Justice Department’s push to force Google to sell its ad exchange.

Broadcom reports sharp jump in quarterly revenue

Semiconductor and infrastructure software company Broadcom said revenue stood at $29.6 billion in the most recent fiscal third quarter 2026, up 86% year-over-year, driven primarily by surging demand for AI chips.

Moreover, the company predicted a boom in AI chip sales over the next two years. AI chip revenue will double to about $115 billion in fiscal 2027 and soar to $230 billion the following year, chief executive officer Hock Tan said during a conference call. The company also is on track to top earnings of $30 a share in fiscal 2028, outpacing Wall Street estimates, according to a report.

TikTok developer ByteDance gets $30 billion loan

TikTok developer ByteDance Ltd has secured a $29.6 billion loan in Asia’s second-largest dollar-denominated borrowing this year, according to a report.

The report said that the Chinese tech giant was originally seeking a $20 billion facility, but increased the size after gathering strong commitments from banks. Proceeds will be used mainly for general corporate purposes.

Hongkong Land eyes Japan entry with billion-dollar property deals

Hongkong Land Holdings Ltd, one of Hong Kong’s biggest landlords, is in talks to enter Japan’s property market, according to a report. The move is a part of its parent company Jardine Matheson Holdings Ltd’s pivot toward becoming an investment firm.

Hongkong Land Holdings is targeting deals over $1 billion for mixed-use complexes with high-end office, retail and hospitality spaces in prime Tokyo locations, the report mentioned. But the company has struggled to secure the right property or a suitable co-investment partner at what remains a challenging time in Japan’s investment cycle, it added.

Optical equipment maker Ligent to launch $800 million Hong Kong IPO this month

Chinese optical communications equipment maker Ligent Technologies plans to launch its Hong Kong initial public offering (IPO) as soon as September 14, according to a report. The company aims to raise around $800 million (HK$6.24 billion), it added.

The company could list in Hong Kong on September 22. The offering size, valuation and timetable could still change depending on market conditions, the report said.