World markets were mixed on Monday as investors turned cautious ahead of the United Nations General Assembly in New York, where world leaders are set to address the crisis in Gaza and the recognition of the State of Palestine. Trading sentiment was shaped by both geopolitical tensions and key economic data releases expected later this week.
ASIA/PACIFIC
Asian equities delivered a mixed performance. China: The Shanghai Composite edged up 0.2% as senior U.S. lawmakers arrived in Beijing for talks with President Xi Jinping’s government. Hong Kong: The Hang Seng fell 0.8%, pressured by a 2.3% drop in BYD Co. after reports that Warren Buffett’s Berkshire Hathaway exited its entire stake. Japan: The Nikkei 225 rebounded strongly, up 1%, reversing last week’s losses. Australia’s S&P/ASX 200 gained 0.4%, led by gold miners, after the RBA signaled the economy is back in a cyclical upturn.
EUROPE
European stocks closed mostly lower, weighed down by auto sector weakness. France’s CAC 40 slipped 0.30%, dragged by Stellantis NV (-2.64%). Germany’s DAX fell 0.49%, with Porsche (-8.22%) among the steepest decliners. Eurozone’s Euro Stoxx 50 lost 0.30%, hit by a 6.91% drop in Volkswagen AG. In contrast, the FTSE 100 in London managed a 0.11% gain, supported by Endeavor Mining (+6.72%).
AMERICAS
U.S. stocks closed at fresh record highs supported by dovish remarks from newly appointed Fed governor Stephen Miran, who played down tariff-driven inflation concerns and signaled interest rates could fall below 3% by year-end. The Nasdaq Composite gained 0.7%, lifted by news of a landmark AI infrastructure partnership between OpenAI and NVIDIA and confirmation that Oracle will join a consortium overseeing TikTok’s U.S. operations. The S&P 500 advanced 0.4%, while the Dow Jones edged up 0.1%.
AFRICA
African markets trended downward: South Africa’s FTSE/JSE All Share slipped 0.14%, Nigeria’s NGX All Share lost 0.24% while Egypt’s EGX30 eased 0.1%, pulled lower by a 1% drop in Commercial International Bank.
MIDDLE EAST
Gulf Gulf markets were steady to higher, following U.S. Fed-driven regional rate cuts: Saudi Arabia’s Tadawul rose 0.6%, its fifth consecutive gain, led by IT and financial stocks. Dubai’s DFM gained 0.1%. Abu Dhabi’s ADX added 0.1%, boosted by ADNOC Drilling (+1.7%). In Qatar, the QE Index fell 0.4% on broad-based declines. Bahrain was up 0.3%, Kuwait rose 0.1%. Oman fell 0.2% and Israel’s TA-35 slid 1.58%, underperforming the region.