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Asia Markets

Positive Economic Growth Lifts Swiss Stocks; Sonova Gains

Swiss stocks welcomed the new trading week in the green, with the Swiss Market Index closing 0.16% higher on Monday, as investors get ready for a busy week of economic data releases across key global markets.Switzerland's seasonally and sport event-adjusted gross domestic product expanded by 0.5% in the first quarter, following a 0.2% uptick in the prior three-month period, supported by growth in the industrial and services sectors, provisional government data showed.On the labor market front, the country recorded a 0.2% annual growth in the number of employed people in the first quarter, while the unemployment rate rose to 5.2% from 4.7%, according to the latest Swiss Labour Force Survey.Over to corporates, Sonova (SOON.SW) booked sales of 3.61 billion francs in fiscal 2026 and income after taxes of 546 million francs, up 5.9% and 13.9%, respectively, in local currencies. Looking ahead to fiscal 2027, Sonova forecasts consolidated sales growth of between 5% and 8% at constant exchange rates. The Swiss hearing care company's stock gained 7.87% at closing."Strong growth in our Wholesale business, accelerating to 10.9% in local currencies in the second half, reflects our technology and innovation leadership and consistent execution," Chief Executive Officer Eric Bernard said. "With the intended divestment of the Consumer Hearing business, the transition to a regionalized operating model, and a strong pipeline of upcoming product launches across hearing aids and cochlear implants, we are executing our strategy as planned."PolyPeptide Group (PPGN.SW) slipped 0.80% amid chatter that it selected private equity firms EQT and IDG Capital to move forward to its next bidding round, Bloomberg News reported. The sources added that investment company Altaris is also looking at a potential offer for the Swiss pharmaceutical-focused contract development and manufacturing organization.

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Asia Markets

Swiss Market Index Recovers; Sika, PolyPeptide Group Shares Jump

The blue-chip Swiss Market Index bounced back on Tuesday, closing 0.94% higher, as investors digest the latest economy-related and corporate releases while keeping an eye on geopolitical developments.On the macroeconomic front, the International Monetary Fund lowered its 2026 global growth forecast to 3.1% in its April World Economic Outlook report, down by 0.2 percentage point from its previous estimate, under the assumption that the ongoing conflict in the Middle East remains limited in duration and scope. For 2027, the global growth is still expected to stand at 3.2%.For the euro area, the economic growth projections for 2026 and 2027 were both trimmed by 0.2 pp to 1.1% and 1.2%, respectively, while the estimates for the UK were cut by 0.5 pp and 0.2 pp to 0.8% and 1.3%.Back home, Swiss President Guy Parmelin and Federal Councilor Karin Keller-Sutter are set to attend the 2026 IMF and World Bank Spring Meetings and G20 finance ministers meeting in the US this week, according to Switzerland's Federal Council. Swiss National Bank (SNBN.SW) Governing Board Chairman Martin Schlegel will also be part of the delegation."The Spring Meetings will focus on global economic and development policy challenges. In the current environment of geopolitical conflicts and trade tensions, it is particularly important for Switzerland to advocate reliable economic relations and open markets in multilateral bodies and bilateral contacts. Healthy public finances, price stability and a robust global monetary and financial system are also crucial for a resilient economy and lasting prosperity," the government said.Over to corporates, Sika (SIKA.SW) reported a 7% year-over-year drop in first-quarter net sales to 2.49 billion francs. The result was dented by a foreign currency impact of 213 million francs, which the Swiss specialty chemicals group mainly attributed to the franc's strength against Asian currencies and the US dollar. For full-year 2026, the company reaffirmed its sales growth guidance of between 1% and 4% in local currencies. The stock gained 7.94% at closing.PolyPeptide Group (PPGN.SW) also saw its shares rise 4.46% after disclosing that it is at an early stage of reviewing potential strategic options to further improve its long-term value for shareholders. Amid market chatter that it drew takeover interest from certain investors, the Swiss contract development and manufacturing organization noted that it has yet to decide on the review.

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