ASIA/PACIFIC
Asian stocks closed mixed in thin trading on Thursday, as Japan’s markets remained closed for a public holiday. Markets in China and Hong Kong fell as the People’s Bank of China (PBOC) decided to maintain the 1-year Loan Prime Rate (LPR) at 3.1% and the 5-year LPR at 3.6%, despite mounting economic concerns. Hong Kong’s Hang Seng Index fell 2.16% and mainland China’s CSI 300 dipped 0.88%. Australia’s S&P/ASX 200 traded 1.16% higher.
EUROPE
European stocks ended lower weighed down by global economic uncertainty and central bank policy decisions. The Bank of England (BoE) held interest rates unchanged, while the Swiss National Bank (SNB) cut rates by 25 basis points. Sweden’s Riksbank also held rates, citing a stable outlook despite heightened global volatility. The pan-European Stoxx 600 fell 0.43%. The U.K.’s FTSE 100 edged down 0.05%. Germany’s DAX declined 1.24%. France’s CAC 40 lost 0.95%. Switzerland’s SMI bucked the trend, rising 0.43%.
AMERICAS
Major stock indices in the United States closed slightly lower. The Dow Jones Industrial Average ticked down 0.03%, the S&P 500 lost 0.22%, and the Nasdaq dropped 0.33%. The modestly lower close on Wall Street came amid lingering concerns about the economic outlook following the Federal Reserve’s monetary policy announcement on Wednesday. Investors also assessed a fresh report on the housing market, which showed that existing home sales rose by 4.2% in February compared to the month before.
AFRICA
Egypt’s EGX30 surged 1.1%. Prime Minister Mostafa Madbouly dismissed reports alleging the sale of Banque du Caire for $1 billion, according to an official government statement. Madbouly reiterated the government’s commitment to its public offering program, which includes plans for the United Bank and Banque du Caire, but did not confirm any finalized deals.
MIDDLE EAST
Most Gulf stock markets ended mixed on Thursday, as regional tensions escalated, but optimism remained over potential U.S. Federal Reserve rate cuts later this year. The Federal Reserve’s monetary policy decisions have a direct impact on Gulf economies, as most regional currencies—including the Saudi riyal—are pegged to the U.S. dollar. This peg means that interest rate adjustments in the U.S. often influence monetary policy across the Gulf Cooperation Council (GCC) nations.Abu Dhabi fell 0.7%, Dubai gained 0.3%, Qatar declined 0.4%, Bahrain (.BAX) eased 0.2%, Oman added 0.6%, while Kuwait rose 0.6%.
COMMODITIES
GOLD
Gold prices edged lower as investors engaged in profit-taking following recent gains. Spot gold was down 0.3%, trading at $3,038.79 per ounce by 11:38 a.m. EDT (1538 GMT). Meanwhile, U.S. gold futures settled 0.1% higher at $3,043.80 per ounce.
OIL
Oil prices rose with both Brent crude and U.S. West Texas Intermediate (WTI) gaining after US issued new Iran-related sanction. Brent crude futures climbed $1.12 (1.58%) to $71.90 per barrel. WTI crude (April contract), set to expire on Thursday, rose $1.07 to $68.23 per barrel.
