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Indian Equities Slip on Tuesday as Geopolitical Tensions, Profit Booking Weigh

Indian benchmark indices ended lower on Tuesday as profit booking in financial heavyweights and renewed U.S.-Iran tensions weighed on sentiment.The BSE Sensex fell 251.61 points, or 0.3%, to close at 77,017.79, while the NSE Nifty 50 declined 86.50 points, or 0.4%, to settle at 24,032.80.Markets remained volatile through the session amid weak global cues, elevated crude oil prices, and continued uncertainty around potential U.S.-Iran talks. Investors tracked the latest set of March-quarter earnings.Among stocks, Mahindra & Mahindra (NSE:M&M, BOM:500520) gained over 3% after reporting a rise in consolidated profit to 46.7 billion rupees in fiscal Q4 from 33.0 billion rupees a year earlier. Revenue from operations increased to 549.8 billion rupees from 426.0 billion rupees.Force Motors (NSE:FORCEMOT, BOM:500033) fell nearly 2% after reporting a 4.3% year-on-year decline in total vehicle sales to 3,113 units in April.

Indian Equities Gain on Monday on Election Trends, Earnings Support

Indian benchmark indices ended higher on Monday, supported by buying in heavyweight stocks, improving earnings outlook, and optimism around election trends.The BSE Sensex rose 355.90 points, or 0.5%, to close at 77,269.40, while the NSE Nifty 50 gained 121.75 points, or also 0.5%, to settle at 24,119.30.Sentiment improved as investors tracked early trends from Assembly Elections across key states of India. Expectations of political stability in the country and continuity in economic policies supported the market.Hopes of progress in U.S.-Iran peace talks also contributed to the positive tone of the markets. Iran has reportedly submitted a 14-point proposal to Pakistan to end the conflict with U.S. on all fronts.Among stocks, Bharat Heavy Electricals (NSE:BHEL, BOM:500103) surged 7% after reporting a sharp rise in consolidated profit to 12.9 billion rupees in Q4 from 5.04 billion rupees a year earlier, according to a Monday filing. Revenue from operations increased to 123.1 billion rupees from 89.9 billion rupees.HFCL (NSE:HFCL, BOM:500183) gained nearly 9% after the company and its subsidiary secured orders worth 842.3 million rupees for supply of optical fiber cables, according to a filing.Bajaj Auto (NSE:BAJAJ-AUTO, BOM:532977) rose over 1% after total vehicle sales jumped 40% year-on-year in April to 513,792 units, according to a Monday filing.

