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The S&P/TSX Composite Index fell over 0.5% to trade near 35,500 on Wednesday after closing at a record high in the previous session, as investors assessed the Federal Reserve's latest policy decision. The Fed left interest rates unchanged, as expected, but three FOMC members favored a rate hike. Also, oil prices extended gains as tensions in the Middle East escalated following joint US-Saudi strikes in Iraq, fueling inflation concerns. Bond yields moved higher, pressuring banks and the broader index. RBC, TD Bank, BMO, CIBC, and Scotiabank each lost about 2%. In contrast, mining stocks rebounded alongside gold prices. Agnico Eagle and WPM gained about 1%, while Franco-Nevada rose 2%. Energy stocks also advanced on stronger crude prices, with Canadian Natural and Cenovus adding nearly 4% each. Cenovus also reported stronger second-quarter revenue and profit.

EGX 30 index closed at 53,729.97 points, recording an increase of 0.18%. EGX70 EWI index posted 0.97% gain concluding the day at 18,300.85 points, while EGX100 EWI index rose by 0.62% and concluded the day at 24,133.04 points.

EGX 33 Shariah Index rose by 0.16% and concluded the day at 6,057.05 points . EGX 30 index capped declined by 0.01% and concluded at 65,570.1 points.

Total market capitalization reached EGP 3,958.6 billion at end of day, representing an increase of 0.1% over the day, as presented in the below table.

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US stocks held most of their losses on Wednesday on further fragility for chip producers ahead of major tech earnings, while the Federal Reserve held rates unchanged. The S&P 500 and the Dow were slightly lower, while the Dow fell nearly 700 points. Microsoft and Meta were muted ahead of their earnings reports after the bell, the latest signal for AI infrastructure spending. Concerns that AI capital expenditure is being overdone recently pressured Magnificent 7 stocks and triggered a selloff for chip producers that trimmed their surge late last quarter. Micron, Applied Materials, and Sandisk sank between 2% and 5% amid the pessimistic results by SK Hynix. Meanwhile, the Fed held rates unchanged in the least certain meeting in the last 15 years, featuring three dissents for a hike. The Dow was pressured by a flare-up in oil prices following fresh strikes between Iran and the US, adding to pro-inflationary risks. Visa rebounded and gained 1% after posting growth in revenue last quarter.

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Japan plans to temporarily cut its sales tax on food and drinks to 1% for two years, Bloomberg reported. The government chose a low positive rate instead of zero to avoid the costly, time-consuming reprogramming of retailers’ cash registers; a 0% rate would take about a year to implement, while 1% could halve that timeline. To take effect in April 2027, the measure must still be legislated and passed by the Diet (parliament), with draft legislation expected in an extraordinary session in autumn 2026. Policymakers hope the measure will ease household burdens, though economists warned that prices may not fall as much as expected, limiting the benefit for consumers.

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The Nikkei 225 Index fell 1.49% to close at 61,434 on Wednesday, extending the previous session’s losses as technology stocks remained under heavy selling pressure amid persistent concerns over the sustainability of the artificial intelligence trade. Japanese equities also followed Wall Street lower after chipmakers led overnight declines in the US market. Among the biggest technology losers were Kioxia Holdings (-13.9%), Tokyo Electron (-10.6%), SoftBank Group (-7%), Murata Manufacturing (-12.9%), and Taiyo Yuden (-12.4%). Financial stocks also stayed under pressure, with Mitsubishi UFJ (-0.4%), Sumitomo Mitsui (-0.8%), and Mizuho Financial (-1.2%) posting notable losses.

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The Shanghai Composite rose 0.4% to close at 3,828.5 on Wednesday, while the Shenzhen Component gained 1.1% to 13,658.4, as a rebound in select tech stocks offset concerns over escalating tensions in the Middle East.Among notable decliners were PetroChina (-1.9%), Bank of China (-1.5%), and China Life Insurance (-2.0%). Meanwhile, select technology stocks rebounded from recent losses, including Cambricon Technologies (1.7%), Zhongji Innolight (4.7%), and Eoptolink Technology (3.5%). However, weakness persisted elsewhere in the sector, with SMIC (-4.2%), Hygon Information Technology (-4.8%), and Victory Giant Technology (-4.1%) declining amid concerns over elevated valuations and AI-related spending. Investors are now looking ahead to the Politburo meeting later this week for fresh policy signals.

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The People's Bank of China (PBoC) injected CNY 806.5 billion into the banking system through reverse repo operations on Wednesday, July 29, 2026, to maintain ample liquidity at month-end. The central bank supplied CNY 206.5 billion via seven-day reverse repos at an unchanged interest rate of 1.40%, while adding another CNY 600 billion through overnight reverse repos at a borrowing cost of 1.25%, unchanged from the prior operation in late June. The move followed the PBoC's announcement last week that it would conduct overnight reverse repo operations from July 29 to 31 and again on August 3, injecting a total of CNY 2.1 trillion through the short-term liquidity tool. The operations reflect the central bank's continued efforts to stabilize money market conditions and ensure sufficient cash in the banking system during a period of typically elevated funding demand at the end of the month.

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South Korea’s KOSPI Composite Index tumbled more than 10% on Wednesday, extending the previous session’s nearly 11% slump and falling to its lowest level since early April as the selloff in semiconductor stocks intensified amid mounting concerns over artificial intelligence spending and elevated valuations. Among individual companies, SK Hynix plunged more than 10% after the chipmaker reported another record quarterly profit but missed analyst expectations. Technology-heavy benchmark indexes in Japan and China also traded lower, while markets in Australia and Hong Kong outperformed the broader regional trend.

