World stocks mixed on weak economic data and upbeat earnings
The most recent development came from the Bank of Japan, which held interest rates and increased its inflation forecast. Japan's shorter-dated bond yields rose to their highest since early April, but walked that back after the BOJ's statement. The yen was steady at 149.73 per US dollar, while the Nikkei index closed up just over 1%.
Nasdaq futures gained 1.4% after better-than-expected results from Microsoft and Meta Platforms. S&P 500 futures advanced over 1%. 'Meta and Microsoft have just delivered the kind of earnings most companies can only dream of,' said Dan Coatsworth at AJ Bell.
The Stoxx 600 index was steady around 1025 GMT and on track to end the month 1.6% higher. Regional banks rose over 1.5% after results from Standard Chartered and Societe Generale.
MSCI's broadest index of world shares was flat, weighed by Chinese stocks. China's CSI 300 fell 1.8% and Hong Kong's index closed 1.6% lower.
The Korean won gained 0.3% after Trump said the US would charge a 15% tariff on imports from South Korea, which would invest $350 billion in US projects and purchase $100 billion in US energy.
The Federal Reserve voted 9–2 to hold rates steady. The dollar index steadied at 98.718. US GDP growth beat expectations, but data showed an economy losing steam under Trump's trade policies.— Reuters
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Times of Oman
5 hours ago
- Times of Oman
Trump unwilling to criticise China even after being largest Russian oil buyers, targets India unfairly: GTRI report
New Delhi: US President Donald Trump has been unfairly targeting India over Russian oil imports, while choosing not to criticise China, according to a recent report by the Global Trade Research Initiative (GTRI). The report suggested that this selective approach may be driven by geopolitical calculations. As per the data from the report, China is the largest buyer of Russian oil. In 2024, China imported USD 62.6 billion worth of Russian oil, compared to India's USD 52.7 billion. Despite this, Trump has focused his criticism on India, ignoring China's bigger role. GTRI stated, "Trump appears unwilling to criticize China, perhaps because of geopolitical calculations, and instead targets India unfairly". The report also rejects Trump's recent claim posted on Truth Social, where he alleged that India is "buying massive amounts of Russian oil and selling it on the open market for big profits." GTRI clarified that this statement is factually incorrect and misleading. The think tank explained that India does not export crude oil, Russian or otherwise. India is a net importer of crude oil, and its total crude oil exports stand at zero. What India does export are refined petroleum products, including diesel and jet fuel, some of which are processed from Russian crude. This is standard practice among energy-importing countries, the report said. GTRI further stated that India's oil refineries, both public and private, operate independently in deciding where to source crude oil from. These companies do not need government permission to buy oil from Russia or any other country. Their decisions are based on commercial considerations, including price, supply reliability, and rules in export destinations. The report noted that if Indian refiners find that importing Russian crude involves risks, such as secondary sanctions or restricted access to global markets, they may reduce or stop such imports voluntarily. For example, India exported diesel and aviation turbine fuel (ATF) to the European Union in FY2025, but these exports will now stop due to the EU's ban on products refined from Russian crude. In such cases, refiners will shift away from Russian oil without needing a government order. This trend is already visible. In May 2025, India's imports from Russia declined by 9.8 per cent, amounting to USD 9.2 billion, compared to imports in May 2024. The GTRI report concluded that India is being unfairly targeted, while China's larger role goes unquestioned, possibly due to broader geopolitical interests.
Times of Oman
5 hours ago
- Times of Oman
Trump unwilling to criticize China even after being largest Russian oil buyers, targets India unfairly: GTRI report
New Delhi: US President Donald Trump has been unfairly targeting India over Russian oil imports, while choosing not to criticise China, according to a recent report by the Global Trade Research Initiative (GTRI). The report suggested that this selective approach may be driven by geopolitical calculations. As per the data from the report, China is the largest buyer of Russian oil. In 2024, China imported USD 62.6 billion worth of Russian oil, compared to India's USD 52.7 billion. Despite this, Trump has focused his criticism on India, ignoring China's bigger role. GTRI stated, "Trump appears unwilling to criticize China, perhaps because of geopolitical calculations, and instead targets India unfairly". The report also rejects Trump's recent claim posted on Truth Social, where he alleged that India is "buying massive amounts of Russian oil and selling it on the open market for big profits." GTRI clarified that this statement is factually incorrect and misleading. The think tank explained that India does not export crude oil, Russian or otherwise. India is a net importer of crude oil, and its total crude oil exports stand at zero. What India does export are refined petroleum products, including diesel and jet fuel, some of which are processed from Russian crude. This is standard practice among energy-importing countries, the report said. GTRI further stated that India's oil refineries, both public and private, operate independently in deciding where to source crude oil from. These companies do not need government permission to buy oil from Russia or any other country. Their decisions are based on commercial considerations, including price, supply reliability, and rules in export destinations. The report noted that if Indian refiners find that importing Russian crude involves risks, such as secondary sanctions or restricted access to global markets, they may reduce or stop such imports voluntarily. For example, India exported diesel and aviation turbine fuel (ATF) to the European Union in FY2025, but these exports will now stop due to the EU's ban on products refined from Russian crude. In such cases, refiners will shift away from Russian oil without needing a government order. This trend is already visible. In May 2025, India's imports from Russia declined by 9.8 per cent, amounting to USD 9.2 billion, compared to imports in May 2024. The GTRI report concluded that India is being unfairly targeted, while China's larger role goes unquestioned, possibly due to broader geopolitical interests.
Observer
16 hours ago
- Observer
MoU signed for green hydrogen equipment project in Oman
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