Global markets ended the week with a cautious tone, shaped by geopolitical tensions, upcoming U.S. tariff deadlines, and low trading volumes ahead of the American Independence Day holiday. While Asia and Europe offered mixed signals, the Middle East revealed notable regional developments that stood out. Commodity markets responded to fiscal concerns and thinner liquidity, marking subtle shifts in gold and oil prices.
ASIA/PACIFIC
Asian stocks ended mixed on Friday as investors awaited clarity on upcoming U.S. trade deals, with President Trump’s July 9 deadline for increased tariffs looming large. China’s Shanghai Composite Index edged up 0.32%, while Hong Kong’s Hang Seng Index slipped 0.64% amid cautious sentiment. Japanese markets swung between gains and losses before ending flat. In Australia, the S&P/ASX 200 closed unchanged at 8,603, reflecting subdued trading ahead of the U.S. holiday.
EUROPE
European equities lost ground as risk appetite waned. The Stoxx Europe 600 index fell 0.5%, while the U.K.’s FTSE 100 ended flat. France’s CAC 40 declined 0.8% and Germany’s DAX slipped 0.6%. Other markets that closed lower included the Czech Republic, Finland, Ireland, Netherlands, Poland, Russia, Spain, and Sweden. Meanwhile, Denmark, Greece, Iceland, Norway, and Portugal posted modest gains. Austria and Belgium ended flat, mirroring the regional indecision.
AMERICAS
U.S. stock markets were closed on Friday, July 4, in observance of Independence Day. Trading volumes across the Americas were muted, with investors awaiting economic updates and developments on fiscal and trade policies next week.
AFRICA
The Malawi Stock Exchange saw an exceptional earnings season. Listed companies reported dramatic improvements for the half-year ending June 30, 2025, with many posting profit increases exceeding 500%. Trading statements released this week highlight a broad-based recovery across key sectors, underlining investor confidence in the region’s growth trajectory.
MIDDLE EAST
In a landmark move, the Abu Dhabi Securities Exchange (ADX) will list the Middle East’s first-ever distributed ledger technology (DLT)-based bond. Issued by First Abu Dhabi Bank (FAB) using HSBC’s Orion digital assets platform, the bond listing marks a significant step forward for innovation in regional capital markets and reinforces the UAE’s commitment to fintech adoption.
COMMODITIES
GOLD
Spot gold rose 0.1% to $3,329.67 per ounce (as of 0221 GMT), supported by safe-haven demand as President Trump’s tax-cut and spending bill raised concerns over rising fiscal deficits. Meanwhile, U.S. gold futures edged down 0.1% to $3,339.30.
SILVER-PLATINUM-PALLADIUM
Spot silver slipped 0.5% to $36.66 per ounce. Platinum gained 0.7% to $1,376.67, while palladium retreated 0.6% to $1,130.60.
OIL
Oil prices softened amid thin trade volumes. Brent crude futures declined 50 cents (0.7%) to $68.30 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 50 cents (0.75%) to $66.50. Market activity was subdued ahead of the U.S. holiday, with participants eyeing upcoming inventory data and OPEC+ commentary.