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New Zealand's stocks rose 115 points, or 0.8%, to close at a record high of 13,977 on Wednesday, marking their third consecutive record close, with almost all sectors trading in the green. The gains were mainly driven by materials, healthcare, consumer staples, and communication services. Traders maintained momentum as they braced for the upcoming earnings season next month, though oil prices rebounded amid renewed escalation of the conflict in the Middle East and the global tech selloff. However, traders remained cautious ahead of the Fed's interest rate decision later today. The top performer was AFT Pharmaceuticals (7.6%) after the company said its portfolio of projects opened the business up to multi-billion-dollar market opportunities. Other notable gainers were Ebos Group (4.6%), Fisher & Paykel Healthcare (2.5%), Chorus (2.5%), Delegat Group (1.7%), A2 Milk (1.4%), Mercury NZ (1.2%), Auckland International Airport (0.9%), and Infratil (0.9%).

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The TAIEX, Taiwan's benchmark stock index, plunged 1,564 points, or 3.8%, to close at 40,039 on Wednesday, down for the fourth consecutive session and marking its lowest level since May 20, as a global selloff in chipmakers continued to weigh on technology heavyweights. Growing concerns over revenue amid heavy AI investments weighed on sentiment after the Philadelphia Semiconductor Index shed 4.5% overnight. The broader index tracked losses in US stock futures ahead of the Fed's monetary policy decision amid rising oil prices due to the escalating conflict in the Middle East. Electronic technology stocks slumped 4.5%, after falling 5.3% in the previous session, with TSMC, the world's largest contract chipmaker, accounting for more than 40% of the market's total value, declining 2.2% following a 3.0% drop a day earlier. Meanwhile, ASE Technology Holding, Delta Electronics, and MediaTek slumped 9.9%, 7.9%, and 7.5%, respectively.

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Australia's ASX 200 jumped 91 points, or 1.0%, to end at 9,039 on Wednesday, extending gains for a third session and reaching its highest level since early March. Softer CPI data eased pressure on the Reserve Bank after three hikes earlier this year.Nearly all sectors advanced, led by healthcare, retail, consumer services, and consumer non-durables. Rio Tinto rallied 3.7% on its strongest first-half earnings in four years and its largest interim dividend since 2022. CSL surged 7.2% after announcing trials of a new immunoglobulin manufacturing process. Woodside Energy rose 1.4% as Q2 revenue jumped 28% and full-year guidance was narrowed. In contrast, three of the four major banks were subdued, with only ANZ Group managing a gain, rising 1.4%.

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Indian stocks closed sharply higher on Wednesday with strong support from tech companies, offsetting the impact of higher energy prices. The S&P/BSE Sensex gained 1.2% to 77,655 and the NSE Nifty 50 rose 1.1% to 24,250. Technology and software companies led the gains as markets took advantage of their lower valuations following the sector's selloff in recent sessions. The selloffs took place in tandem with North American software counterparts amid concerns that improving AI technologies would reduce demand for proprietary software. The tech sector was due to be tested again ahead of Meta and Microsoft earnings in the US overnight, while the Fed decision could impact companies with large exposure to US credit markets. Infosys jumped 4.5% while Eternal, TCS, and HCL Tech rose over 1.5%. Meanwhile, Larsen and Toubro rose by 2.6% after posting their earnings.

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The FTSE 100 rose 0.3% to 10,908 on Wednesday, approaching a record high seen on February 27. Rio Tinto gained around 1.3% after reporting a sharp rise in second-quarter profit and outlining plans to further reduce costs and strengthen cash generation. Standard Chartered advanced 3.8% as the bank posted better-than-expected quarterly earnings and announced a new share buyback. Reckitt was among the top performers, surging 4.3% after quarterly sales exceeded forecasts, following similarly upbeat results from Unilever. Glencore also rose more than 2% after forecasting first-half marketing earnings of roughly $3.3 billion. Oil majors BP and Shell rose 3.4% and 2.8%, respectively, as Brent crude rebounded amid renewed geopolitical tensions. Meanwhile, Aberdeen Group fell more than 4% on weaker first-half fund flows, while St James’s Place slipped 2.3% despite reporting stronger-than-expected assets under management and continued client inflows.

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The DAX 40 was little changed at 25,449 on Wednesday, in a volatile session, as a strong batch of corporate earnings helped offset renewed geopolitical tensions.Among individual stocks, Rheinmetall surged nearly 7% after reporting sharp increases in revenue and operating profit, driven by strong defense demand. BASF gained 3.8% after announcing a new share buyback program, while Siemens Healthineers rose 4.7% as upbeat results from US peer GE Healthcare boosted the sector. Deutsche Bank advanced 1.1% after posting record second-quarter profits, while RWE was nearly flat after raising its outlook for 2026 and 2027 following a stronger-than-expected first half.

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The Federal Reserve left the federal funds rate unchanged at 3.50%–3.75% for a fifth consecutive meeting in July 2026, in line with expectations, despite markets assigning roughly a one-in-three probability to a rate hike. Notably, three FOMC members dissented, preferring to raise the policy rate by 25 basis points.The central bank noted that economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East. Productivity growth and capital investment are strong. Job gains have kept pace with the workforce, and the unemployment rate has changed little. Inflation remains elevated relative to the 2% goal, in part reflecting supply shocks that have driven price increases in certain sectors, including energy.