ASIA/PACIFIC
Asian markets ended mostly higher on Wednesday, buoyed by overnight gains on Wall Street amid hopes that U.S. President Donald Trump’s tariffs may be less aggressive than previously feared. China’s Shanghai Composite Index ended little changed at 3,368.70. Hong Kong’s Hang Seng Index advanced 0.6%. Japan’s Nikkei 225 Index rose 0.7% after Prime Minister Shigeru Ishiba pledged to implement “strong measures” to combat surging prices. South Korea’s Kospi jumped 1.1% as investor sentiment improved following a survey showing business confidence rebounded for the first time in five months. Australia’s S&P/ASX 200 Index gained 0.7% as slowing consumer inflation in February reinforced expectations of further rate cuts ahead.
EUROPE
European stocks mostly declined as markets braced for a potential new wave of U.S. tariffs.
According to CNBC, President Trump may announce tariffs on foreign automobile imports as early as today. The pan-European Stoxx 600 fell 0.7%, with the automotive sector down 2.6%. Germany’s DAX shed 1.15%, and France’s CAC 40 lost 1%. However, the U.K.’s FTSE 100 bucked the trend, gaining 0.3%.
AMERICAS
The U.S. stock market experienced notable declines across major indices. The S&P 500 fell 1.1%, the Dow Jones Industrial Average dropped 0.3%, while the Nasdaq Composite declined 2%. The downturn was primarily driven by significant losses in major technology stocks. The mood remained cautious amid uncertainty surrounding macroeconomic signals.
AFRICA
Egypt’s EGX30 blue-chip index dipped 0.1%. President Abdel Fattah Al-Sisi held a strategic meeting with senior officials to discuss plans for activating the Egyptian Commodity Exchange, aimed at boosting food security and ensuring steady access to essential goods at fair prices, Daily News Egypt reported.
MIDDLE EAST
Gulf markets posted mixed results. Saudi Arabia’s main index jumped 2.3%. Qatar’s benchmark rose 0.3%. Abu Dhabi’s index inched up 0.2%, while Dubai ended flat. Saudi Arabia’s Capital Market Authority proposed a new framework for investor classification on Nomu, the country’s parallel equity market, aiming to broaden accessibility. In 2024, Nomu saw 28 IPOs and 3 direct listings, highlighting growing investor interest.
COMMODITIES
GOLD
Spot gold edged down 0.1% to $3,016.71/oz, while U.S. gold futures settled 0.1% lower at $3,022.50/oz, weighed by a firmer dollar and rising Treasury yields.
OIL
Brent crude futures gained 77 cents (+1.05%), closing at $73.79/barrel. WTI crude rose 65 cents (+0.94%) to $69.65/barrel, supported by declining U.S. crude and fuel inventories and renewed concerns over Venezuelan supply.
