Market UpdatesAug 07, 20262 Min
Global market wrap: Asian stocks trade mixed as Brent crude jumps 1.5%; Airbnb advances 9%
We are back with quick updates on developments around global stock markets, commodities and companies that you shouldn’t miss today.
Asian stock markets were trading mixed on Friday as oil prices rose amid a volatile geopolitical situation between the US and Iran.
South Korea’s benchmark Kospi dropped 0.6% to 6,258, while Japan’s Nikkei 225 index fell 0.3% to 65,520.
China’s Shanghai Composite index gained 0.6% on Friday to 3,924 as the country’s exports rose more than expected in July. Hong Kong’s Hang Seng Index also inched up 0.2% to 25,582.
Australia’s S&P/ASX 200 was flat at 9,271, while Singapore’s Straits Times jumped 1% to 5,696.
US stock futures were trading flat on Friday as investors awaited the jobs report for the month of July. S&P 500 futures were unchanged, Nasdaq 100 futures rose 0.2%, while futures tied to the Dow slipped 0.2%.
On Thursday, the Dow Jones Industrial Average closed down 0.9% to 53,885, the S&P 500 lost 0.2% to 7,709, while the Nasdaq Composite down 0.1% to 26,348.
Oil prices bounced back after Iran published a restrictive draft plan for the Strait of Hormuz, raising supply concerns. The US crude oil futures for July delivery rose 1.2% to $78.25 per barrel by 0137 EDT, while Brent futures for August delivery jumped 1.5% to $83.71 per barrel.
Gold prices jumped for a fifth straight session on Friday. Spot gold was up 0.9% to $4,277 per ounce by 0537 GMT on Friday, while US gold futures for August delivery jumped 0.8% to $4,336 per ounce.
Here’s a look at the key developments of the day:
Airbnb shares advance 9% after earnings beat estimates
Airbnb Inc. shares advanced around 9% in extended trading hours on Thursday after the company reported second-quarter results that beat analyst estimates.
Revenue climbed 17% from $3.1 billion a year earlier, while net income increased to $816 million from $642 million a year ago.
Airbnb also issued a better-than-expected forecast for the current period, citing strong demand “across all regions.”
AMD buys chip startup Taalas that hardwires AI models into its silicon
US semiconductor company Advanced Micro Devices Inc. (AMD) on Thursday announced that it has entered into an agreement to acquire Toronto-based startup Taalas that makes chips for inference. However, the company declined to provide a purchase price for the transaction.
Taalas’ accelerators are customized, or hard-wired for a single AI model, rather than being general purpose. Its technology promises a less-expensive chip that it says can produce output for specific models thousands of times faster than a traditional GPU.
AMD said it would integrate the Taalas chips and technology into its road map, including in systems with its central processors and Instinct GPUs.
SpaceX stock braces for first batch of shares unlock since IPO
Early investors of SpaceX would get the first chance to sell out a portion of their holdings on Thursday as initial lockup restrictions expire. Over 911 million SpaceX shares will become available for trading from Thursday, representing about 7% of shares outstanding.
On 20 August, another 319 million shares could unlock, according to the prospectus, followed by roughly 700 million in September and close to that number in October.
Cloudflare CFO Thomas Seifert sells $16.5 million in company stock
Cloudflare Inc.’s Chief Financial Officer Thomas J. Seifert has sold 55,000 shares of the company’s Class A common stock on August 4, 2026. The transactions totalled approximately $16.5 million, with shares sold at prices ranging from $300 to $301 per share.
The sale comes as Cloudflare shares have surged 64% over the past six months, trading near their 52-week high of $305.
Nintendo’s operating profit jumps 151% in June quarter
Japanese games maker Nintendo on Thursday said that its operating profit soared 150.5% to 142.6 billion yen ($903.6 million) in the June quarter on the back of robust demand for Switch and Switch 2 software.
Nintendo added that the company’s bottom line got a boost as the company received a substantial refund of money that had been paid out on tariffs on imports of its goods into the US.
Hong Kong IPO fundraising jumps 154% in first 7 months
The Hong Kong Exchanges and Clearing Ltd (HKEX) on Thursday said that funds raised through IPO in the first seven months of 2026 were 328.2 billion Hong Kong dollars (about $41.8 billion), up 154% from the same period last year.
Data showed that the HKEX recorded 104 new listings in the first six months of 2026, a year-on-year increase of 96%. The average daily turnover for the first seven months climbed 18% to 286.8 billion Hong Kong dollars.
Shein eyes $30 billion-$40 billion Hong Kong IPO valuation
Fast-fashion retailer Shein is targeting a valuation of $30 billion to $40 billion in its planned Hong Kong initial public offering (IPO), which could launch as early as mid-August, according to a report.
The valuation target and timing, which have not previously been reported, are not final and could change following investor feedback from meetings that began last week, the report added.
The target represents a sharp reduction from Shein’s previous private valuations that reached $98.2 billion in 2022, then slipped to $64 billion in 2023 and again in April 2024 as growth slowed.
Singapore Exchange reports 14% jump in revenue as IPO market revives
Singapore’s leading bourse Singapore Exchange (SGX) reported a 14% jump in yearly revenue to $1.17 billion, after the country rolled out a series of market reforms in 2025 aimed at revitalizing its stock market.
SGX posted a 24.6% increase in net profit for FY2026 as its 21 new IPO listings raised a total of $3.2 billion compared with just six listings in the previous year that raised only $20 million.