Asia Week Ahead: PMI Reports; Central Bank Decisions; and Inflation Prints

For the week ahead in Asia, the economic calendar is packed with S&P Global's monthly purchasing managers' index reports, inflation prints, and central bank decisions across the region.Monday brings a slate of S&P Global manufacturing PMI reports for April, alongside Indonesia's inflation and trade figures.On Tuesday, markets will turn to the Reserve Bank of Australia's interest rate decision, while Thailand and the Philippines release April inflation data.Wednesday features South Korea's April inflation print and New Zealand's first-quarter labor-market report, along with PMI readings from India, China, Hong Kong and Singapore.On Thursday, Malaysia's central bank decision will be in focus, alongside Taiwan's April inflation data and the Philippines' first-quarter GDP report.On Friday, Taiwan's April trade data and Malaysia's March industrial production figures will be due, before China closes out the week with April trade figures on Saturday.Here's what to watch in the week ahead.MONDAY, May 4The week kicked off with a slate of S&P Global purchasing managers' index reports covering manufacturing activity during April.Most economies in the region saw a rise in output despite the ongoing conflict in the Middle East which has pushed oil prices upwards.Malaysia's manufacturing sector expanded at its fastest pace in four years in April, supported by stronger output and a return to growth in new orders.The S&P Global Malaysia Manufacturing Purchasing Managers' Index rose to 51.6 in April from 50.7 in March, marking a second straight month of expansion.Output grew at the fastest pace since December 2021, while new orders increased as firms and clients built safety stocks amid uncertainty linked to the Middle East war.Output activity also expanded in South Korea, India, and Taiwan, according to S&P Global.Meanwhile, Vietnam's manufacturing sector also expanded, albeit at a slower pace.The S&P Global Vietnam Manufacturing PMI slipped to 50.5 in April from 51.2 in March, a seven-month low, signalling a tenth straight month of expansion but only marginal growth.In contrast, Indonesia's manufacturing sector slipped into contraction in April as cost pressures intensified due to material shortages and delays linked to the Middle East conflict.The S&P Global Indonesia Manufacturing Purchasing Managers' Index fell to 49.1 in April from 50.1 in March, dropping below the 50 mark for the first time in nine months.Manufacturing activity similarly slipped in the Philippines as new orders fell sharply and cost pressures intensified.Indonesia released inflation figures, noting a 2.4% year on year rise in prices during April -- slower than the 3.5% recorded a month prior.The island state also booked a trade surplus of $5.55 billion in the first quarter, supported by a strong non-oil and gas balance despite higher import growth, according to official data released by Statistics Indonesia.The Melbourne Institute released its monthly inflation gauge, noting another increase in April, mainly driven by higher recreation-related prices. The monthly cost of living also increased in April, especially for employees and self-funded retirees.TUESDAY, May 5An interest rate decision in Australia will capture headlines on Tuesday.The Reserve Bank of Australia is likely to rate hikes by 25 basis points to 4.35% as persistent inflation pressures and rising fuel costs linked to Middle East supply disruptions keeps the central bank on a hawkish path even as global peers hold steady.Thailand and the Philippines will release inflation data for April.Economists at ING said they expect the Philippines' headline inflation to rise above 5% as the government passes on the impact of higher global oil prices onto consumers. The Philippines' inflation climbed to 4.1% in March.Thailand is similarly expected to see a rise in consumer prices during April. According to a consensus compiled by Trading Economics, headline inflation could clock in at 1.7% on an annual basis, compared with a 0.08% decline in March.First-quarter gross domestic growth data will be due in Indonesia. DBS said it was forecasting 5.6% growth for the quarter thanks to government spending and festive spending during the period, the Wall Street Journal reported.Hong Kong will similarly release its first-quarter advance GDP growth estimate on Tuesday.Meanwhile, March retail sales figures will be expected in Singapore.On the activity front, S&P Global will release PMI reports manufacturing activity in Thailand and services and composite activity in Australia.WEDNESDAY, May 6Another inflation print, this time in South Korea.Economists at ING said they expect consumer prices to rise at a faster pace in April despite attempts by Seoul to rein in the impact of rising oil costs on consumers. A consensus compiled by Trading Economics indicated headline inflation could clock in at 2.6%.In March, South Korea's annual inflation rose to 2.2%, breaching the central bank's 2% target.First-quarter labor data from New Zealand will also be in the news.CommBank expects headline labor-market figures to remain weak, forecasting just 0.1% quarterly employment growth and a rise in unemployment to 5.5%, compared with Trading Economics consensus estimates of 0.3% employment growth and a 5.4% jobless rate for the first quarter."We do not envisage a labor market recovery until 2027, reflective of adverse impacts from geopolitical ructions," CommBank said in a preview.The Philippines will similarly release labor data for March, as well as industrial production figures.ING said it expects unemployment to edge higher. "On the industry side, weak soft construction activity should continue to weigh on growth," ING said.Additional S&P Global PMI reports covering services and composite activity in India and China, as well as overall activity in Hong Kong and Singapore, will be due.A business confidence report will be due in Thailand, while Hong Kong's March retail sales figures will also be on display.THURSDAY, May 7Malaysia's central bank will meet for its interest rate decision, with no change expected in the 2.75% policy rate.RHB Bank said it expects Bank Negara Malaysia to hold rates as growth remains steady and inflation remains in check, the Wall Street Journal reported.Taiwan's April inflation print will be due, with analysts looking for signs on how the Iran war was weighing in on prices. ING said it expects to see inflationary pressure picking up after limited pass through of energy prices in March.Australia will release March trade figures. The country's trade surplus could fall to A$4.45 billion from the A$5.69 billion recorded in the month prior, according to a consensus compiled by Trading Economics.CommBank said it expects the goods trade balance to decline due to rising fuel imports in the wake of the Iran conflict.The Philippines' first-quarter GDP growth figures will be expected. ING said the Philippines' economy could recover to a growth of 4.3% year on year thanks to favorable base effects and some pick-up in government spending.The Philippines' economy grew by 3% last quarter.Another confidence report covering consumer sentiment will be due in Thailand.FRIDAY, May 8Markets will be on the lookout for Taiwan's trade data for April.ING said it expects the island state's trade surplus to rise to $21.6 billion from $21.3 billion in the month prior. "We're looking for another strong month, with 59.3% YoY export growth and 35.5% import growth," ING said in a preview.In Malaysia, March industrial production figures will be due.S&P Global will release PMI reports covering services and composite activity in Japan.SATURDAY, May 9China will release its April trade data on Saturday.The world's second largest economy could record a surplus of $82.4 billion for the month, rising from $51.13 billion in March, according to a consensus compiled by Trading Economics.Analysts at DBS expect a sharp uptick in surplus, with export growth more than doubling to 8.4% from the 2.5% rise seen in March, the WSJ reported.

