Indian manufacturers in May saw an improvement in output, S&P Global said Monday.
The latest seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index stood at 55.0 in May, compared with 54.7 in April and the consensus estimate of 54.3 from Investing.com.
S&P attributed the rise in activity to quicker increases in buying levels, new orders, and output relative to April, with stockpiling gaining.
National home values in Australia flatlined in May as the housing cycle continued to soften in most markets, with Sydney and Melbourne leading the downturn, Cotality said in a Monday report.Cotality's national home value index was unchanged in May, with headwinds including higher interest rates and a shifting tax policy tilting toward weaker demand.Dwelling values in Sydney and Melbourne declined 0.9% and 0.8%, respectively, in May to land roughly 2% and 3% below cyclical highs seen in November 2025. Values also fell across the the Australian Capital Territory but at a comparatively slower pace, according to the report.While values continued to increase in other state capitals, including by 1.5% in Perth and Darwin, the growth is clearly losing steam, Cotality said."While the speed of value change remains very different from city to city, the direction is becoming more consistent, with most markets losing momentum as demand-side headwinds intensify," Cotality research director Tim Lawless said.The report noted that the slowdown in housing demand also shows up in home sales data. The estimated volume of national home sales during the past three months was tracking over 2% lower than a year earlier and about 4% below the five-year average.
Japan deployed a record 11.73 trillion yen in market intervention over the four weeks through May 27 to prop up the yen after the currency tumbled past 160 per dollar, Bloomberg News reported on Saturday, citing Finance Ministry data.The total exceeded market expectations based on central bank flow data, and marked the government's first such action since 2024, said the news wire.A strategist at SMBC Nikko Securities noted that even with undisclosed action, the yen's continued weakness may strengthen arguments about the limitations of unilateral intervention, the publication said.More precise details on the timing and size of each operation are expected in early August when the ministry releases second-quarter figures, the report said.Next week's reserves data could reveal whether Japan sold US Treasury holdings to fund the purchases, a move that might concern US Treasury Secretary Scott Bessent due to potential upward pressure on American yields, it added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Westpac Banking (ASX:WBC, NZE:WBC) said its customers are spending a total average of AU$5.6 million per month on artificial intelligence (AI) tools, citing card transactions data, according to a Monday statement.Individually, customers are spending an average of AU$37 per month on AI subscriptions as of March. Overall, customers spend around AU$6.7 billion annually on subscriptions.Over 150,000 retail customers are paying for at least one AI subscription each month as of March, up from 11,000 customers who were paying for AI services as of March 2023. This represents an increase of 1,284%.