In today’s briefing:
- Ohayo Japan | US Stocks Extend Losses as Tech Stumbles
- Japan Morning Connection: Markets Stage a Big Rally off the Lows as Dip Buying Takes Hold
- Thematic Report: Can Proposed GST Rate Cuts Revive Consumption Growth in India?
- The Return of China’s Rare Earths and Fertilizers to India
- Exencial Industry Tidings
Ohayo Japan | US Stocks Extend Losses as Tech Stumbles
- US stocks declined Wednesday as tech sell-offs continued, with the Nasdaq falling 0.7%
- Technology stocks led losses with Nvidia down 0.3%, Alphabet declining over 1%, and Micron plummeted nearly 4%
- Mitsui Metals will boost high-performance copper foil production capacity for AI data centers by 45% to 840 tons monthly by September 2026
Japan Morning Connection: Markets Stage a Big Rally off the Lows as Dip Buying Takes Hold
- Enormous intraday moves off the lows for likes of Coreweave and Palantir sets stage for more strength than tape suggests.
- Analog Devices numbers show much needed strength for Automotive segment. Positive for Renesas, Rohm and Fuji.
- Estee Lauder numbers disappoint with China and TR sales failing to keep up with market expectations.
Thematic Report: Can Proposed GST Rate Cuts Revive Consumption Growth in India?
- India is set for its biggest GST overhaul since 2017, with a shift to a dual-slab GST system (5% and 18%) to simplify tax structures, reduce consumer prices, boost consumption
- The proposed rate cuts are likely to drive increased consumption, benefiting sectors like automobiles, cement, and consumer durables, and provide a multi-engine growth boost for the economy.
- With the GST reform potentially lowering inflation, raising private sector investments, and stimulating discretionary spending, we see a positive impact on GDP growth by around 1.6-2% in the medium term.
The Return of China’s Rare Earths and Fertilizers to India
- China has officially lifted its export restrictions on critical items fertilizers, rare-earth minerals, and tunnel boring machines, a major reversal of its 2020 post-Galwan trade stance.
- This development provides immediate relief to key Indian sectors, addressing supply chain bottlenecks in agriculture, high-tech manufacturing, and infrastructure, which were facing critical shortages.
- With renewed bilateral engagement, India’s critical sectors are set for a boost—but challenges around self-sufficiency and market competition remain.
Exencial Industry Tidings
- Storage batteries industry’s sales grow by 6.1% in June 2025 quarter
- Media-Print industry’s sales grow by 3.4% in June 2025 quarter
- Adani Power reports 9.5% fall in conventional electricity generation in July 2025
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