India's Manufacturing Activity Quickens Pace in April; Growth Remains Weak

India's manufacturing activity gathered pace in April, with the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index rising to 54.7 in April from 53.9 in March, according to data released by S&P Global on Monday.Manufacturing activity was driven by strong exports, with only mild recoveries in new business intake and production among Indian manufacturers. The rates of increase were still the second-weakest since 2022.Input costs and output charges rose at the fastest rates in 44 and six months, respectively, putting pressure on manufacturing growth."Survey participants indicated that advertising and demand resilience supported sales and production, but that growth was hampered by competitive conditions, the war in the Middle East, and a reluctance among clients to approve pending quotes," the report said.The bright spot in the scenario was the sharp expansion in export orders, which hit a seven-month high, buoyed by higher demand from clients in countries, including Australia, France, Japan, Kenya, mainland China, Saudi Arabia, the UAE, and the UK."Spillovers from the Middle East conflict are becoming more evident, particularly through inflation: input costs increased at the fastest pace since August 2022, and output prices rose at the quickest rate in six months," Pranjul Bhandari, Chief India Economist at HSBC, said. "Even so, output, new orders (including exports), and employment all grew moderately, pointing to continued resilience in India's manufacturing sector".Even as outstanding business volumes saw only a marginal rise, the rate of job creation was the strongest in ten months.The overall level of positive sentiment among manufacturers slipped since March; however, it was the second-highest since November 2024, on the hopes that marketing efforts will yield results and that pending projects will be approved.

ADB Commits $70 Billion Investment in Asia Through 20235 to Boost Energy, Digital Infrastructure

The Asian Development Bank will inject $70 billion through 2035 to expand energy and digital infrastructure across the Asia-Pacific, with a focus on cross-border electricity trade and broader internet access.In the recent report on Monday, ADB President Masato Kanda said stronger regional connectivity will help lower costs and support growth. The bank plans to mobilize $50 billion under its Pan-Asia Power Grid Initiative to link national grids, scale up renewable energy use, and build transmission lines, substations and storage.A further $20 billion will go towards the Asia-Pacific Digital Highway, funding fibre networks, data centres and other digital systems. By 2035, the projects aim to connect 200 million people to power, widen broadband access, and generate jobs across the region, the report said.

ADB Pledges $70 Billion For Energy, Digital Networks Across APAC as Middle East Conflict Batters Outlook

