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International

Market Chatter: India to Seek Relief from US for Tariffs that May Arise from Trade Investigations

India is likely to ask the US for relief from any tariffs resulting from the US trade investigations, according to a Bloomberg report on Tuesday, quoting unnamed officials.As per the report, the matter is likely to be raised when negotiators from India and the US trade team, led by chief negotiator Brendan Lynch, meet this week to finalize an interim trade deal.Earlier this year, the US Trade Representative launched investigations under Section 301 of the Trade Act into countries, including India, over issues such as forced labor and excess production capacity. These may attract penalty tariffs if found guilty.The report said India has denied the allegations and asked the US to end the investigations. It is seeking that the US works out the matter within the framework of ongoing bilateral trade negotiations and not through unilateral means.(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.)

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Asia

Market Chatter: South Korea Overtakes India to Become World's Sixth-Largest Stock Market

South Korea's equity market surpassed India to become the world's sixth-largest stock market, owing to a surge in semiconductor stocks, Bloomberg News reported Tuesday.The total market capitalization of South Korea-listed firms jumped 86% so far in 2026 to $5 trillion, while the Indian stock market's total capitalization has decreased to $4.8 trillion, the report said.Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660), both now valued at over $1 trillion, fueled the country's stock market rally through their dominance in AI memory chips, the report said.This helped the Korea Composite Stock Price Index or Kospi, more than double so far this year and pushed South Korea ahead of Canada, Germany, the UK, and France in terms of market capitalization, Bloomberg said.Despite South Korea's larger stock market, India's economy remains considerably bigger at $4.15 trillion as compared to the former's $1.93 trillion, the report said, citing International Monetary Fund estimates.Shares of Samsung Electronics rose 1% while those of SK Hynix declined nearly 3% in recent trade.(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.)

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Asia

Coca-Cola Plans Public Listing of Indian Bottling Unit in 2027

Global beverage giant, The Coca-Cola Company, plans to list Hindustan Coca-Cola Holdings, the parent company of the largest Coca-Cola bottler in India, Hindustan Coca-Cola Beverages, according to an official statement on Monday.The India listing will include the sale of a portion of the Coca-Cola Company's shareholding in Hindustan Coca-Cola Holdings.The company is working on a potential listing on the Bombay Stock Exchange and National Stock Exchange of India in 2027, subject to market conditions and applicable regulatory and other approvals.In 2025, Indian conglomerate ​Jubilant Bhartia Group purchased a 40% stake in Hindustan Coca-Cola Holdings."The Coca-Cola Company will stay invested in this important bottler and focus on growing our portfolio of global and local brands in India," said Sanket Ray, president, India and Southwest Asia and Emerging Large Markets Lead for The Coca-Cola Company.Hindustan Coca-Cola Beverages operates 14 bottling plants across 10 states in India and works with eight co-packers.

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International

India's Industrial Production Grows 4.9% in April

India's industrial production, measured by the Index of Industrial Production, recorded a growth of 4.9% in April, higher than a 3.2% rise in March, according to data released by the Ministry of Statistics and Program Implementation (MoSPI) on Monday.MoSPI has revised the base year of the All India Index of Industrial Production (IIP) from 2011-12 to 2022-23 to better reflect the current industrial structure. The revised series features an updated item basket, revised weights and broader sectoral coverage.The rise in IIP was driven by a 6.2% growth in the manufacturing sector.In the same month last year, India's industrial activity had grown 5.7%.The quick estimate of IIP came in at 118.9 against 113.1 in April 2025.The indices of industrial production for mining & quarrying, manufacturing, electricity & gas supply and water supply, and sewerage & waste management were 104.6, 119.3, 125.5, and 146.1, respectively, in April.

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International

HSBC India Manufacturing PMI Rises in May

Indian manufacturers in May saw improvement in output, S&P Global said Monday.The latest seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index stood at 55, compared with 54.7 in April and the consensus estimate of 54.3 from Investing.com.The reading marked the best improvement in sector health for three months.

