Global equity markets kicked off the week on a positive note, buoyed by easing trade tensions and renewed investor optimism. The U.S. decision to temporarily exempt a range of tech products from steep tariffs on China injected fresh momentum into risk assets across Asia, Europe, and the Americas.
ASIA/PACIFIC
Asian-Pacific markets rallied, supported by the weekend announcement from U.S. Customs and Border Protection that select electronic items — including smartphones, laptops, and other tech products — will be excluded from the existing 145% tariffs on Chinese imports, as well as the baseline 10% tariffs. Hong Kong’s Hang Seng Index led regional gains, closing up 2.4%. Mainland China’s CSI 300 rose 0.23%, while Japan’s Nikkei 225 advanced 1.18%. Australia’s S&P/ASX 200 climbed 1.34%.
EUROPE
European markets followed suit, with the pan-European Stoxx 600 index gaining 2.2% as investor sentiment rebounded. Germany’s DAX surged 2.61%, France’s CAC 40 added 2.37%, and the UK’s FTSE 100 rose 2.14%. Gains were broad-based, with strong performances across technology, financials, resources, and luxury sectors.
AMERICAS
Wall Street opened higher, lifted by the easing of trade tensions and corporate developments. Tech giant Nvidia fueled optimism with plans to build AI supercomputer facilities entirely within the United States, signaling confidence in domestic manufacturing and technological advancement.
AFRICA
Egypt’s blue-chip index closed flat amid mixed regional sentiment. However, in a positive development, Egypt and Qatar agreed to work towards a $7.5 billion direct investment package, according to a joint statement from the Egyptian president’s office. Global ratings agency Fitch forecasts Egypt’s real GDP growth to accelerate to 4% in fiscal year 2025, up from 2.4% in FY 2024, driven by recovering investor confidence.
MIDDLE EAST
Most Gulf stock markets ended higher, tracking global equities. Dubai’s main share index gained 1.8%, while Abu Dhabi’s index climbed 0.9%. Qatar’s index added 0.3%, supported by a 1% rise in Qatar National Bank shares. Saudi Arabia’s benchmark index closed flat after two sessions of gains. Meanwhile, OPEC’s latest Monthly Oil Market Report highlighted the UAE’s ambitious diversification efforts, particularly its ‘Operation 300bn’ strategy, aimed at boosting manufacturing output, expanding export markets, and attracting foreign investments.
COMMODITIES
GOLD
Spot gold fell 1.1% to $3,200.11 per ounce, while U.S. gold futures slipped 0.9% to $3,216.20. The decline reflected improved risk appetite following the U.S. tariff exemptions on tech products.
OIL
Crude oil prices edged lower after OPEC trimmed its global oil demand growth forecast for 2025, citing weaker-than-expected data for the first quarter and the impact of U.S. tariffs. U.S. crude fell 0.99% to $60.89 per barrel, while global benchmark Brent declined 0.66% to $64.33 per barrel.