The Asian Development Bank is committing $70 billion to support new energy and digital infrastructure initiatives across the Asia-Pacific region by 2035.ADB President Masato Kanda announced the pledge on Sunday during the lender's annual meeting in Uzbekistan."Energy and digital access will define the region's future," said Kanda. "These two initiatives build the systems Asia and the Pacific need to grow, compete, and connect. By linking power grids and digital networks across borders, we can lower costs, expand opportunity, and bring reliable power and digital access to hundreds of millions of people."The pledge comes as the ADB sharply downgraded its forecast for the APAC region, citing energy disruptions from the ongoing Middle East conflict.On Wednesday, the ADB slashed its GDP growth outlook for developing Asia and the Pacific to 4.7% in 2026 from the previous 5.1% forecast.Inflation for 2026 is projected to accelerate to 5.2% in 2026 from 3% in 2025, before easing to 4.1% in 2027."Our revised outlook is a significant downward revision for growth and a sharp increase in inflation following a special update to reflect the deepening crisis," Kanda said at the time.The bank's new outlook assumes that oil prices average around $96 a barrel in 2026, well above the $69 per barrel average in January and February before the Middle East conflict. The bank expects oil prices to ease to around $80 per barrel in 2027."We are confronting systemic, long-lasting disruptions to global energy and trade networks, not just temporary volatility. ADB will remain an agile partner in protecting the region's economy; tracking fast-moving risks, and moving with urgency to scale up our support," Kanda added.Diesel prices across several Southeast Asian countries have increased by more than 100% since late February, the ADB said in its updated outlook report.The ADB also noted in its Wednesday report that the energy shock is also affecting fertilizer prices, which it said could add to food inflation, particularly for economies most dependent on Middle East imports.Against that backdrop, the ADB is committing $70 billion to build new energy and digital infrastructure in Asia and the Pacific by 2035.The largest investment, worth $50 billion, will be allocated towards cross-border power infrastructure to unlock renewable energy at scale, the ADB said.The project will focus on transmission and grid integration, including cross-border lines, substations, storage, and grid digitalization, according to the lender.By 2035, the bank aims to integrate about 20 gigawatts of renewable energy across borders, connect 22,000 circuit-kilometers of transmission lines, and cut regional power sector emissions by 15%, while improving energy access for around 200 million people.The remaining $20 billion will fund the Asia-Pacific Digital Highway, targeting digital corridors, data infrastructure, and AI-ready economies.The project aims to bring first-time broadband access to 200 million people and cut connectivity costs in remote and landlocked areas by about 40%.The South Korean government will back a new Center for AI Innovation and Development in Seoul with a $20 million contribution. The center will aim to train about 3 million people in digital and AI-related skills by 2035.Separately on Sunday, the ADB also unveiled a Critical Minerals-to-Manufacturing Financing Partnership Facility designed to help the region move beyond mining into higher-value industries such as processing, manufacturing, and recycling.Japan committed $20 million to the grant window, the UK contributed $1.6 million, and the Korea Eximbank and the Korean Trade Insurance Corporation each signed $500 million memorandums as the facility's first partners.

Correction: Indian Finance Companies Have Ample Buffers Against Oil Shock, S&P Says

(Corrects to 'fincos' in first and second paragraphs)S&P Global Ratings expects its rated Indian finance companies (fincos) to have ample capital and earnings cushion to mitigate the effects of the oil shock, according to a recent release.Indian fincos' regulatory capital adequacy would endure even a doubling of nonperforming loans, according to S&P credit analyst Greta Chugh.However, two companies would observe significant declines and face downgrades on S&P's risk-adjusted capital basis, the analyst said.Earnings would also suffer under sharply declining asset quality, Chugh said.The rating agency's risk assessment for the sector or some companies could erode if asset quality risks are structural rather than a one-off shock.S&P does not forecast a prolonged oil shock or a major constraint on India's economic growth, but a downward scenario of a lingering shock would hit growth and employment as well as squeeze fincos' credit costs and profitability.Household repayment capacity could gradually decline amid higher inflation and less disposable income, S&P said.Stress will likely first hit small-ticket unsecured segments, commercial vehicle loans, and Microfinance, with gradual spillover effects on secured products such as vehicle loans and affordable housing, Chugh said.

Indian Finance Companies Have Ample Buffers Against Oil Shock, S&P Says

S&P Global Ratings expects its rated Indian finance companies (finks) to have ample capital and earnings cushion to mitigate the effects of the oil shock, according to a recent release.Indian finches' regulatory capital adequacy would endure even a doubling of nonperforming loans, according to S&P credit analyst Greta Chugh.However, two companies would observe significant declines and face downgrades on S&P's risk-adjusted capital basis, the analyst said.Earnings would also suffer under sharply declining asset quality, Chugh said.The rating agency's risk assessment for the sector or some companies could erode if asset quality risks are structural rather than a one-off shock.S&P does not forecast a prolonged oil shock or a major constraint on India's economic growth, but a downward scenario of a lingering shock would hit growth and employment as well as squeeze fincos' credit costs and profitability.Household repayment capacity could gradually decline amid higher inflation and less disposable income, S&P said.Stress will likely first hit small-ticket unsecured segments, commercial vehicle loans, and Microfinance, with gradual spillover effects on secured products such as vehicle loans and affordable housing, Chugh said.

