ASIA/PACIFIC
Asian stocks traded mixed on Wednesday following U.S. President Donald Trump’s proposal for 25% tariffs on autos, semiconductors, and pharmaceutical imports.
Australia: The stock market closed in the red, pressured by banking stocks after NAB reported lower profits amid rising mortgage and deposit competition.
China: The Shanghai Composite Index rose 0.8%.
Hong Kong: The Hang Seng Index edged down 0.1%.
Japan: The Nikkei 225 Index dipped 0.3%, weighed by mixed economic data—exports rose 7.2% year-on-year in January, but core machinery orders fell unexpectedly in December, signaling weak capital spending.
EUROPE
European markets closed lower as investors reacted to corporate earnings and a hotter-than-expected UK inflation report.
UK Inflation: The Office for National Statistics reported a jump to 3% in January, exceeding forecasts of 2.8% and rising from 2.5% in December.
Stoxx 600 Index: Declined 0.9%.
HSBC: Reported $32.31 billion in annual pre-tax profit, slightly below expectations, as net interest income fell by $3.1 billion.
AMERICAS
Wall Street closed higher even though the minutes of the latest Federal Reserve meeting revealed officials want to see further progress on inflation before they consider resuming lowering interest rates.
Latin America: Brazil announced its decision to join OPEC+, a move that may impact global energy markets.
AFRICA
Egypt: Foreign exchange earnings surged 30.8% year-on-year, reaching $159.6 billion in the 2023/2024 fiscal year, driven by a rise in foreign direct investment (FDI) to $32.9 billion.
Nigeria: Currency in circulation hit N5.24 trillion in January, with 90.5% held outside banks, according to the Central Bank of Nigeria.
MIDDLE EAST
Gulf markets closed mixed as investors reacted to Trump’s tariff proposals.
Qatar: The index added 0.1%, boosted by a 0.9% rise in Qatar National Bank.
Saudi Arabia: The benchmark index fell 0.1%, weighed down by a 1.1% drop in ACWA Power Company.
Dubai: The main share index gained 0.3%.
Abu Dhabi: The index finished 0.3% lower.
COMMODITIES
GOLD
Spot gold steadied at $2,938.13 per ounce as of 08:31 GMT. U.S. gold futures rose 0.2% to $2,956.20, as investors monitored Russia-Ukraine peace talks.
OIL
Brent crude futures rose $0.60 (0.8%) to $76.44 per barrel. U.S. West Texas Intermediate crude futures for March gained $0.63 (0.9%) to $72.48, supported by concerns over oil supply disruptions in Russia and the U.S..
