ASIA/PACIFIC
Asian markets displayed mixed performance on Friday, driven by uncertainty surrounding the U.S. economic outlook. Hong Kong’s Hang Seng Index plunged 2.19%, and mainland China’s CSI 300 fell 1.52%, ahead of key earnings releases from major banks and consumer firms. Japan’s Nikkei 225 declined 0.2%, influenced by a weakening yen and subdued core inflation data, which nonetheless signaled continued pressure for potential Bank of Japan policy normalization. Australia’s S&P/ASX 200 bucked the trend, rising 0.16%, led by strong gains in mining and consumer staples sectors.
EUROPE
European equities trended lower amid growing global economic concerns stemming from geopolitical tensions. The Pan-European Stoxx 600 closed down 0.56% as London’s Heathrow Airport faced disruptions due to a nearby electrical substation fire, while Germany’s upper house approved a €500 billion spending package. The Bank of Russia maintained its interest rate at 21%.
AMERICAS
U.S. stock markets experienced modest gains. The S&P 500 edged up by 0.1% while the Dow Jones Industrial Average also rose by 0.1%. The Nasdaq Composite advanced by 0.5%. These slight upticks came despite ongoing market volatility driven by economic uncertainties, trade tensions, and inflation concerns.
AFRICA
Ethiopia reached an agreement in principle with official creditors regarding its debt restructuring, following its December 2023 Eurobond default. The country is utilizing the G20’s Common Framework for this process.
MIDDLE EAST
Dubai’s index fell 0.6% to a near-three-month low, pressured by significant declines in Dubai Islamic Bank (down 4%) and Gulf Navigation Holding (down 9.8%) amid rising geopolitical tensions. Abu Dhabi’s index remained nearly flat, up 0.004%, supported by a 1% gain in Emirates Telecommunications Group (E&).
COMMODITIES
GOLD
Spot gold declined 1.4% to $3,001.03 per ounce, impacted by a stronger U.S. dollar. U.S. gold futures fell 1.2% to $3,007.80. Despite the daily drop, gold recorded a weekly gain of 0.7%.
OIL
Brent crude futures rose 0.6% to $72.40 per barrel, and U.S. West Texas Intermediate crude futures increased 0.6% to $68.52 per barrel.
