Market Update
India's Trade Deficit Shrank and Jobless Rate Eased In August, Vehicle Sales Dropped 9%
Arjun Pandit
16 Sep, 2025
Mumbai
India's market indexes advanced on Tuesday following positive economic data.
The Sensex index increased 0.5%, the Nifty index edged up 0.4%, and the Indian rupee strengthened to 88.04 against the U.S. dollar.
Overall trade deficit shrank, jobless rate fell, but passenger vehicle sales fell sharply in August.
India's Trade Deficit Improved In August
India's overall exports and imports advanced, and the trade deficit shrank in August, according to the latest data released by the Ministry of Commerce and Industry.
Overall exports increased 10% to $69.2 billion from $63.2 billion, imports decreased 7% to $79.0 billion from $85 billion, and the trade deficit shrank to $9.9 billion from $26.7 billion a year ago, respectively.
Goods exports rose to $35.1 billion from $32.9 billion, and imports shrank to $61.6 billion from $68.5 billion a year ago, respectively.
Exports of gems & jewelry increased by 15.6% to $2.3 billion from $2.0, petroleum products increased by 6.5% to $4.5 billion from $4.2 billion, and drugs & pharmaceuticals increased by 6.9% to $2.5 billion from $2.3 billion a year ago, respectively.
Services exports surged to $34 billion from $30.3 billion, and imports rose $17.5 billion from $16.5 billion a year ago, respectively.
August's Jobless Rate Dropped to Record Low
India's jobless rate improved for the second consecutive month to August and dropped to a record low, according to the latest update from the National Statistical Office.
Overall, the jobless rate edged lower to 5.1% from 5.2% in July, and the labor participation rate inched higher to 55% from 54.9% in July.
India's Vehicle Sales Dropped 9% In August
Passenger vehicle sales plunged 9% from a year ago in August as consumers retrenched, according to a report released by the Society of Indian Automobile Manufacturers.
Passenger vehicle sales dropped to 280,839 units from 301,000 in the previous month, amid stagnant wages and elevated vehicle prices.
The monthly data excludes sales from Mercedes-Benz, BMW, Jaguar Land Rover, and Volvo.
"The landmark decision of the Government of India to reduce the GST (Goods and Services Tax) rates on vehicles will go a long way in enabling broader access to mobility and injecting fresh momentum into the Indian automotive sector in the upcoming festive season," said Rajesh Menon, Director General of SIAM.
India Indexes and Stocks
The Sensex index increased 0.5% to 82,171.76, and the Nifty index gained 0.4% to 25,179.35.
NCC Ltd. increased 1.6% to ₹215.55 after the company won a 2,090.5 crore order from the Water Resources Department of Bihar.
Adani Enterprises advanced 0.4% to ₹2,392.90 after the company won an order worth 4,081 crore for constructing a 12.9 km ropeway connecting Sonprayag to Kedarnath.
NTPC Green Energy advanced 2.2% to ₹105.79, and the company commissioned a 25 MW solar energy project in Gujarat.
Japan Indexes Closed at New Highs Ahead of Rate Decisions
Akira Ito
16 Sep, 2025
Tokyo
Stock market indexes in Tokyo edged higher on Tuesday, tracking overnight gains on Wall Street.
The Nikkei 225 Stock Average inched up 0.4%, and the broader Topix gained 0.3%, and investor sentiment was positive following the 3-day weekend.
The Bank of Japan is widely anticipated to hold its short-term rate at 0.5% and update its inflation and economic growth outlook following a two-day meeting on Friday.
Investor sentiment was cautious amid the lingering uncertainty about the Japan-US trade talks and the LDP leadership elections after the sudden resignation of the prime minister, Shigeru Ishiba.
The Bank of Japan is worried that the export-driven economy of Japan may struggle to expand amid unpredictable U.S. trade policy, and wage gains at small- and mid-sized corporations are lagging increases at larger and export-driven companies.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged up 0.4% to 44,908.62, and the broader Topix inched higher 0.3% to 3,170.26.
