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China's manufacturing sector contracted for the fifth straight month, causing Chinese stocks to decline. This slowdown rippled through global markets, with European shares falling and Wall Street futures dipping. Commodities dependent on Chinese demand suffered, with oil prices dropping over 2%. Investors are watching for potential stimulus measures from Chinese policymakers to boost recovery. The weak performance contrasts with stronger manufacturing data from the US and Eurozone, highlighting China's specific economic challenges.

Global markets opened cautiously in September following disappointing Chinese factory data showing contraction in August. Asian stocks traded mixed while the Chinese yuan approached multi-month lows against the dollar. Investors remain wary ahead of critical US economic releases that could impact Federal Reserve decisions. Meanwhile, oil prices slightly increased on potential OPEC+ supply cuts, and gold held steady. Market participants are closely monitoring Beijing's policy responses and global economic indicators amid concerns about China's slowdown affecting worldwide growth and trade.

G42, an Abu Dhabi-backed tech firm, is diversifying its AI chip suppliers beyond Nvidia for a major UAE-US AI campus, engaging with AMD, Cerebras Systems, and Qualcomm. The company is in negotiations with tech giants including AWS, Microsoft, Meta, Google, and xAI as potential anchor tenants. Announced in May as part of a US-UAE partnership, the facility aims to deliver up to five gigawatts of computing power, positioning the UAE as a global AI hub. The project incorporates a "digital embassies" concept, offering secure frameworks for foreign governments to store critical data. This initiative comes amid global AI market expansion, with the UAE continuing to drive AI adoption across its economy.

Global markets declined as China's manufacturing data unexpectedly showed contraction in August, with factory PMI falling to 49.7 against an expected 51.0. Asian indices including Chinese, Hong Kong, and Japanese stocks all dropped. Investors moved to safe-haven assets, strengthening the US dollar to a seven-week high. The data highlights ongoing challenges in China's economic recovery despite stimulus efforts.