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Asia Markets

Indian Equities Fall as Selling in Financials, Autos Weigh on Sentiment

Indian benchmark indices closed sharply lower on Monday as selling pressure in financial and automobile stocks weighed on sentiment.The BSE Sensex fell 508.40 points, or 0.7%, to close at 74,267.34, while the NSE Nifty 50 declined 165.15 points, or also 0.7%, to settle at 23,382.60.Market sentiment remained under pressure amid weak global cues and continued foreign portfolio investor outflows. Elevated crude oil prices and the absence of a breakthrough in the Middle East conflict also kept investors cautious.On the economic front, India's manufacturing sector expanded at a faster pace in May. The HSBC India Manufacturing Purchasing Managers' Index rose to 55.0 from 54.7 in April, supported by stronger growth in output, new orders, and purchasing activity.Among corporate developments, Mahindra & Mahindra (NSE:M&M, BOM:500520) reported a 20% year-on-year increase in total vehicle sales for May to 99,636 units. Passenger vehicle sales rose 11% to 58,021 units, while exports climbed 37% to 5,000 units.Bajaj Auto (NSE:BAJAJ-AUTO, BOM:532977) said total sales increased 20% year on year to 461,257 units in May. Domestic sales rose 10% to 248,031 units, while exports advanced 34% to 213,226 units.

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International

Asia Week Ahead: Manufacturing Activity; Policy Rate Decision; and Inflation Prints