Indian Indices Fall on Thursday as Crude Surge, Global Cues Weigh

Indian equities ended lower on Thursday as a broad-based selloff, rising crude oil prices and weak global cues weighed on sentiment.Continued foreign outflows also added pressure on the benchmarks.The BSE Sensex fell 582.86 points, or 0.8%, to close at 76,913.50, while the NSE Nifty declined 180.10 points, or 0.7%, to 23,997.55.Brent crude rose about 5% to $124 per barrel, raising concerns over inflation and growth for India, a major oil importer. The spike followed discussions by U.S. President Donald Trump with oil companies over potential supply disruptions linked to the prolonged blockade of Iranian ports.In corporate developments, Hindustan Unilever (NSE:HINDUNILVR, BOM:500696) fell nearly 3% even as it reported an increase in consolidated profit rose to 29.9 billion Indian rupees. Revenue from operations also increased to 161.7 billion Indian rupees from 149.6 billion rupees a year ago.Sun Pharma Advanced Research (NSE:SPARC, BOM:532872) declined about 4% after announcing the sale of a U.S. FDA-granted priority review voucher for $195 million. The proceeds are expected to support pipeline development and innovation strategy, the company said.

Middle East War Poses Greatest Credit Risk for Asia-Pacific's Financial Institutions, S&P Says

The Middle East war's spillover effects serve as the largest credit risk for Asia-Pacific financial institutions, S&P Global Ratings said in a Thursday release.The region's banks are not directly exposed to the Middle East, while indirect exposure is manageable, S&P Asia-Pacific sector lead for financial institutions Gavin Gunning said.Lenders also have ample buffers to absorb linked constraints at current rating levels under a scenario of a deal that will open the Strait of Hormuz by the end of May, Gunning said.However, a downside scenario of a prolonged conflict could cause a 25% rise in credit losses for banks, S&P said.This scenario would mean larger increases in credit losses to total loans in Vietnam, Indonesia, and India, the rating agency said.China will account for the largest share in the total forecast credit losses at about $130 billion.Other countries' banking systems will be stronger at current rating levels, given their buffers, S&P said.Nonbank fund finance will remain a talking point, albeit being more muted, especially for US funds amid uncertainties in the software sector, the rating agency said.Al is also a major concern given the diverging impact it has on the ratings of the region's financial institutions in the coming years, according to S&P.

Indian Equities End Higher on Wednesday Amid Positive Fiscal Q4 Earnings

Indian benchmark indices ended higher on Wednesday, supported by positive fiscal Q4 earnings and value buying across select sectors.A large part of intraday gains was, however, trimmed in late trade due to profit booking.The BSE Sensex rose 609.45 points, or 0.8%, to close at 77,496.36, while the NSE Nifty 50 gained 181.95 points, or also 0.8%, to settle at 24,177.65.The market saw early support from selective buying, especially in auto stocks, which helped indices move higher in morning trade. However, the momentum was lost later as investors locked in gains at higher levels.Rising crude oil prices also kept sentiment in check amid concerns about supply disruptions if the Strait of Hormuz remains closed for longer period.Among stocks, Vedanta (NSE:VEDL, BOM:500295) rose nearly 5% after reporting a sharp jump in fiscal Q4 profit to 67.0 billion rupees from 34.8 billion rupees a year earlier.Shelter Pharma (BOM:543963) gained nearly 4% after securing a $144,000 export order for pharmaceutical supplies.

India's Industrial Production Slows to 4.1% in March

India's production growth, measured by the Index of Industrial Production, slowed to 4.1% in March from 5.2% in February, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday.In March 2025, India's IIP growth rate was at 3.9%.The quick estimates of IIP came in at 173.2 in March, up from 166.3 in the same month in 2025.The manufacturing sector, which carries the largest weight in the index, grew at 4.3% in March from 4.0% a year earlier. It was, however, lower than the 5.9% growth in February.Mining output grew 5.5% in March against 1.2% in the corresponding period of the previous year. Electricity production, however, fell to 0.8%, compared with 7.5% in the year-ago period.The indices of industrial production for the mining, manufacturing, and electricity sectors for March stood at 166.8, 169.4, and 221.3, respectively.

