ASIA/PACIFIC
Asian markets ended Thursday on a mixed note, with mainland Chinese and Hong Kong shares rising after U.S. President Donald Trump signaled that the reciprocal duties set to be announced next week would be “very lenient.” He also suggested that tariffs on China might be reduced to facilitate a deal involving the sale of ByteDance Ltd.’s social video platform TikTok to an American company. China’s Shanghai Composite Index edged up by 0.2%, while Hong Kong’s Hang Seng Index advanced 0.4%, supported by renewed optimism over U.S.-China trade dynamics. In contrast, Japan’s Nikkei 225 Index fell 0.6%, and Australia’s S&P/ASX 200 Index slipped 0.4%, snapping a five-session winning streak.
EUROPE
European stock markets closed in negative territory, as investor sentiment was rattled by new tariff threats from U.S. President Donald Trump. Speaking on Wednesday, Trump announced a 25% tariff on “all cars that are not made in the United States,” set to take effect on April 2, and warned of potentially “larger” levies aimed at the European Union and Canada. The pan-European Stoxx 600 Index declined by 0.44%, reflecting broad-based weakness across the region. National indices also posted losses: The U.K.’s FTSE 100 fell 0.74, Germany’s DAX dropped 0.89% and France’s CAC 40 ended 0.57% lower. Automotive and export-reliant sectors were among the hardest hit, as traders weighed the potential impact of rising transatlantic trade tensions.
AMERICAS
Major U.S. stock indices closed in negative territory as markets reacted sharply to Trump’s announcement of fresh tariffs targeting foreign automobile manufacturers. The move raised fears of intensified trade disputes, particularly with the European Union and Canada. The policy shift overshadowed an upward revision to the country’s fourth-quarter GDP, which might have otherwise provided a boost to investor confidence. The S&P 500 decreased by 0.3%, the Dow Jones Industrial Average dropped by 0.4% and the Nasdaq Composite fell by 0.5%.
AFRICA
EGX30 climbed 0.9%. The Egyptian Cabinet approved a draft state budget of 4.6 trillion Egyptian pounds ($91 billion) for the next financial year starting in July, according to an official statement released Wednesday. The expansionary budget aims to stimulate growth and support public services.
MIDDLE EAST
Most stock markets in the Gulf region ended higher on Thursday, supported by rising oil prices. Saudi Arabia’s benchmark index advanced 0.5%, boosted by a 0.4% gain in Saudi Aramco, following reports that the oil giant is in talks to invest in two planned refineries in India, according to Reuters. In the UAE, Dubai’s main index inched up 0.1%, while Abu Dhabi’s index added 0.2%. Meanwhile, Qatar’s benchmark index closed 0.5% higher. The region’s performance defied broader global market turbulence, aided by Brent crude holding above $74 per barrel and steady regional sentiment.
COMMODITIES
GOLD
Spot gold jumped 1.1% to settle at $3,052.24, while U.S. gold futures rose 1.5% to $3,066.60. The surge was driven by growing demand for safe-haven assets, as investors reacted to escalating global trade tensions and sharp losses in equity markets worldwide. Renewed tariff threats and geopolitical uncertainty prompted traders to hedge against further volatility, reinforcing gold’s role as a reliable store of value during turbulent times.
OIL
Brent crude futures rose 24 cents, or 0.3%, to settle at $74.03 per barrel. U.S. West Texas Intermediate (WTI) crude gained 27 cents to $69.90 as traders weighed ongoing supply dynamics against the backdrop of rising trade war risks. While gains were limited, sentiment was supported by concerns over potential disruptions in key producing regions and steady demand expectations.