For the week ahead in Asia, manufacturing activity will be in focus as S&P Global releases a broad mix of purchasing managers' index reports covering multiple economies.The week opens with a flurry of manufacturing PMI readings for May, followed by inflation data from South Korea and Indonesia on Tuesday.Mid-week, Australia's first-quarter GDP report will take center stage, while markets will also watch a heavy batch of readouts from Vietnam.Thursday will be lighter, led by Australia's April trade report, before Friday brings India's policy rate decision and GDP figures and inflation readouts from multiple regions.Here's what to watch in the week ahead.MONDAY, June 1The week kicked off with a flurry of S&P Global's purchasing managers' index (PMI) reports covering May manufacturing activity across the region.China's manufacturing activity eased after the seasonally adjusted RatingDog China General Manufacturing PMI came in at 51.8, compared with 52.2 in the previous month and the consensus estimate of 51.4 from Investing.com.Data from the National Bureau of Statistic similarly showed factory activity easing, with the official purchasing managers' index falling to a neutral 50 from 50.3 in April.A reading above 50 means growth, while a reading below 50 indicates contraction.Manufacturing activity similarly slowed in Australia as new orders fell sharply for a third consecutive month amid rising costs and ongoing supply-chain disruptions linked to the war in the Middle East.In contrast, Japan's manufacturing production expanded, with the latest S&P Global Japan Manufacturing PMI coming in at 54.5, compared with 55.1 in April, matching the flash data.South Korean manufacturing output also expanded during the month, hitting its highest in five years due to a rise in production and new order volumes, S&P Global said.India, Taiwan and Vietnam were also among the regions that experienced improved output during May.Meanwhile, The Philippines' manufacturing activity returned to growth in May as stronger output and a recovery in new orders offset continued weakness in exports.Moving ahead, the Melbourne Institute said its monthly inflation gauge fell in May after two consecutive monthly increases, driven largely by a decline in transport costs. The monthly cost of living also declined in May, particularly for self-funded retirees.Elsewhere, South Korea recorded a trade surplus of $26.9 billion in May, a new all-time high, and marking the third straight month of more than $20 billion in trade surplus.TUESDAY, June 2Focus shifts Tuesday to inflation data coming in from South Korea.Economists at ING said consumer prices could reach 3% year on year in May, reflecting higher input costs that are likely to be passed on to consumers.Pipeline cost pressures are also likely to reflect in Indonesia's inflation print due Tuesday, with ANZ expecting prices to tick up to 3% from 2.42% in the prior month, the Wall Street Journal reported.Trade figures due in Indonesia the same day could also show moderating exports as the effects of front-loaded demand fade and commodity prices soften, the WSJ said, citing an RHB economist.On the activity front, S&P Global releases its monthly manufacturing PMIs for Indonesia, Malaysia, and Thailand. The Singapore Institute of Purchasing and Materials Management's PMI report is also expected.Lastly, Hong Kong will release its retail sales stats for April.WEDNESDAY, June 3Australia's first-quarter gross domestic product (GDP) data will dominate headlines Wednesday.Both Westpac and CommBank said they expect growth to have moderated during the first three months of the year, though their estimates differed.CommBank forecast a 0.2% quarterly rise in GDP, while Westpac projected 0.5%; both would be slower than the 0.8% growth recorded in the final quarter of 2025.Neighboring New Zealand will disclose first-quarter export and import price stats.Markets will also be following a speech by Bank of Japan Governor Kazuo Ueda for clues on the central bank's next interest-rate hike.Wednesday also features a heavy slate of macro data from Vietnam, including inflation, balance of trade, industrial production, and retail sales.Trading Economics expects Vietnam's May inflation to accelerate to 6% from 5.46% in April. Meanwhile, the data platform estimated the country's trade deficit could widen to $3.4 billion from $3.28 billion a month prior.Meanwhile, S&P Global will release the next batch of its PMI reports covering composite and services activity in China, India, Japan, Australia, and Hong Kong.THURSDAY, June 4Thursday will be relatively light on readouts, with Australia's April trade figures among the handful of releases of note.Australia is expected to post a trade surplus of A$2.6 billion in April, rebounding from a A$1.8 billion deficit in March - its first shortfall since late 2017, Westpac said in a preview.According to the bank, major commodity exports appeared to have increased notably during the period after recording three consecutive monthly declines.In Singapore, S&P Global's monthly PMI will be due, while Thailand will release a business confidence report.FRIDAY, June 5The tail end of the week brings a policy rate decision in India, which will also release its quarterly GDP growth figures.The Reserve Bank of India is expected to hold rates at 5.25% but could signal hawkish sentiment during its vote, the WSJ reported, citing a UOB economist.Meanwhile, a Trading Economics consensus placed the country's GDP growth rate at 7.3%, down marginally from the 7.8% recorded in the final quarter of 2025.ANZ Research said the economy stayed broadly healthy in the fiscal fourth quarter, although growth eased slightly in March as manufacturing, exports and profit margins came under pressure due to global disruptions, the WSJ reported.Taiwan is set to report monthly inflation data, with ING expecting consumer prices to rise above the 2% target for the first time since April 2025. The bank expects inflation to accelerate to 2.2% year on year in May from 1.7% in April, reflecting Taiwan's reliance on imported energy, which leaves the economy vulnerable to higher global prices."We expect inflation to peak toward the middle of this year, raising the risks for a potential central bank rate hike at the coming meetings," ING said in a preview.Thailand and the Philippines will similarly report their respective inflation rates for May, with the latter also releasing industrial production stats.Lastly, Singapore will report its retail sales figures for April.

ASX 200^BSE^HNX^HOSEHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225^NSE^NZ50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
India's Manufacturing Activity Expands to Three-Month High as Firms Stockpile Amid Middle East Tensions
US Markets

India's Manufacturing Activity Expands to Three-Month High as Firms Stockpile Amid Middle East Tensions

