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UAE Equities Close Lower Ahead of Key US Economic Data

Trading in the United Arab Emirates ended in the red as markets await the release of a key US economic report later in the day.At the close of Thursday trading, the FTSE ADX General Index was down 0.330%, while the DFM General Index shed 1.45%.The US Bureau of Economic Analysis will release personal consumption expenditures price index data, which is the Federal Reserve's preferred measure of inflation, for February on Thursday."After rising 0.3% in January and 2.8% on an annual basis, the PCE is expected to increase 0.4% in February and 2.8% year-over-year, potentially matching the annual increase at the start of the year," Stifel said in a note. "Excluding food and energy costs, the core PCE is also expected to increase 0.4% in February and 3.0% on an annual basis, potentially marking the smallest annual rise since December."On the geopolitical front, oil prices rose again amid worries of a fragile ceasefire deal between the US and Iran. Israel launched fresh strikes on Lebanon, with Iran stating that the attacks halted the passage of oil tankers through the Strait of Hormuz.Also dampening sentiment was US President Donald Trump's threats to impose an immediate 50% tariffs on countries supplying weapons to Iran, Reuters reported.Back home and on the corporate front, stocks of Two Point Zero Group (ADX:2POINTZERO) closed the session 2.89% in the red. The investment company's subsidiary, E Point Zero Holding, created a joint venture with Adani Green Energy to develop renewable energy projects in India.Dubai-listed Emirates Integrated Telecommunications (DFM:DU), d/b/a du, secured a new 2 billion-Emirati-dirham facility for general corporate purposes with local and international lenders. Shares of the telecommunications company closed the session 1.54% lower.

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Asia Markets75d ago

Persian Gulf Uncertainty Damps European Bourses Midday

European bourses tracked moderately lower midday Thursday as traders weighed Persian Gulf hostilities, rising oil prices, and an uncertain Strait of Hormuz opening.Oil stocks led gains on continental trading floors, while bank and tech shares lagged.Investors also eyed Wall Street futures in the red, and lower closes overnight on Asian exchanges.In other news, the US and Iranians are set for direct negotiations in Pakistan over the weekend, reported Turkey's Anadolu Agency, citing officials in Islamabad.The pan-continental Stoxx Europe 600 Index was off 0.7% mid-session.The Stoxx Europe 600 Technology Index was down 1.7%, and the Stoxx 600 Banks Index lost 0.6%.The Stoxx Europe 600 Oil and Gas Index rose 1.2%, while the Stoxx 600 Europe Food and Beverage Index declined 0.8%.The REITE, a European REIT index, fell 0.7%.On the national market indexes, Germany's DAX was down 1.3%, and the FTSE 100 in London lost 0.4%. The CAC 40 in Paris was down 0.9%, and Spain's IBEX 35 eased 0.8%.Yields on benchmark 10-year German bonds were higher, near 2.98%.Front-month North Sea Brent crude-oil futures were up 4.1% at $98.63 a barrel.The Euro Stoxx 50 volatility index was up 1.2% at 25.01, indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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Asia Markets75d ago

Oil, Ceasefire Views Damp Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed moderately lower pre-bell Thursday, as traders weighed rising oil prices and sought clarity on Persian Gulf war outlooks.The Strait of Hormuz apparently remained closed to the vast majority of oil tanker traffic early Thursday.In the futures, the S&P 500 fell 0.4%, the Nasdaq declined 0.4% and the Dow Jones was off 0.4%.West Texas Intermediate crude oil traded higher at $99.35, up 5.2% in morning trades.Investors also await the personal consumption expenditures-core (PCE-core) price index for February, slated for release in Washington at 8:30 am ET. The Federal Reserve's preferred inflation metric may provide clues to price pressures, but before the Middle East turmoils of March.Asian exchanges traded mostly lower overnight, while European bourses tracked moderately south midday on the continent.On the economic calendar, in addition to the PCE-core report, is the revised Q4 GDP bulletin, the weekly jobless claims bulletin, the February personal income and outlays report, and the Q4 corporate profit release, all at 8:30 am ET.In premarket action, Bitcoin traded at $71,431 and 10-year US Treasuries offered 4.28%. Spot gold commanded $4,740 an ounce.

