ASIA/PACIFIC
Asian shares finished mixed on Thursday, with concerns over tariffs influencing market movements. The Shanghai Composite Index in China increased by 0.2%, and Japan’s Nikkei 225 rose 0.3%. Conversely, Hong Kong’s Hang Seng Index declined by 0.3% as tech stocks paused after Nvidia’s positive earnings forecast, amid worries about U.S. tariffs on semiconductors and key exports. Meanwhile, Australia’s market ended its losing streak, boosted by gains in Qantas, Medibank, and Coles shares.
EUROPE
European markets closed lower, affected by U.S. President Donald Trump’s announcement to impose a 25% tariff on European cars and goods to address alleged trade imbalances. The Stoxx 600 index fell by 0.51%. Consumer confidence figures in the Eurozone failed to surprise expectations. The European Central Bank (ECB) refrained from providing a clear outlook on inflation or future interest rate adjustments.
AMERICAS
Major Wall Street indices ended the day in negative territory, driven by disappointing U.S. economic data and a significant drag from tech stocks. The Nasdaq Composite, which is heavily weighted toward technology, tumbled 2.8%, marking its largest single-day decline in a month. Meanwhile, the S&P 500 dropped 1.6%, and the Dow Jones Industrial Average fell 0.5%. Notably, Nvidia shares plummeted 8.5%, their steepest post-earnings decline since November 2018, despite the AI chipmaker reporting better-than-expected results.
AFRICA
Egypt’s blue-chip index edged down by 0.1%, with Commercial International Bank dropping 1.1%. Minister of Investment and Foreign Trade Hassan El-Khatib announced plans at the Investopia 2025 conference in Abu Dhabi to integrate state-owned enterprises into Egypt’s sovereign wealth fund, TSFE, allowing the private sector to manage them, aiming to enhance returns on valuable assets and boost listings in the coming years.
MIDDLE EAST
Gulf stock markets closed lower. Saudi Arabia’s market extended losses for a third consecutive session due to a slowdown in corporate earnings. In Dubai, top lender Emirates NBD supported the index, while Abu Dhabi’s index fell 0.3%, weighed down by a 1.2% drop in ADNOC Gas. Notably, the Abu Dhabi Securities Exchange (ADX) introduced “the New ADX Group” market infrastructure along with two new subsidiaries: Abu Dhabi Clear (AD Clear) LLC and Abu Dhabi Central Securities Depository (AD CSD) LLC. The Qatari index dipped 0.5%, driven by a 2.1% decline in Qatar Islamic Bank. Kuwait’s market was closed for a public holiday. Moody’s revised Oman’s banking sector outlook to “positive” from “stable,” reflecting improved operating conditions and loan quality.
COMMODITIES
GOLD
Spot gold prices decreased by 1.2% to $2,882.49 an ounce, and U.S. gold futures also dropped 1.2% to $2,894.50.
OIL
Brent crude oil futures climbed $1.20, or 1.65%, to $73.73 a barrel by 9:23 a.m. ET. U.S. West Texas Intermediate crude oil futures advanced $1.28.
