Bajaj Finance reported a sharp increase in net interest income and net profit but fell short of market expectations. Hindustan Unilever reported a muted increase in sales and earnings in the June quarter. Tata Consumer Products plans to launch a rights offering.
Japan indexes rebounded, and worries about an excessive decline in the yen dominated market sentiment. Nippon Yusen revised its first-half and full-year revenue and earnings outlook, citing a tight container shipment market.
A sharp selloff in tech stocks drove market indexes in Japan lower amid rising geopolitical uncertainty. The yen struggled to rebound ahead of the Bank of Japan's policy decisions next week.
The People's Bank of China lowered its key short-term lending rates to support the fragile economic recovery after policymakers last week vowed to offer measures to meet the 5% annual economic growth target.
Reliance Industries reported a decline in June quarter earnings due to the weakness in its crude oil refining margin. HDFC Bank reported better than expected quarterly results. Oberoi Realty signaled positive annual outlook for sales and earnings.
Benchmark indexes in Japan extended weekly losses, and consumer price inflation held steady in June, but core inflation accelerated for the second consecutive month.
China's top policymakers focused on navigating the economy, driven by technological advances and renewable energy, away from construction-led growth. Policymakers reaffirmed 2024 growth estimate of 5%.
Japanese tech stocks suffered heavy losses following the global tech selloff amid rising trade tensions between the U.S. and China. Advanced semiconductor equipment makers plunged as much as 10%. Japan's trade surplus expanded in June after exports rose to China and the U.S.
Market indexes in Shanghai and Hong Kong recovered from earlier losses ahead of the release of new measures at the end of the Third Plenum later in the day.
Benchmark indexes in Japan struggled to advance as investors remained cautious ahead of the release of quarterly results. Toho Co. soared after the entertainment distributor reported a jump in quarterly earnings.
Chinese stocks looked down amid policy uncertainty as policymakers gathered for the much-delayed Third Plenum in Beijing. The IMF revised China's annual economic growth outlook to 5% from the previous estimate of 4.6%.
Market indexes in Tokyo trimmed morning gains amid interest rate uncertainties and yen turbulence as the Bank of Japan struggled to balance its bond purchase plan and hold the yen stable.
Ping An Insurance Group plans to sell convertible debt and raise as much as $3.5 billion. Several large and medium-sized companies are looking to issue U.S. dollar-denominated bonds in the next three months in the hopes that U.S. interest rates have peaked.
Hindustan Unilever agreed to sell its water purification business to the Indian arm of A.O. Smith. Tata Steel said it plans to transition to an electric arc furnace despite resistance from the labor union. Angle One reported a surge in quarterly revenue and earnings.