Dow JonesNasdaq CompositeS&P 500

Asia Markets75d ago

Indian Equities Slip on Thursday Amid Rising Middle East Tensions

Indian equity benchmarks ended lower on Thursday as renewed geopolitical tensions and rising crude oil prices weighed on sentiment.The BSE Sensex fell 1.2%, or 931.25 points, to finish Monday's session at 76,631.65, while the NSE Nifty 50 slipped 0.9%, or 222.25 points, to 23,775.10.Investors were cautious after fresh Israeli strikes in Lebanon reduced hopes for a two-week U.S.-Iran ceasefire and reopening of the Strait of Hormuz.Canara Bank's (NSE:CANBK, BOM:532483) board has extended Hardeep Singh Ahluwalia's additional charge as managing director and CEO for three months until June 30.Dilip Buildcon (NSE:DBL, BOM:540047) joint venture DBL-RBL won a 2.68-billion-rupee contract from the Gujarat government. The project covers the design and construction of the Ged Barrage across the Sabarmati River, including protection and allied works.

^BSENifty 50BOM:532483BOM:540047NSE:CANBKNSE:DBL

Asia Markets75d ago

Middle East War Uncertainty Caps Asian Stock Markets

Asian stock markets largely fell back Thursday, as traders looked for clarity on the status of the Strait of Hormuz and the Persian Gulf war.Hong Kong, Shanghai, and Tokyo finished in the red, while other regional exchanges were mixed.In Japan, the Nikkei 225 opened evenly but declined in trading, finishing off 0.7% as traders booked profits after Wednesday's rally following reports of a Middle East ceasefire.The benchmark Nikkei 225 fell 413.10 to 55,895.32, as losing issues outnumbered gainers 169 to 54.Leading the upside was Yokogawa Electric, up 4.1%, while retail conglomerate Aeon declined 8.2%.In economic news, Japan's seasonally adjusted Consumer Confidence Index declined to 33.3 in March, down from 39.7 in February, reported the Cabinet Office.Japan's machine tool orders jumped by 28.1% year-on-year in March, driven by a 40.4% surge in offshore demand, reported the Japan Machine Tool Builders Association.In Hong Kong, the Hang Seng Index opened lower and could not recover, closing down 0.5% on ebbing optimism regarding Middle East negotiations.The broad gauge Hang Seng fell 140.62 to 25,752.40 as losing issues outnumbered gainers 53 to 36. The Hang Seng TECH Index lost 2.1% on the day, while the Mainland Properties Index fell 0.3%.Leading the upside was aluminum producer China Hongqiao, gaining 5.2%, while property company Longfor declined 5.6%.On the mainland, the Shanghai Composite fell 0.7% to 3,966.17.On the other regional exchanges, the South Korean KOSPI fell 1.6%; the Taiwan TWSE rose 0.3%; the Australian ASX 200 gained 0.2%; the Singapore Straits Times Index fell 0.4%, and the Thai Set inclined 0.3%. In late trading in Mumbai, the Sensex was down 1.2%.The MSCI All Country Asia Pacific Index fell 0.9% on the day.

Hang SengNikkei 225Shanghai Composite

Asia Markets75d ago

Malaysian Shares Ended Lower, Mirroring Regional Losses; M N C Wireless' Shares Plunge 23%

Malaysian shares closed lower on Thursday, reversing yesterday's gains, mirroring regional losses.Investors turned cautious after Donald Trump reaffirmed plans to keep US forces deployed around Iran until a "real agreement" is secured, ahead of talks in Islamabad, Pakistan.The FTSE Bursa Malaysia KLCI shed 10.07 points to shed 0.6% lower at 1,686.24. The day range was between 1,680.01 and 1,692.65.In economic news, the World Bank projected the Malaysian economy to expand 4.4% in 2026, at a softer pace than 5.2% growth in 2025. The bank highlighted that the country will benefit from surging AI-related exports and investment.In corporate news, shares of M N C Wireless (KLSE:MNC) slumped 23% on Thursday's close after it disclosed plans to launch the e-SIJIL platform, aimed at sectors such as government, finance, education, and legal, to streamline the creation, verification, archiving, and sharing of secure digital documents.

