News

Indian Oil Marketing Company shares fell, falling in the range of 1.7%-2.6%.

A Reuters survey showed that 74% of economists surveyed believe that Japan's monetary intervention is unlikely to continue to curb the depreciation of the yen.

A Reuters poll showed that 65% of economists surveyed expected the Bank of Japan to raise its key interest rate to 1.00% in June.

A Reuters survey showed that 72% of economists surveyed believe that continued inflation will pose a greater risk to the Japanese economy than slowing demand in the next 12 months.

A Reuters survey showed that the Bank of Japan is expected to raise interest rates to 1.25% in the fourth quarter and to 1.50% in the third quarter of 2027 (the same as the April survey).

ANZ: Lowered its year-end gold target price from $5,800 to $5,600.

The governor of Russia's Ryazan region said that a Ukrainian drone attack killed three people in Ryazan city, damaged multiple apartment buildings and hit an industrial company.

Korea Presidential Office: Japanese Prime Minister Takaichi Sanae will meet with President Lee Jae-myung in Andong City, South Korea from May 19th to 20th.

Donald Trump said he raised granting Visa Inc. broader access to Chinese consumers and businesses during his meeting with Xi Jinping. In a Fox News interview, he said Visa CEO Ryan McInerney was present and urged expanded market access for US firms. The issue reflects long-running competition with China UnionPay Co. following China’s 2015 opening of foreign card-clearing services.

Hong Kong stocks opened lower and moved lower, with the Hang Seng Index falling 1% and the Hang Seng Technology Index falling 1.7%.

Hong Kong stocks’ mainland property stocks rose partially. Jinhui Holdings (09993.HK) rose by more than 33%, Ronshine China (03301.HK) rose by more than 11%, Country Garden (02007.HK) rose by more than 3%, Sunac China (01918.HK) and Sino-Ocean Group (03377.HK) rose by more than 1%.

Alphabet Inc. sold ¥576.5 billion ($3.6 billion) of bonds in the largest-ever yen deal by a non-Japanese company, as competition to fund data centers and AI infrastructure intensifies. The offering included ¥200.5 billion of five-year bonds priced at 50 basis points over mid-swaps. The sale is part of nearly $60 billion in recent borrowing by Alphabet and reflects rising demand for yen bonds from global firms amid AI-driven capital spending, with non-Japanese yen issuance up more than 280% this year.

Moody's Ratings: Alphabet (GOOG.O)'s newly issued senior unsecured bonds are rated AA2, with a stable outlook.

US President Trump: Obtaining Iran’s enriched uranium is more for public relations considerations.

US President Trump: Iran’s enriched uranium can be sealed, but I prefer it to be shipped away.

Hong Kong stock Hua Hong Semiconductor (01347.HK) took a short-term dive and is now down more than 7%.

US President Trump: We are working hard for regional countries to reopen the Strait of Hormuz.

US President Trump: He will no longer be too patient with Iran.

US President Trump: The Iranian leaders we are dealing with are rational.

US President Trump: We don’t need to open the Strait of Hormuz.