Overview
- Asian equities fell at the open, with MSCI Asia ex‑Japan down about 0.6% and South Korea dropping as much as 2.7%, before Europe firmed and U.S. futures pointed higher.
- India opened weak and later trimmed losses, with the Sensex closing down 0.06% and the Nifty off 0.08% as the rupee touched a record low near 90.58 per dollar and FPIs remained net sellers.
- Renewed concern about AI-heavy valuations followed sharp drops in Broadcom and Oracle after mixed results, adding to last week’s rotation out of big tech names such as Nvidia.
- The Bank of Japan’s tankan showed big manufacturers’ sentiment at a four‑year high, reinforcing market expectations for a 25‑basis‑point hike to 0.75% later this week.
- Wall Street opened modestly higher and Europe advanced, while bitcoin stayed weak near $88,000, Brent crude hovered around $61, and New York’s Empire State manufacturing gauge slipped to -3.9.