Semiconductor equipment makers led gainers in Tokyo following sharp increases in tech stocks in New York.
Tokyo Electron Ltd. increased 1.9% to ¥23,015.0, Advantest Corp. added 1.3% to ¥14,130.0, and Disco Corp. jumped 8.2% to ¥44,460.0.
Toyota Motor Corp. added 1.6% to ¥2,934.50, Honda Motor Co. Ltd. increased 0.7% to ¥1,661.0, and Nissan Motor Co. Ltd. decreased 0.4% to ¥363.0.
Japan Indexes Closed at New Highs Ahead of Rate Decisions
Akira Ito
16 Sep, 2025
Tokyo
Stock market indexes in Tokyo edged higher on Tuesday, tracking overnight gains on Wall Street.
The Nikkei 225 Stock Average inched up 0.4%, and the broader Topix gained 0.3%, and investor sentiment was positive following the 3-day weekend.
The Bank of Japan is widely anticipated to hold its short-term rate at 0.5% and update its inflation and economic growth outlook following a two-day meeting on Thursday.
Investor sentiment was cautious amid the lingering uncertainty about the Japan-US trade talks and the LDP leadership elections after the sudden resignation of the prime minister, Shigeru Ishiba.
The Bank of Japan is worried that the export-driven economy of Japan may struggle to expand amid unpredictable U.S. trade policy, and wage gains at small- and mid-sized corporations are lagging increases at larger and export-driven companies.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged up 0.4% to 44,908.62, and the broader Topix inched higher 0.3% to 3,170.26.
Semiconductor equipment makers led gainers in Tokyo following sharp increases in tech stocks in New York.
Tokyo Electron Ltd. increased 1.9% to ¥23,015.0, Advantest Corp. added 1.3% to ¥14,130.0, and Disco Corp. jumped 8.2% to ¥44,460.0.
Toyota Motor Corp. added 1.6% to ¥2,934.50, Honda Motor Co. Ltd. increased 0.7% to ¥1,661.0, and Nissan Motor Co. Ltd. decreased 0.4% to ¥363.0.
China and U.S. Tout Trade Framework Agreement Again, Hesai Group In Focus After Hong Kong Listing
Li Chen
16 Sep, 2025
Hong Kong
Stock market indexes in China and Hong Kong lacked direction, and investors awaited details of the US-China "trade framework agreement."
The Hang Seng index fluctuated around the flatline, and the mainland-focused CSI 300 index edged down 0.4% following mixed macroeconomic data on Monday.
Investor sentiment was cautious, and US-China trade negotiations in Madrid, Spain, showed a little progress.
Both sides agreed to lower trade and investment barriers and "agreed" to "transfer" ownership of TikTok to a U.S.-controlled entity.
The leaders of the two nations are expected to talk on Friday; however, expectations for a trade agreement are low.
Moreover, only a month is left for China to finalize its purchase of U.S. soybeans, and China purchases as much as 50% of U.S. soybeans.
The U.S. government heavily subsidizes local farmers to produce soybeans, corn, and wheat, and a significant amount of crop production is exported to China and other nations.
China Indexes and Stocks
The Hang Seng index was nearly unchanged at 26,466.45, and the mainland-focused CSI 300 index decreased 0.4% to 4,515.86.
Tariff and international travel-sensitive stocks were in focus in Shanghai and Hong Kong.
Trip.com Group advanced 3% to HK$591.0, Alibaba Group Holding decreased 0.3% to HK$154.10, and China Hongqiao Group dropped 5% to HK$25.22.
Hesai Group jumped 11% to HK237.20, and the mainland-based company listed its stock on the Hong Kong Stock Exchange.
The lidar sensor maker sold 19.55 million shares and raised about HK$4.2 billion, or US$531 million, in a secondary offering. International investors purchased about 90% of the stocks.
China and U.S. Tout Trade Framework Agreement Again, Hesai Group In Focus After Hong Kong Listing
Li Chen
16 Sep, 2025
Hong Kong
Stock market indexes in China and Hong Kong lacked direction, and investors awaited details of the US-China "trade framework agreement."
