ASIA/PACIFIC
Asian stock markets ended mixed on Tuesday, following remarks from Chinese President Xi Jinping, who reiterated support for the country’s private sector and encouraged businesses to “show their talents.” The Australian stock market extended its losses for a second consecutive session, weighed down by declines in energy stocks and banking shares. This followed the Reserve Bank of Australia’s (RBA) decision to cut its cash rate by 25 basis points to 4.1%—the first reduction since November 2020. However, policymakers cautioned against expectations of further rate cuts, tempering investor sentiment.
EUROPE
European markets closed mostly higher on Tuesday, buoyed by diplomatic discussions between the United States and Russia over the ongoing war in Ukraine. Talks between high-ranking officials in Riyadh reportedly raised investor optimism about potential de-escalation. United States President Donald Trump’s National Security Adviser, Mike Waltz, affirmed that the U.S. administration is “determined to move very quickly” on ending the conflict. Meanwhile, Russian Foreign Minister Sergey Lavrov suggested that Washington was beginning to understand Moscow’s stance, fueling speculation of possible diplomatic progress.
AMERICAS
U.S. stock indices opened mostly in the green on Tuesday as investors evaluated the potential implications of the U.S.-Russia negotiations in Riyadh. Markets remained focused on geopolitical developments and their impact on global stability and trade.
AFRICA
Nigeria’s banking sector came under scrutiny as the Central Bank of Nigeria (CBN) issued a sweeping directive imposing stricter insider lending limits. The regulator warned commercial banks to comply within 180 days. This move aligns with the statutory requirements of the Banking and Other Financial Institutions Act (BOFIA) 2020, reinforcing governance measures in the financial sector.
MIDDLE EAST
Gulf stock markets rebounded on Tuesday, recovering from earlier losses amid uncertainty over U.S. tariff policies on imports. Meanwhile, Saudi Arabia’s stock exchange anticipates a record year for initial public offerings (IPOs), according to CEO Mohammed Al-Rumaih. The kingdom’s Tadawul stock exchange, the largest in the Gulf Arab region, boasts an average daily trading volume exceeding $1 billion since opening to foreign investors in 2015. On the bond front, Qatar National Bank (QNB) is marketing a U.S. dollar-denominated, five-year senior floating-rate Formosa bond, with final price guidance set at SOFR plus 105 basis points.
COMMODITIES
GOLD
Gold prices surged as investors sought safe-haven assets amid concerns over U.S. tariffs and potential trade tensions between the U.S. and China. Spot gold rose by 1% to $2,927.61 per ounce, while U.S. gold futures climbed 1.6% to $2,946.40 per ounce.
OIL
Crude oil prices edged higher on Tuesday: Brent crude futures rose 44 cents (0.6%) to $75.66 per barrel.U.S. West Texas Intermediate (WTI) crude futures gained 91 cents, reaching $71.65 per barrel. The U.S. Presidents’ Day holiday on Monday meant that WTI crude did not settle, leading to a stronger price rebound in Tuesday’s session.