India's manufacturing sector steadily expanded in May, driven by growth in sales and production, while firms continued to stockpile as a precautionary measure amid uncertainties surrounding the conflict in the Middle East.The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) climbed to 55.0, the sector's strongest improvement in three months, up from 54.7 in April and a flash estimate of 54.3 released 10 days prior, according to a press release from S&P Global on Monday.This rise was attributed to an increase in new orders and output, which grew at their fastest pace since February. Domestic demand was robust, outpacing new export orders, which grew at a more modest rate. Among its global trading partners, India saw its biggest export gains from Asia, Europe, Kenya, Nigeria, and the Middle East.Meanwhile, the Middle East conflict continued to weigh on operating costs, particularly for fuel, energy, materials, and transportation. However, business sentiment remained optimistic that these cost pressures would fade later in the year.Data released last week by the Ministry of Commerce and Industry showed that India's wholesale prices surged by 8.30% year over year in April, marking the steepest increase since 2022, and rose 3.86% from March. This inflation was primarily driven by rising fuel and power prices following the closure of the Strait of Hormuz.Additionally, the PMI survey indicated that the growth in production prompted firms to increase staffing levels."India's final manufacturing PMI points to another month of possible precautionary stockpiling as the Middle East conflict remains unresolved," HSBC Chief India Economist Pranjul Bhandari said.ING noted that India is currently managing the impact of the conflict in Iran effectively due to its domestic fuel subsidies. However, the situation has placed pressure on the Indian rupee, exposing structural weakness. The rupee-to-dollar exchange rate is now projected to reach 95.50 by the end of the year."Fuel subsidies have limited the immediate impact on inflation, while diversification of energy sources has helped address fuel shortages," said Deepali Bhargava, ING's regional head of research for Asia-Pacific, in a May 26 note. "The rupee has borne the brunt, not due to an outsized deterioration in the current account, but because of weaker capital inflows."

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Asia

Market Chatter: Indian Refiners Hold Domestic Jet Fuel Prices Steady After Airlines Seek Relief

India's state-owned refiners have kept aviation turbine fuel prices unchanged for domestic flights for June after airlines sought a pause in further increases amid pressure from the Iran conflict, Bloomberg News reported Monday, citing company spokespersons.The domestic jet fuel price in New Delhi remains at 104,927 rupees per kiloliter, the report noted. The refiners have also reduced fuel prices for international flights, although details of the cut were not disclosed, according to the report.The airlines had asked refiners, including Indian Oil Corp. (NSE:IOC, BOM:530965) and Bharat Petroleum Corp. (NSE:BPCL, BOM:500547), to avoid price hikes for domestic flights until end of the U.S.-Iran war, after an 8.6% increase in April, citing pressure on travel demand and higher costs, Bloomberg reported.(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.)

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International

HSBC India Manufacturing PMI Rises in May

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.

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Asia

Indian Equities Tumble on Friday Amid US-Iran Deal Uncertainty

Indian benchmark indices ended sharply lower on Friday after a late-session selloff erased earlier stability, as investors turned cautious amid lingering uncertainty over a potential U.S.-Iran agreement.The BSE Sensex dropped 1,092.05 points, or 1.4%, to close at 74,775.74, while the NSE Nifty 50 fell 359.40 points, or 1.5%, to settle at 23,547.75.Market sentiment weakened in the final session of trade due to aggressive profit booking ahead of the weekend. Investor caution persisted despite reports indicating that the U.S. and Iran had agreed to extend their ceasefire and reopen shipping through the Strait of Hormuz. The proposed deal is reportedly awaiting approval from U.S. President Donald Trump.In corporate developments, Solar Industries India (NSE:SOLARINDS, BOM:532725) secured export orders worth 10.8 billion rupees from international clients for the supply of defense products over a three-year period.Steel Strips Wheels (NSE:SSWL, BOM:513262) reported fiscal fourth-quarter consolidated profit of 608.5 million rupees, compared with 606.6 million rupees a year earlier. Revenue from operations declined to 11.7 billion rupees from 12.3 billion rupees.

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Asia

Market Chatter: US, Iran Reach Tentative 60-Day Ceasefire Extension

The U.S. and Iran have tentatively agreed to extend a ceasefire for two months while initiating new negotiations over Tehran's nuclear program, fueling optimism that the ongoing three-month conflict may soon end, Bloomberg News reported on Thursday, citing a source familiar with the discussions.The anonymous source confirmed a prior Axios report, though President Donald Trump has not yet signed off on the terms, the newswire said.While both sides have previously celebrated progress and Trump has often claimed a deal was imminent, the impasse has repeatedly persisted, the publication said.Vice President JD Vance told reporters that the two nations are exchanging proposals on specific language regarding Iran's nuclear capabilities, and noted that Iran appears to be engaging in good faith, with tangible progress underway, the report said.(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.)

