Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Nikkei 225 Hits Record High Above 56,000 After Japan Election Boosts Market Confidence 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Xi Jinping Congratulates Trump on 2024 Election Win
Chinese President Xi Jinping extended congratulations to Donald Trump following his victory in the 2024 U.S. presidential election, according to a report from Chinese state media Xinhua.
Diplomatic Communication Between Xi and Trump
A Chinese foreign ministry spokesperson had offered similar congratulations on Wednesday. Reports from CNN also indicated that Xi and Trump held a phone conversation, where the Chinese leader emphasized the importance of strengthening communication between the two nations.
Calls for US-China Cooperation Amid Tensions
In his statement, Xi highlighted the need for a new era of cooperation between China and the United States. He stressed the importance of managing differences appropriately while fostering mutual collaboration on various global issues.
Potential Trade War Concerns
Despite Xi’s conciliatory message, Trump’s campaign rhetoric raised concerns about future trade relations. Trump had threatened to impose tariffs of up to 60% on Chinese imports, a move that could reignite a trade war between the world’s largest economies.
