ASIA/PACIFIC
Asian markets rallied on Monday as trade negotiations between the United States and China showed signs of progress, easing geopolitical tensions. Chinese Vice Premier He Lifeng announced that both sides had agreed to establish a “consultation mechanism” for further discussions on trade and economic issues, boosting investor confidence. China’s Shanghai Composite Index jumped 0.8%. Hong Kong’s Hang Seng Index soared 3.0%. Japan’s benchmark Nikkei 225 ended the day 0.38% higher. Indian stocks also saw massive gains following the ceasefire between India and Pakistan over the weekend.
EUROPE
European stock markets closed in positive territory, lifted by the U.S.-China tariff reduction agreement and a newly announced “full and comprehensive” trade deal between the United States and the United Kingdom. Investors responded positively to U.S. President Donald Trump’s comments on the UK deal, viewing it as the first of several significant trade agreements. The pan European Stoxx 600 climbed 1.21%. The U.K.’s FTSE 100 gained 0.59%, Germany’s DAX ended higher by 0.29%, and France’s CAC 40 closed higher by 1.37%.
AMERICAS
U.S. stock markets experienced a significant rally following the announcement of a 90-day tariff truce between the United States and China. This agreement involved reducing U.S. tariffs on Chinese goods from 145% to 30%, and China’s tariffs on U.S. goods from 125% to 10%. The Dow Jones Industrial Average jumped 2.8%, the S&P 500 gained 3.3% and the Nasdaq Composite increased by 4.3%.
AFRICA
Egyptian equities rebounded after three consecutive sessions of losses, supported by strong corporate earnings. EGX 30 (Egypt) rose 0.5%, led by Commercial International Bank (up 1.1%) and Abu Dhabi Islamic Bank Egypt (up 3.6%), which reported a 43% rise in first-quarter net profit. Suez Canal Bank (CANA) reported a 114.41% year-on-year increase in net profit for the first quarter of 2025, according to its financial statement released on May 12.
MIDDLE EAST
Gulf markets closed higher, buoyed by the U.S.-China tariff agreement and anticipation of U.S. President Donald Trump’s planned visit to Saudi Arabia and other Gulf states. Tadawul All Share Index (Saudi Arabia) gained 1.3%, its sharpest rise in a month, with almost all sectors in the green. Saudi Aramco rose 2.2% after reporting a 97.54 billion riyals ($26.01 billion) net profit for the first quarter, beating analyst estimates. Qatar Exchange extended its three-session winning streak, adding 0.7%. Dubai Financial Market (DFM) edged up 0.4%. Abu Dhabi Securities Exchange (ADX) rose 0.1% in cautious trade.
COMMODITIES
GOLD
Spot gold was down 2.6% at $3,237.04 an ounce while U.S. gold futures shed 3.1% to $3,241.70, as risk sentiment crept in following the announcement of a temporary deal between the United States and China to reduce tariffs.
OIL
UWTI Crude (U.S.) rose $1.44 (2.36%) to $62.46 per barrel by 11:26 a.m. ET, driven by hopes of a global economic rebound. Brent Crude (global benchmark) gained $1.41 (2.21%) to $65.32 per barrel, reflecting optimism over improved trade relations.