The Hang Seng index fluctuated around the flatline, and the mainland-focused CSI 300 index edged down 0.4% following mixed macroeconomic data on Monday.
Investor sentiment was cautious, and US-China trade negotiations in Madrid, Spain, showed a little progress.
Both sides agreed to lower trade and investment barriers and "agreed" to "transfer" ownership of TikTok to a U.S.-controlled entity.
The leaders of the two nations are expected to talk on Friday; however, expectations for a trade agreement are low.
Moreover, only a month is left for China to finalize its purchase of U.S. soybeans, and China purchases as much as 50% of U.S. soybeans.
The U.S. government heavily subsidizes local farmers to produce soybeans, corn, and wheat, and a significant amount of crop production is exported to China and other nations.
China Indexes and Stocks
The Hang Seng index was nearly unchanged at 26,466.45, and the mainland-focused CSI 300 index decreased 0.4% to 4,515.86.
Tariff and international travel-sensitive stocks were in focus in Shanghai and Hong Kong.
Trip.com Group advanced 3% to HK$591.0, Alibaba Group Holding decreased 0.3% to HK$154.10, and China Hongqiao Group dropped 5% to HK$25.22.
Hesai Group jumped 11% to HK237.20, and the mainland-based company listed its stock on the Hong Kong Stock Exchange.
The lidar sensor maker sold 19.55 million shares and raised about HK$4.2 billion, or US$531 million, in a secondary offering. International investors purchased about 90% of the stocks.
U.S. and Global Markets Retained Upward Bias Ahead of Rate Decisions from Major Central Banks
Barry Adams
15 Sep, 2025
New York City
Wall Street indexes on Monday edged higher and extended the previous week's gains.
The S&P 500 index advanced 0.2%, and the Nasdaq Composite increased 0.1%, as investors shift focus to the Fed's rate decisions this week.
Investors are hoping that the recent reports on employment and inflation will convince policymakers to lower rates after the policy meeting on Thursday.
The Federal Reserve's policy committee members are struggling to balance the dual mandate of maximum employment and price stability.
While inflation is contained but far from the Fed's target rate of 2%, policymakers are worried about the lagging impact of the sharp escalation in import taxes on goods.
Moreover, job market conditions are deteriorating as businesses are not firing but also not hiring new employees, and the average increase in payrolls in the past three months to August fell to 29,000.
Stock market indexes are creating new peaks, but the broader economy is showing signs of exhaustion from the Trump administration's erratic trade policy.
Businesses are stalling investment decisions, farmers are suffering from the collapse in corn and soybean prices, the manufacturing sector is shrinking employment, and construction projects are struggling amid an exodus of migrants.
At least one-third of independent farmers are likely to face bankruptcy if the Trump administration fails to strike a trade deal with China.
Moreover, as many as 150,000 independent retailers, importers, and distributors are likely to go out of business by the end of 2025, following the sharp hike in import duties.
In the week ahead, the Fed's rate decisions and quarterly results from key companies are likely to dominate trading sentiment.
The central bank is expected to resume its rate cut campaign on Thursday, and investors are anticipating a rate cut of at least 25 basis points.
The Federal Open Market Committee is expected to lower the fed funds rate range to between 4.0% and 4.25% and update its inflation, jobless rate, and economic growth outlook for 2025.
Moreover, retail sales in August are expected to show an annual increase of at least 3%, while industrial output is likely to stall.
On the earnings front, investors are looking forward to quarterly results from General Mills, Cracker Barrel, Dave & Buster's Entertainment, FedEx, Darden Restaurants, Progressive Corp., FactSet Research, and Scholastic Corp.
The central banks of the UK, Japan, and Norway are set to announce their rate decisions this week.
U.S. Stock Movers
Tesla Inc. soared 7.7% to $426.26 after a regulatory filing with the SEC showed that the company's chief executive, Elon Musk, acquired a total of $1.01 billion worth of its stock on Friday.
Nvidia Corp. decreased 1.6% to $174.87 after a Chinese regulator said that the advanced chipmaker violated the country's anti-monopoly law.
