ASIA/PACIFIC
Asia-Pacific markets declined on Thursday as investors reacted to U.S. President Donald Trump’s proposed tariffs on autos, semiconductors, and pharmaceutical imports, alongside concerns that the Federal Reserve may keep interest rates elevated for longer. Japan’s Nikkei 225 fell 1.2%, tracking weakness in global risk sentiment. China’s Shanghai Composite ended marginally lower after the People’s Bank of China (PBOC) held its benchmark lending rates unchanged, in line with expectations. Australia’s stock market extended its losses for a fourth consecutive session as investors processed mixed corporate earnings and unexpectedly strong labor market data.
EUROPE
European markets closed mixed, with the Stoxx 600 index slipping 0.18% as investors assessed a combination of economic data and corporate earnings: Eurozone consumer confidence improved in February. Construction output remained stable in December. Germany’s producer prices rose 0.5% in January, signaling persistent inflationary pressures. Swiss employment recorded a 0.6% rise in Q4, suggesting labor market resilience. Earnings reports from major corporations such as Birkenstock, Lloyd, Mercedes-Benz, Renault, and Airbus shaped sentiment, with mixed results leading to sector-specific volatility
AMERICAS
U.S. stocks experienced a volatile Thursday, initially plummeting due to a 6.5% drop in Walmart shares, before partially recovering. Despite the rebound, major indices still closed in negative territory. The U.S. Department of Labor’s report on initial jobless claims, which exceeded analyst expectations. The U.S. Treasury Department announced plans to auction $183 billion in government bonds next week, including: $69 billion in 2-year notes (Feb 24) $70 billion in 5-year notes (Feb 25) $44 billion in 7-year notes (Feb 26). Meanwhile, Colombia’s stock market surged, fueled by electoral anticipation and a stable dollar. The MSCI Colcap Index soared 28.48% YoY, rising from 1,220.31 (Feb 19, 2024) to 1,567.89 (Feb 17, 2025).
AFRICA
Nigeria’s central bank held its benchmark interest rate at 27.50%, following a 25bps hike in November. The decision comes after six consecutive rate increases last year, totaling 875 basis points. Moody’s affirmed Egypt’s long-term credit rating at Caa1, maintaining a positive outlook due to progress in external and fiscal rebalancing.
MIDDLE EAST
Most Gulf stock markets closed higher, as investors cautiously shrugged off concerns over U.S. tariffs and the Federal Reserve’s monetary stance: Saudi Arabia’s benchmark index gained 0.6%, led by a 2.1% rise in Saudi National Bank, the country’s largest lender. Abu Dhabi’s index climbed 0.5%, while Dubai’s main index slipped 0.2%. Qatar’s stock market edged up 0.1%. Abu Dhabi state-backed oil giant ADNOC announced plans to offer 3.1 billion shares of ADNOC Gas, maintaining its 90% ownership stake in ordinary shares.
COMMODITIES
GOLD
Spot gold steadied at $2,930.19 per ounce, after touching a fresh record high of $2,954.69 earlier in the session. U.S. gold futures gained 0.4% to $2,946.90, as inflation and trade uncertainty fueled demand for the precious metal.
OIL
Brent crude futures rose 50 cents to $76.54 per barrel. West Texas Intermediate (WTI) crude climbed 46 cents to $72.71 per barrel. An industry report showing a buildup in U.S. crude stockpiles weighed on oil prices, limiting gains.
