ASIA/PACIFIC
Asian stocks ended mixed on Friday, with mainland Chinese and Hong Kong markets rallying sharply as DeepSeek AI optimism fueled a surge in tech stocks. Meanwhile, energy stocks weighed on Australia’s market, dampening broader regional gains. In India, investors assessed the Reserve Bank of India’s interest rate decision, which saw the central bank cut rates for the first time since 2020 to support economic growth. In Japan, household spending data signaled weaker consumer demand, raising questions about the Bank of Japan’s next policy move.
EUROPE
Major European stock markets closed lower on Friday, pressured by disappointing German industrial output data, which hit its lowest level since 2020, raising recession concerns for the Eurozone’s largest economy. Investors remained focused on corporate earnings, monetary policy outlooks, and key U.S. jobs data. The European Central Bank (ECB) flagged potential economic risks from the Trump administration’s proposed tariffs on China, Mexico, and Canada, which could disrupt European trade flows.
AMERICAS
Wall Street under pressure: U.S. stocks declined amid fresh concerns over Trump’s tariff threats on trading partners, fueling uncertainty in global trade relations. U.S. Jobs Data: The January nonfarm payroll report showed 143,000 jobs added, missing analysts’ expectations and raising concerns over labor market strength.
AFRICA
Kenya’s banking sector booms: Commercial banks in Kenya recorded an 11.58% rise in pre-tax profits, reaching $1.22 billion for the first eight months of 2024, according to the Central Bank of Kenya (CBK).
Egypt’s foreign reserves climb: Net international reserves (NIR) hit $47.265 billion at the end of January, per Central Bank of Egypt (CBE) data, signaling stronger economic stability.
MIDDLE EAST
GCC markets slow: Net foreign investor inflows into GCC equity markets slipped to $939 million in January, down from $1.04 billion in December, according to Iridium Advisors’ Foreign Flow Analysis.
UAE’s debt market expands: The UAE’s debt capital market (DCM) is projected to grow to $400 billion, according to Bashar Al Natoor, Global Head of Islamic Finance at Fitch Ratings.
COMMODITIES
GOLD
Spot gold gained nearly 1% to $2,882.50 per ounce, a new record high. U.S. gold futures added 0.7% to $2,897.50 as escalating U.S.-China trade tensions drove demand for safe-haven assets.
OIL
Brent crude futures were up 38 cents, or 0.51%, at $74.67 a barrel. U.S. West Texas Intermediate
crude rose 43 cents, or 0.61%, to $71.04 a barrel, following new U.S. sanctions on Iranian crude exports.