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Asia

Indian Equities Fall Marginally Amid Wobbly US-Iran Peace Talks

Indian benchmarks ended on a flat note on Wednesday as investors turned cautious amid mixed signals coming from the U.S.-Iran talks.Washington and Tehran have been in negotiations to end the war, but recent attacks from the U.S. are now complicating peace efforts.Iran said the U.S. had breached a ceasefire by striking targets ⁠near the Strait of Hormuz. In response, the U.S. claimed the strikes were an act of self-defense.At close, BSE Sensex slipped 141.89 points, or 0.2%, to 75,867.81, while Nifty 50 fell marginally to 23,907.15.In corporate news, shares of Gillette India (NSE:GILLETTE, BOM:507815) jumped 6% after reporting its profit rose to 1.93 billion Indian rupees in the fiscal fourth quarter ended March 31 from 1.59 billion rupees a year ago.Meanwhile, shares of Goldiam International (NSE:GOLDIAM, BOM:526729) rose marginally after announcing its consolidated net profit climbed to 393.9 million Indian rupees in the fiscal fourth quarter from 270.2 million rupees a year ago.

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Asia

Market Chatter: India's GIFT City Draws Investors Seeking Global Equities

India's Gujarat International Finance Tec-City (GIFT City) is attracting investors seeking global equities with its relaxed limits, Nikkei Asia reported Wednesday.GIFT City is exempt from India's $7 billion industry-wide cap on combined overseas investments of all mutual funds, the report said.The limit for funds outside GIFT City has been reached, forcing the investment arms of global funds like Schroders, J.P. Morgan, or HSBC to stop accepting fresh subscriptions. Therefore, they are turning to Gujarat's financial hub to push their funds, the report said.A country-agnostic equity fund launched in GIFT City by DSP Asset Managers garnered nearly $30 million in subscriptions since its launch in June 2025 and expects inflows to cross $200 million in a couple of years, according to the report."It's not country specific but sector specific, with investors focusing on themes like AI, semiconductors and cloud computing," Nikkei quoted Jay Kothari, DSP's head of international business and lead investment strategist, as saying.(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.)

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Asia

Market Chatter: Taiwan Stock Market Surpasses India to Become World's Fifth-Largest

Taiwan has overtaken India in total stock market value, becoming the world's fifth-largest equity market, Bloomberg News reported Tuesday.Taiwan's market capitalization reached $4.95 trillion on Monday, slightly ahead of India's $4.92 trillion, according to Bloomberg data. Only the United States, China, Japan and Hong Kong now rank ahead of Taiwan globally.The gains were driven largely by Taiwan Semiconductor Manufacturing (TPE:2330), whose shares have surged 49% this year amid strong demand tied to the artificial intelligence boom. The chipmaker now accounts for about 42% of Taiwan's benchmark TAIEX index, according to the report.(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.)

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Asia Markets

Indian Equities Fall as Rising Oil Prices and Global Uncertainty Weigh on Sentiment

Indian benchmark indices closed lower on Tuesday, snapping a two-session winning streak, as weak global cues and a rise in crude oil prices triggered profit booking.The BSE Sensex declined 479.26 points, or 0.6%, to close at 76,009.70, while the NSE Nifty 50 fell 118.00 points, or 0.5%, to settle at 23,913.70.Market sentiment remained cautious after U.S. strikes on Iran reduced expectations of a near-term peace agreement. Reports of military activity in southern Iran pushed crude oil prices higher and added pressure on the Indian rupee.In earnings news, Marksans Pharma (NSE:MARKSANS, BOM:524404) surged 16% after fiscal fourth-quarter consolidated net profit rose to 1.48 billion rupees from 905.5 million rupees a year earlier. Revenue from operations increased to 8.56 billion rupees from 7.08 billion rupees.Adani Green Energy (NSE:ADANIGREEN, BOM:541450) gained over 3% after the company said its step-down subsidiaries operationalized battery energy storage system projects and a solar energy project in Gujarat, India.