FTSE Bursa Malaysia KLCIKLSE:MNC

Asia Markets75d ago

Singapore Shares Retreat, Track Regional Losses as Markets Asses Fragile US-Iran Ceasefire

Singapore shares closed lower on Thursday, tracking broader regional losses, with markets assessing the longevity of the US-Iran two-week ceasefire.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,974.34 and 5,009.89 throughout the day. It ended the session at 4,977.08, down 18.97 points or 0.4% compared to Wednesday's close.Meanwhile, US President Donald Trump reiterated his resolve to keep its military assets around Iran until a "real agreement" is made ahead of the crunch talks in Islamabad, Pakistan.In company news, shares of InnoTek (SGX:M14) were up nearly 5% at the close, with the company targeting to raise approximately SG$16 million through the placement of up to 24.6 million shares at SG$0.6506 per share.CDW (SGX:BXE) was down over 4% as the precision components provider reported three consecutive years of pre-tax losses for its three most recent financial years.Meanwhile, shares of Parkson Retail Asia (SGX:O9E, HKG:3368) closed nearly 2% higher as it proposed to renew its share purchase mandate at its 2025 annual general meeting.

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Asia Markets75d ago

Hong Kong Stocks Fall As US-Iran Ceasefire On Thin Ice; Two Firms File For IPO

Hong Kong stocks closed lower Thursday as optimism over the Middle East ceasefire faded and signs emerged that the temporary truce between the U.S. and Iran was fraying.The Hang Seng Index fell by around 140.62 points, or roughly 0.5%, to end at 25,752.40, while the Hang Seng China Enterprises Index decreased by 65.48 points, or around 0.8%, to close at 8,611.83.Iran accused Israel of violating the ceasefire agreement Tehran reached with the U.S. earlier this week after Tel Aviv bombed targets in the southern suburbs of Beirut, southern Lebanon and the eastern Bekaa Valley. Israel said the air strikes hit more than 100 Hezbollah command centers and military sites in 10 minutes.U.S. Vice President JD Vance is set to lead a delegation to Islamabad to formalize a peace deal with Iran. The country's parliament speaker Mohammed Bager Qalibaf said a bilateral ceasefire or negotiations were "unreasonable" amid Israeli hostilities.Meanwhile, Hong Kong's private sector firms saw a renewed deterioration in operating conditions in March amid declines in output and total new business, S&P Global said in a monthly report.The reduction came following a historically strong five-month expansion period. Panelists said the Middle East conflict lowered sales amid a dampened consumer confidence and spending, as well as stock market performance.In corporate news, two firms filed to go public in Hong Kong.Chinese cloud-native spatial design software provider Manycore Tech (HKG:0068) is looking to raise up to HK$1.22 billion via the sale of 160.6 million shares at an indicative price range of HK$6.72 to HK$7.62 per share.Net proceeds will be used mainly to support international expansion, including building global sales teams and strengthening marketing across key overseas markets.Meanwhile, Gpixel Changchun Microelectronics (HKG:3277) is seeking to raise about HK$2.60 billion via the sale of offering 65.3 million H-shares at an indicative price of HK$39.88 per share.Net proceeds will be used primarily to fund research and development, including investments in next-generation CMOS image sensor technologies.

Hang SengHKG:0068HKG:3277

Asia Markets75d ago

South Korean Shares Close Lower amid Israel's Beirut Attack, US-Iran Ceasefire Under Strain

South Korean shares closed lower on Thursday after Israel violated the US-Iran truce and attacked Lebanon's capital, Beirut, on Wednesday.Investors remained skeptical about the longevity of the ceasefire amid the recent attack, as Tehran prepares to engage in talks with the US in Islamabad from Friday. The development also clouded the potential reopening of the critical Strait of Hormuz in the near term.The Korea Composite Stock Price Index or Kospi fell 94.33 points, or 1.6%, to end at 5,778.01. The Kosdaq also decreased by 13.85 points, or 1.3%, to close at 1,076.Israel hit Beirut without warning on Wednesday, hours after the US and Iran agreed on a two-week ceasefire. The strikes killed at least 250 people and wounded 890, according to AFP.In corporate news, Hanwha Ocean (KRX:042660) secured an order for two very large crude carriers from an Oceania-based shipowner, according to a Thursday filing with the Korea Exchange. The contract, valued at 393.3 billion won, is valid till Jan. 4, 2030.Shares of Hanwha Ocean fell more than 3% at market close.

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Asia Markets75d ago

Hong Kong Stocks Fall As US-Iran Ceasefire On Thin Ice; Two Firms File For IPO

Hang SengHKG:0068HKG:3277