ASIA/PACIFIC
Asian equities rallied on Tuesday, with Japanese markets leading regional gains. The Nikkei 225 Index soared 6%, following U.S. Treasury Secretary Scott Bessent’s remarks that Japan will be prioritized in upcoming trade talks with the Trump administration. The announcement came after a phone call between President Trump and Japanese Prime Minister Shigeru Ishiba. China’s Shanghai Composite Index rallied 1.6%, Hong Kong’s Hang Seng Index jumped 1.5%. Australia’ s S&P/ASX 200 Indedx rallied 2.3%.
EUROPE
European markets broke a four-day losing streak, buoyed by optimism surrounding potential U.S. tariff negotiations. The regional Stoxx 600 index closed 2.72% higher. The U.K.’s FTSE 100 closed up 2.71%, Germany’s DAX ended higher by 2.48% while France’s CAC 40 settled 2.5% up.
AMERICAS
U.S. stocks reversed sharp intraday gains and closed lower, as investor sentiment soured over fresh trade war concerns. The White House announced plans to impose a 104% duty on Chinese exports, effective at midnight. The Dow Jones Industrial Average sank by 0.84%. The Nasdaq 100 slid by 1.95%. The S&P 500 nosedived by 1.57%.
AFRICA
Egypt’s EGX30 advanced 0.6%, bolstered by a 7.1% surge in Eastern Company shares. The move followed news of a €7 billion Egypt–France agreement to develop and operate a green hydrogen production facility, according to Egypt’s Ministry of Transportation.
MIDDLE EAST
Markets across the Gulf closed higher, tracking global gains. Saudi Arabia’s benchmark index advanced 1%, extending gains from the previous session. Dubai’s main share index climbed 1.9%, The Qatari index rose 1.3%. Analysts note that GCC economies remain relatively insulated from direct tariff effects, although upcoming earnings reports and IPO activity may reflect some ripple effects.
COMMODITIES
GOLD
Spot gold was up 0.1% at $2,984.16 an ounce. U.S. gold futures settled 0.5% higher at $2,990.20. Gains were capped as U.S. 10-year Treasury yields climbed to a one-week high, reducing gold’s appeal as a non-yielding asset.
OIL
U.S. crude oil lost $1.12, or 1.85%, to close at $59.58 per barrel, the lowest level since April 2021. Falling prices reflect ongoing demand concerns amid geopolitical tension.