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International

Indian Government Proposes Changes to Industrial Output Index to Expand Coverage

The Indian government is set to implement changes to the Index of Industrial Production (IIP), aimed at wider sectoral coverage, a revamped item basket, chain-linked indices, and methodological improvements to better capture the data, according to a statement on Monday.The proposed changes are part of the new IIP series with base year 2022-23, recommended by the Technical Advisory Committee on Base Year Revision of the All-India Index of Industrial Production (TAC-IIP), constituted by the Ministry of Statistics and Programme Implementation (MoSPI) in September 2024.The panel has recommended adopting a chain-linked approach alongside the fixed-base IIP framework, in a major shift in methodology. It said annual updating of weights would reduce substitution bias and better capture structural changes in industrial production."By incorporating recent information into the weighting structure, the chain-based method improves the accuracy and relevance of the index and provides a more realistic measure of industrial growth," the panel said.The panel has also proposed expanding the scope of the industrial output index to include minor minerals, rare earth minerals, gas supply, water supply, sewerage, and waste management activities.The new series also introduces greater granularity through sub-indices, including separate indices for electricity generated from renewable and non-renewable sources.The TAC-IIP recommended revising the IIP base year from 2011-12 to 2022-23 to align it with other macroeconomic indicators such as gross domestic product, consumer price index, and wholesale price index.The revised series will have an updated item basket comprising 1,042 products mapped to 463 item groups, in aligment with with the National Industrial Classification.The report pointed out that regular revisions of the base years of economic indicators like IIP are "essential to ensure that they remain representative of current industrial activity and continue to accurately reflect evolving economic realities".The first release of the revised IIP series is scheduled for June 1 and will provide index values from April 2023 onwards, including the quick estimates for April.

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Asia

Indian Equities Rally on Monday as Falling Oil Prices Boost Risk Appetite

Indian benchmark indices surged on Monday, gaining more than 1%, as a sharp decline in crude oil prices improved investor sentiment and triggered broad-based buying across sectors.The BSE Sensex climbed 1,073.61 points, or 1.4%, to close at 76,488.96, while the NSE Nifty 50 advanced 312.40 points, or 1.3%, to settle at 24,031.70.Market sentiment strengthened after Brent crude prices dropped more than 5% to trade below $98 per barrel amid growing optimism over a possible agreement between the U.S. and Iran. The decline in oil prices supported risk appetite across segments.Among individual stocks, Blue Jet Healthcare (NSE:BLUEJET, BOM:544009) jumped nearly 10% despite reporting a decline in fiscal fourth-quarter consolidated profit to 643.4 million rupees from 1.10 billion rupees a year earlier. Revenue from operations also fell to 2.35 billion rupees from 3.40 billion rupees.Cyient (NSE:CYIENT, BOM:532175) rose nearly 2% after announcing that its subsidiary Cyient Semiconductors will raise up to $30 million from funds managed by EAAA India Alternatives and affiliated co-investors. The transaction includes equity investment and structured debt funding.