India's Industrial Production Shows Moderate Growth of 4.1% in March

Market Chatter: Acko Insurance Eyes Listing in Early 2027, Targets Up to $2.5 Billion in Valuation

Acko Insurance is targeting a listing in early 2027, Reuters reported Monday, citing people familiar with the matter.The Indian insurer is preparing for an IPO and eyeing a valuation of between $2 billion and $2.5 billion, the report said.The company may raise $300 million to $500 million through the offering, which is expected to include a mix of fresh issue and secondary share sales, the report said, citing one of the sources.Acko is likely to confidentially file draft IPO papers with the Securities and Exchange Board of India in the next two to three months, the sources reportedly told Reuters.Morgan Stanley, ICICI Securities and Kotak Mahindra Capital have been appointed to manage the issue, 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.)

Indian Equities Slip on Tuesday as Profit Booking in Banking Sector Weighs

Indian benchmark indices ended lower on Tuesday as profit booking in banking heavyweights and mixed global cues weighed on the market.The BSE Sensex fell 416.72 points, or 0.5%, to close at 76,886.91, while the NSE Nifty 50 declined 97.00 points, or 0.4%, to settle at 23,995.70.Sentiment remained fragile amid stalled U.S.-Iran talks, rising crude oil prices, and weakness in the rupee.Investors also stayed cautious ahead of the U.S. Federal Reserve's policy decision, with expectations of unchanged interest rates.Among stocks, Dhanlaxmi Bank (NSE:DHANBANK, BOM:532180) surged 14% after reporting a rise in fiscal Q4 net profit to 434.9 million rupees from 289.8 million rupees a year earlier.HDB Financial Services (NSE:HDBFS, BOM:544429) raised 3.25 billion rupees through the allotment of non-convertible debentures on a private placement basis.

Indian Equities Rebound on Monday as Value Buying, US-Iran Talk Hopes Lift Market

Indian benchmark indices closed higher on Monday, snapping a three-day losing streak, as value buying and expectations of renewed U.S.-Iran talks supported the market.The BSE Sensex rose 639.42 points, or 0.8%, to close at 77,303.63, while the NSE Nifty 50 gained 194.75 points, or also 0.8%, to settle at 24,092.70.Sentiment improved on expectations that the US and Iran may resume talks soon. Stronger-than-expected quarterly earnings also helped boost investor confidence.Among stocks, Tamilnad Mercantile Bank (NSE:TMB, BOM:543596) gained 7% after reporting a rise in fiscal Q4 net profit to 3.74 billion rupees from 2.92 billion rupees a year earlier. Earnings per share increased to 23.60, while interest income rose to 15.5 billion rupees.Sun Pharmaceutical Industries (NSE:SUNPHARMA, BOM:524715) also jumped 7% after agreeing to acquire US-based Organon & Co in an all-cash deal valued at $11.8 billion. The company will purchase shares at $14 each and plans to fund the transaction through cash and bank financing.

