Indian WPI Manufacturing YoY (Apr) Y/Y 4.62% (Prev. 3.39%)

The Indian WPI Manufacturing YoY figure for April came in at 4.62%, up from the previous 3.39%.

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Iranian Foreign Minister Araghchi says "In our view, the Strait of Hormuz is open to all commercial ships, but they must cooperate with our naval forces"; adds "hope this situation will end with the lifting of this illegal blockade imposed by America"

[MARKET UPDATE] Crude falls in excess of USD 1/bbl over ten minutes to the benefit of Fixed Income and Equities; no specific driver, potentially among Aragchi comments "do not seek war"

Indian WPI Manufacturing YoY (Apr) Y/Y 4.62% (Prev. 3.39%)

India is reportedly mulling reducing taxes on taxes on foreign bond investments

Sumitomo Bakelite (4203 JT) is to raise the prices of chip material by 10-20%

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This larger-than-expected increase may indicate rising inflation pressures that could influence the Reserve Bank of India's policy stance moving forward. Market participants should watch for potential implications on interest rates and the broader economic outlook.

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