ASIA/PACIFIC
Asian equities closed mostly higher on Friday as investors digested China’s April trade data and turned their attention to the high-stakes U.S.-China trade talks scheduled for the weekend. The Shanghai Composite Index edged down 0.3%, while Hong Kong’s Hang Seng Index rose 0.4%. Japanese markets led regional gains, with the Nikkei 225 surging 1.6%. In Australia, banks drove a modest rally, lifting the S&P/ASX 200 by 0.5%.
EUROPE
European stock markets ended the week in positive territory, supported by optimism following the U.S.-U.K. trade agreement and the Bank of England’s decision to cut interest rates. U.S. President Donald Trump indicated that reducing tariffs on China to 80% would be “right,” while National Economic Council Director Kevin Hassett noted that Washington is nearing definitive trade agreements with 24 countries. The pan-European Stoxx 600 gained 0.44%, with Germany’s DAX hitting a record high and closing up 0.56%. The U.K.’s FTSE 100 and France’s CAC 40 rose 0.46% and 0.7%, respectively.
AMERICAS
U.S. stocks traded mixed. While the Nasdaq crept up 0.78%, the S&P 500 edged down 0.1% and the Dow dipped 0.3% with mixed results amid investor caution ahead of significant U.S.-China trade talks.
AFRICA
Sub-Saharan African banks are unlikely to face direct consequences from new U.S. import tariffs, but indirect effects—particularly on the macroeconomic outlook and through spillovers from China—could pose challenges, according to Moody’s. The credit rating agency warned in a recent report that these impacts may include increased funding costs and slower growth in China, a key export destination for African commodity producers.
MIDDLE EAST
Gulf markets closed slightly lower as investors awaited the outcome of the upcoming U.S.-China trade talks. Abu Dhabi’s benchmark index fell 0.1%, while Dubai’s main index declined 0.03%, weighed down by losses in major lenders such as Emirates NBD Bank and Commercial Bank of Dubai. Meanwhile, financial analyst Youssef Bouhlaiqa forecasts that the Qatar Stock Exchange (QSE) index could surpass 10,700 points and potentially breach the 11,000-point threshold early next month, driven largely by favorable interest rate conditions.
COMMODITIES
GOLD
Spot gold rose 1.4% to $3,341.71 per ounce at 12:02 p.m. ET, with U.S. gold futures gaining 1.3% to $3,351.04, as the U.S. dollar weakened.
OIL
Brent crude added 53 cents, or 0.84%, to $63.37 a barrel, while U.S. West Texas Intermediate (WTI) crude climbed 51 cents, or 0.85%, to $60.42. Prices were lifted by signs of easing trade tensions between China and the United States, two of the world’s largest oil consumers.