Asia Week Ahead: Central Bank Decisions; Inflation Prints; and Trade Data

For the week ahead in Asia, the economic calendar is packed with major data releases, central bank decisions and inflation updates across the region.Monday brings China's first-quarter industrial profits data, as well as Malaysia's producer prices.On Tuesday, markets will turn to the Bank of Japan's interest rate decision, alongside trade figures from Hong Kong and Macao, and India's March production report.Wednesday features Thailand's central bank rate decision and Australia's closely watched quarterly inflation print, while Thursday brings China's official and private PMI readings.On Friday, Japan's Tokyo core inflation reading will be in focus, along with South Korea's April trade data.Here's what to watch in the week ahead.MONDAY, April 27The week kicked off with the release of China's industrial profits data for the first quarter.The total profits of China's industrial enterprises rose 15.5% year on year to 1.696 trillion yuan during the first three months of 2026, with increases seen in the mining, manufacturing, technology, and chemical industries.A drop in profits was witnessed in the utilities industry, as well as the electricity and heat and agricultural industries, data from the National Bureau of Statistics showed.Singapore disclosed its manufacturing output stats for March, highlighting a 10.1% jump in production thanks to strong growth across almost all clusters.Malaysia's producer prices rose in March for the first time in a year, driven largely by a rebound in the mining sector, according to Trading Economics.Producer prices climbed 1.1% year on year, reversing a 3.4% decline in the previous month.Meanwhile, Taiwan's consumer confidence index edged up to 62.47 in April, rising 0.17 points from March.The uptick was driven by improvements in four sub-indicators, with sentiment on employment opportunities posting the largest monthly gain.A pair of reports covering business and consumer confidence was also due in the Philippines.TUESDAY, April 28Markets will turn their attention to an interest rate decision scheduled in Japan.The upcoming decision could be a complicated one for the Bank of Japan as it grapples with intensifying inflation domestically and the uncertainty surrounding the Middle East, ING said in a preview.While markets broadly expect the central bank to maintain rates at 0.75%, ING said it continues to believe there's a chance the Bank of Japan may hike rates.Japanese unemployment data is also due the same day, with observers expecting the jobless rate to hover around the 2.6% mark, unchanged from the prior month, according to a consensus compiled by Trading Economics.Hong Kong will disclose trade stats for March. According to Trading Economics, the city state's trade deficit could narrow to HK$43 billion from the HK$64.2 billion recorded in February.Macao will similarly release balance of trade figures. The city state's trade deficit could narrow to 9.4 billion pataca in March from 9.9 billion pataca a month prior, Trading Economics forecasted.India's industrial production data for March will also be in the news. A consensus compiled by Trading Economics indicated analysts expect India's industrial production growth to slow to a rate of 4.2% from 5.2% in February.India's manufacturing weakened in March as geopolitical tensions in the Middle East, unstable market conditions, and inflationary pressures impacted output, S&P Global said previously. However, conditions appeared to have improved in April, according to the firm's most recent flash purchasing managers' index release.South Korea's business confidence report for April will be due the same day.WEDNESDAY, April 29Thailand's central bank will meet for its interest rate decision.The Bank of Thailand is seen to hold rates steady at 1% amid softening growth and inflationary pressure due to the conflict in the Middle East, the Wall Street Journal reported.Thailand's March Industrial production data is also expected on the same day.Australia's latest inflation print will be in the news, providing markets with an overview of pricing pressure ahead of the Reserve Bank of Australia's May board meeting.Westpac said it expects to see a 4.2% yearly gain in headline inflation for the March quarter.The quarterly data is likely to affirm for the Reserve Bank of Australia that the underlying inflation pressures are evident in the economy before the escalation of the Middle East conflict in late February, ANZ said in a preview.In Singapore, March import and export prices will be expected, as well as producer price inflation data.THURSDAY, April 30China's manufacturing and services sectors will be in focus as the National Bureau of Statistics releases its monthly purchasing managers' index covering manufacturing, non-manufacturing, and general PMI for April.The release will be accompanied by a private reading on China's manufacturing sector from S&P Global.Economists at ING said they expect official data to show activity dipped back into contractionary territory following the expansion witnessed in March.ING forecasts manufacturing PMI falling to 49.9 and the non-manufacturing PMI dipping to 49.8, and said it expects to see pricing pressure continuing to build in the PMI sub-indices.Taiwan will release its first-quarter advance gross domestic product growth rate, with markets looking for signs of whether the island state's economy can continue posting stellar growth due to its global positioning in high-precision semiconductor production.Researchers at ANZ expect Taiwan's first-quarter GDP growth rate to come in at 11.8%, slowing from the 12.7% rise witnessed in the prior quarter, the Wall Street Journal reported.In Australia, the first-quarter import and export prices data is expected. CommBank said it expects export prices to rise 1.2% while import prices to decline 0.6%, both on a quarter-on-quarter basis.Meanwhile, a confidence report due in New Zealand is likely to show a further deterioration in business sentiment due to the ongoing Middle East conflict, CommBank said in a preview.Further trade data is expected in the Philippines, which could see its trade deficit widen to $4.1 billion in March from $3.68 billion in April, according to Trading Economics.Both South Korea and Japan will release industrial production and retail sales data for March.ING said it expects Japan's industrial production to "rebound quite firmly" during the month. The firm expects industrial output to rise 2.2% year on year from the 0.4% rise witnessed in February.Japan will additionally release a consumer confidence report for April, while a similar release covering business confidence will be due in Singapore.Singapore's first-quarter preliminary unemployment rate will also be released on Thursday.Thailand's February retail sales stats will be due.FRIDAY, May 1Japan's closely watched Tokyo core consumer price index for April will capture headlines, offering markets an early indicator of the overall inflation rate in the country."The Tokyo CPI is expected to rise faster in April, reflecting recent energy price hikes, a weak JPY, solid wage growth, and bi-annual price adjustments," ING said in a preview.South Korea announces April trade data.The country's trade surplus could drop marginally to $26 billion from $26.2 billion a month prior, even as exports show a 50% year on year growth due to robust chip shipments, ING said.A consumer confidence report due in New Zealand could show sentiment weakening further in April and over the coming months amid the Middle East conflict, CommBank said in a preview."As the conflict progresses, overall consumer confidence is expected to continue falling," CommBank said.Neighboring Australia will release first-quarter produce price data.On the activity front, S&P Global releases its PMI reports covering manufacturing activity in Australia and Japan.

