April 2026

• Global markets advanced in April as easing monetary policy, resilient corporate earnings and continued artificial intelligence-related investment supported investor confidence.
• Technology and semiconductor sectors remained dominant market leaders across global equities.
• Central banks maintained gradual policy easing as inflation remained close to long-term targets in most developed economies.
• Bond yields declined modestly, supporting growth-oriented sectors and broader financial conditions.
• Chinese economic conditions continued stabilising amid ongoing fiscal support and improving domestic demand.
• Commodity prices delivered mixed performance amid balanced global growth expectations and geopolitical uncertainty.

Asia (ex. Japan)

Asian markets outside Japan delivered positive performance during April as sustained semiconductor demand and improving Chinese economic activity supported investor sentiment across the region.

Taiwan and South Korea remained among the strongest-performing markets due to continued artificial intelligence infrastructure investment and strong technology sector earnings.

Europe

European equities advanced during April as lower borrowing costs and stable inflation supported improving financial conditions across the region.

Consumer and financial sectors benefited from easing monetary policy, while industrial activity showed tentative signs of stabilisation in several eurozone economies.

United States

U.S. equities reached additional highs during April as strong technology earnings and sustained artificial intelligence-related investment momentum continued supporting market leadership.

Investors remained optimistic regarding the broader economic outlook as lower interest rates and resilient employment conditions supported corporate profitability and consumer spending.

United Kingdom

UK equities delivered positive performance during April as easing inflation and improving financial conditions supported investor confidence.

Consumer spending and housing-related sectors benefited from lower borrowing costs and improving household sentiment.

Japan

Japanese equities remained strong during April as exporters, industrial firms and semiconductor-related companies benefited from resilient global demand and continued foreign investment inflows.

Markets remained focused on gradual Bank of Japan policy normalisation while maintaining confidence in long-term corporate earnings growth.

Emerging Markets

Emerging markets delivered positive performance during April as improving global liquidity conditions and stabilising Chinese growth supported capital inflows into higher-risk assets.

Technology-oriented Asian economies remained key outperformers due to sustained semiconductor and artificial intelligence-related investment demand.

Commodities

Commodity prices delivered mixed results during April. Oil prices remained relatively stable as balanced global supply and demand conditions offset geopolitical uncertainty.

Industrial metals remained supported by infrastructure and technology investment demand, while gold prices stayed elevated due to lower interest rates, central bank buying and ongoing geopolitical risks.