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International

Asia Week Ahead: Policy Rate Decisions, Inflation Prints and GDP Reports

Asia's economic calendar this week features a mix of inflation data, interest rate decisions, GDP releases and industrial figures across the region.The week opens with Singapore's GDP and inflation data, plus Thailand's trade figures, followed on Tuesday by Taiwan's industrial production and retail sales reports.Mid-week, attention turns to the Reserve Bank of New Zealand's policy decision and Australia's inflation print. On Thursday, the Bank of Korea will announce its rate decision, while Hong Kong releases trade data and India reports industrial and manufacturing output figures.Friday will be the busiest day for macro releases, led by a batch of key indicators from Japan. The week wraps up with China's PMI readings on Sunday.Here's what to watch in the week ahead.MONDAY, May 25Singapore's economy grew 6.0% year over year in the first quarter, government data showed, beating the 4.6% flash estimate and accelerating from the 5.7% growth in Q4.The expansion was driven by strong performances in the wholesale trade, manufacturing, and finance and insurance sectors.Meanwhile, the city-state's annual inflation rate held steady at 1.8% in April, unchanged from March but below market expectations of 2%.Core inflation, on the other hand, eased to 1.4% in April from 1.7% a month prior.In Thailand, exports surged 23.1% year over year to $31.6 billion in April, accelerating from an 18.7% increase in March and beating forecasts of 16.2%.Imports likewise strengthened, expanding 45% in April to $41.6 billion, compared with a rise of 35.7% a month prior.As a result, the trade deficit ballooned to $10.02 billion in April from $3.3 billion a year earlier, far above forecasts of a $5.1 billion shortfall.TUESDAY, May 26Singapore will release its April industrial production data, while Taiwan is due to report both industrial production and retail sales figures for the month.WEDNESDAY, May 27New Zealand's central bank will hold its policy meeting, with analysts expecting no change to the country's official cash rate of 2.25%, according to a Trading Economics consensus.Australia is set to release inflation figures on the same day. Consumer prices rose 4.6% year on year in March, the fastest pace since September 2023, and are expected to accelerate to 5.1% in April as oil prices climb amid the Middle East conflict.Meanwhile, China will report its industrial profits for April. A pair of confidence reports covering business and consumer sentiment will be due in South Korea and Taiwan, respectively.THURSDAY, May 28The Bank of Korea is set to meet for its policy rate decision, with markets watching for any change to its current 2.5% benchmark rate amid inflation and growth pressures linked to the ongoing conflict in the Middle East.Hong Kong will release its monthly trade figures. The April reading could show a narrowing of the trade deficit to HK$46 billion from HK$89.1 billion in March, Trading Economics forecasted.Meanwhile, India will report its industrial and manufacturing production data for April.Markets will also watch New Zealand's ANZ Business Confidence report for May, after the index dropped to -10.6 in April -- its first negative reading since August 2023 -- as the Middle East conflict weighed on sentiment.FRIDAY, May 29Japan's usual end-of-month data deluge, which includes the release of inflation, unemployment rate, industrial production and retail sales, will provide insights into the country's economic health.Markets will also watch Taiwan's final Q1 GDP growth figures for any revision from the preliminary estimate, which showed the economy expanding by 13.7%.Other highlights include trade balance figures from Macau and the Philippines, and export and import price data from Singapore.Both South Korea and Thailand will report their monthly industrial production and retail sales stats, while Macau will report its unemployment rate for April.Lastly, a report capturing business confidence in April will be due in the Philippines.SUNDAY, May 31China, the biggest economy in Asia, will release its official May PMI data covering manufacturing, non-manufacturing and general activity.

ASX 200^BSEHang SengKOSPINikkei 225^NSE^NZ50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
Asia

Market Chatter: Indian Retailers Raise Fuel Prices for the Third Time in May as Global Prices Remain High

As the global crude oil prices remain high, Indian state-owned fuel retailers have raised petrol and diesel prices for the third time this month, according to a Reuters report on Saturday, quoting local dealers.After the first price increase in four years on May 15, the price of fuel ​has been hiked by around 5 rupees, as the Iran war has disrupted global oil supply, the report said.State-run Indian Oil Corporation (NSE:IOC, BOM:530965), Hindustan Petroleum Corporation (NSE:HINDPETRO, BOM:500104) and Bharat Petroleum Corporation (NSE:BPCL, BOM:500547), together control more than 90% of the country's over 103,000 fuel stations.They usually fix the rates of diesel and petrol in line with each other, and until recently, had not raised gasoline and diesel prices since April 2022.As per the report, the Indian oil ministry has said that the government currently has no plans to provide financial support for refiners.(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.)

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