Indian Equities Extend Losing Streak on Friday as Uncertainty Over US-Iran Talks Weighs

Indian benchmark indices declined for a third straight session on Friday as continued uncertainty around U.S.-Iran talks and rising crude oil prices kept pressure on the market.The BSE Sensex fell 982.71 points, or 1.3%, to close at 76,681.29, while the NSE Nifty 50 dropped 275.10 points, or 1.1%, to settle at 23,897.95.Sentiment remained weak as there were no clear signs of progress on a potential peace deal between the U.S. and Iran. Despite the ceasefire, tensions persisted, while the second round of talks did not take place.Crude oil prices have risen sharply this week, adding to investor concerns.Among stocks, Vinyl Chemicals (India) (NSE:VINYLINDIA, BOM:524129) plummeted 10% after reporting a drop in fiscal Q4 profit to 46.5 million rupees from 72.7 million rupees a year earlier.Seamec (NSE:SEAMECLTD, BOM:526807) fell nearly 2% after its vessel "Seamec Swordfish" went into downtime from April 23 due to technical issues. The company said repairs are underway and operations will resume in due course.

India's Private-Sector Growth Accelerates in April: PMI Report

The expansion of India's private sector accelerated in April, led by manufacturers, reported S&P Global on Thursday.India's flash seasonally adjusted composite purchasing manager index (PMI) for output, a combination of the nation's factory and service sectors, logged at 58.3 in April, up from 57.0 in March, and striking further above the 50-mark that separates growth from contraction, reported S&P Global, citing its monthly survey.India's flash manufacturing PMI for output rose to 59.1 in April, up from 55.7 in March, while the nation's services PMI registered at 57.9 in April, up from 57.5 in the previous month, added S&P Global."Aggregate activity and new orders in India's private sector expanded at quicker rates at the start of this fiscal year, after growth receded in March due to the Middle East war," advised S&P Global.India private-sector managers reported indicated that business activitywas supported by capacity expansion, better demand conditions, rising and historically strong new orders, as well as tech investment, said S&P Global.Facing rising demand, India's enterprises again added to payrolls."Employment across India's private sector increased further, with the rate of job creation reaching a ten-month high in April," said S&P Global.However, India's private-sector did face rising costs in April.Business managers "particularly signaled greater outlays on chemicals, food, jute, leather, metals, rubber and transportation. There were also mentions of gas shortages pushing up its price," said S&P Global.Despite Persian Gulf turmoil and inflation in costs of operation, India's business managers were optimistic in April, and expect an increase in output in the coming 12 months.Indian companies expect "marketing efforts should support demand for their goods and services, with projects pending approval and risingclient inquiries also boosting optimism," advised S&P Global.The flash India PMI for April was compiled by S&P Global from surveys sent responses to 400 manufacturers and 400 service providers from April 8 through April 20.

Indian Equities Extend Losses on Thursday as Banking Sell-Off, Crude Oil Surge Weigh

Indian benchmark indices declined sharply on Thursday as selling in banking stocks and higher crude oil prices dragged the market lower.The BSE Sensex fell 852.49 points, or 1.1%, to close at 77,664.00, while the NSE Nifty 50 dropped 205.05 points, or 0.8%, to settle at 24,173.05.Sentiment remained weak amid rising tensions in the Middle East and uncertainty around U.S.-Iran talks. Reports of fresh maritime incidents and lack of clarity on the next round of negotiations kept investors cautious despite an extension of the ceasefire.Union Bank of India (NSE:UNIONBANK, BOM:532477) declined over 7% after reporting a rise in fiscal Q4 profit to 55.0 billion rupees from 50.1 billion rupees a year earlier.Cipla (NSE:CIPLA, BOM:500087) gained nearly 6% after its subsidiary received U.S. FDA approval for Albuterol Sulfate Inhalation Aerosol. The product is expected to be launched in the first half of fiscal 2027.