ASIA/PACIFIC
Markets across Asia closed mixed on Monday, as traders awaited clarity on the upcoming round of U.S. tariffs set for April 2. China’s Shanghai Composite edged up 0.2%, while Hong Kong’s Hang Seng climbed 0.9% after Premier Li Qiang warned of “rising instability” and urged nations to open up their marketsJapan’s Nikkei 225 slipped 0.2%, with data showing a contraction in business activity for the first time in five months. Australia’s ASX ended flat despite strong banking sector gains and upbeat Judo Bank PMI results.
EUROPE
European equities ended slightly lower following the release of composite PMI figures from Germany, the Eurozone, and the U.K. The pan-European Stoxx 600 fell 0.04%. U.K.’s FTSE 100 slipped 0.10%. France’s CAC 40 edged down 0.02%. Germany’s DAX stood out, rising 0.19%.
AMERICAS
Wall Street rebounded strongly at the start of Monday’s session, as reports indicated the upcoming U.S. tariffs may be less disruptive than initially feared. Rather than targeting specific sectors, the measures are expected to be mostly reciprocal, alleviating concerns for global manufacturers and exporters.
AFRICA
Egypt’s EGX30 blue-chip index dropped 0.4%, despite the Central Bank of Egypt posting a net profit of EGP 133.4 billion in February, up from EGP 123.9 billion in January. In Ghana, newly appointed central bank governor Johnson Asiama emphasized the importance of tightening policy to curb inflation, which remains elevated at over 23%.
MIDDLE EAST
Gulf markets were mixed with heightened regional geopolitical tensions affecting some stocks. Saudi Arabia’s benchmark index gained 0.7%, Dubai’s main share index added 0.3%, The Qatari index dropped 0.8%. Saudi energy giant Saudi Aramco is looking to identify additional investment opportunities in China as part of its key global strategy, President and CEO Amin H Nasser told the China Development Forum in Beijing.
COMMODITIES
GOLD
Spot gold fell 0.4% to $3,010.33 an ounce. U.S. gold futures edged down 0.2% to $3,015.50 as investors took stock of U.S. President Donald Trump’s more cautious stance on tariffs against trading partners.
OIL
Brent crude futures rose 61 cents, or 0.85%, to $72.77 a barrel by 1:15 p.m. ET. U.S. West Texas Intermediate crude was up 59 cents, or 0.86%, at $68.87 as U.S. President Donald Trump said he will impose 25% tariff on countries that buy oil, gas from Venezuela, and on the back of new U.S. sanctions on Iranian exports.
