ASIA/PACIFIC
The Australian stock exchange closed higher, driven by mining and gold-linked stocks, following a Wall Street tech rally overnight. Asian markets ended mixed as the latest US-China tariff tensions led to retaliatory trade measures. Key Economic Data: Australia’s services PMI rose to 51.2 in January, signaling continued expansion. Japan’s services activity increased to 53, reflecting stronger business activity.
China’s services PMI fell to 51, indicating a slowing expansion pace.
EUROPE
European equities traded higher as investors shrugged off trade concerns and focused on corporate earnings. Notable earnings releases included: Banco Santander S.A., Credit Agricole S.A., TotalEnergies SE
GSK PLC. Key Economic Data: Eurozone PPI (Producer Price Index) rose 0.4% in December, suggesting mild inflationary pressures. HCOB Composite Output Index increased to 50.2 in January, indicating marginal economic growth. UK Services PMI Business Activity Index edged up to 50.8, reflecting stable but cautious expansion.
AMERICAS
Major US stock indices ended a choppy session slightly higher even as notable technology stocks posted steep losses following earnings. Alphabet (Google-parent) reported a disappointing cloud revenue miss, despite increased AI-related spending. Investors remain cautious amid concerns about AI investment profitability and broader economic slowdown risks.
AFRICA
Nigeria’s Securities and Exchange Commission (SEC) is actively promoting blockchain technology adoption. Dr. Emomotimi Agama, the Director General of the SEC, emphasized blockchain’s role in improving efficiency and capital market regulation.
MIDDLE EAST
Most Gulf stock markets ended subdued on Wednesday in the wake of President Donald Trump’s suggestion that the US “will take over” the war-ravaged Gaza Strip and resettle more than 2 million Palestinians in neighbouring countries. The political uncertainty surrounding regional stability and diplomatic shifts weighed on market sentiment.
COMMODITIES
GOLD
Spot gold was up 0.8% at $2,864 per ounce by 09:24 a.m. ET (1424 GMT), while U.S. gold futures gained 0.4% to $2,885.90 per ounce as the yellow metal continues to be largely influenced by trade uncertainties.
OIL
Brent crude futures were down $1.61, or 2.11%, at $74.59 a barrel while U.S. West Texas Intermediate
crude (WTI) lost $1.64, or 2.26%, to $71.06, amid rising U.S. crude inventories and Sino-U.S. tariff war.