U.S. and Global Markets Retained Upward Bias Ahead of Rate Decisions from Major Central Banks
Barry Adams
15 Sep, 2025
New York City
Wall Street indexes on Monday edged higher and extended the previous week's gains.
The S&P 500 index advanced 0.2%, and the Nasdaq Composite increased 0.1%, as investors shift focus to the Fed's rate decisions this week.
Investors are hoping that the recent reports on employment and inflation will convince policymakers to lower rates after the policy meeting on Thursday.
The Federal Reserve's policy committee members are struggling to balance the dual mandate of maximum employment and price stability.
While inflation is contained but far from the Fed's target rate of 2%, policymakers are worried about the lagging impact of the sharp escalation in import taxes on goods.
Moreover, job market conditions are deteriorating as businesses are not firing but also not hiring new employees, and the average increase in payrolls in the past three months to August fell to 29,000.
Stock market indexes are creating new peaks, but the broader economy is showing signs of exhaustion from the Trump administration's erratic trade policy.
Businesses are stalling investment decisions, farmers are suffering from the collapse in corn and soybean prices, the manufacturing sector is shrinking employment, and construction projects are struggling amid an exodus of migrants.
At least one-third of independent farmers are likely to face bankruptcy if the Trump administration fails to strike a trade deal with China.
Moreover, as many as 150,000 independent retailers, importers, and distributors are likely to go out of business by the end of 2025, following the sharp hike in import duties.
In the week ahead, the Fed's rate decisions and quarterly results from key companies are likely to dominate trading sentiment.
The central bank is expected to resume its rate cut campaign on Thursday, and investors are anticipating a rate cut of at least 25 basis points.
The Federal Open Market Committee is expected to lower the fed funds rate range to between 4.0% and 4.25% and update its inflation, jobless rate, and economic growth outlook for 2025.
Moreover, retail sales in August are expected to show an annual increase of at least 3%, while industrial output is likely to stall.
On the earnings front, investors are looking forward to quarterly results from General Mills, Cracker Barrel, Dave & Buster's Entertainment, FedEx, Darden Restaurants, Progressive Corp., FactSet Research, and Scholastic Corp.
The central banks of the UK, Japan, and Norway are set to announce their rate decisions this week.
U.S. Stock Movers
Tesla Inc. soared 7.7% to $426.26 after a regulatory filing with the SEC showed that the company's chief executive, Elon Musk, acquired a total of $1.01 billion worth of its stock on Friday.
Nvidia Corp. decreased 1.6% to $174.87 after a Chinese regulator said that the advanced chipmaker violated the country's anti-monopoly law.
U.S. Movers: RH, Designer Brands, Skillsoft
Scott Peters
12 Sep, 2025
New York City
RH fell 5% to $207.99 after the home furnishing retailer reported a weaker-than-expected sales in the fiscal second quarter ending on August 2.
Consolidated revenue decreased to $899.2 million from $929 million, net income jumped to $51.7 million from $29 million, and diluted earnings per share rose to $2.62 from $1.45 a year ago.
The company guided full-year revenue to increase between 9% and 11%, adjusted operating margin to rise between 13% and 14%, adjusted EBITDA margin to be between 19% and 20%, and free cash flow to be between $250 million and $300 million.
The company guided third-quarter revenue to increase between 8% and 10%, adjusted operating margin to rise between 12% and 34%, and adjusted EBITDA margin to be between 18% and 19%.
The outlook reflects a 270-bps operating margin impact from international expansion and 120 bps from tariffs, net of mitigations.
During the second quarter, RH Corp returned a total of $2.2 billion to shareholders through share repurchases.
Designer Brands Inc. dropped 7.5% to $4.19 after the footwear manufacturer and retailer reported a 22% decline in net income in the fiscal second quarter ending on August 2.
Consolidated revenue decreased to $739.8 million from $771.9 million, net income declined to $10.8 million from $13.8 million, diluted earnings per share fell to 22 cents from 24 cents, and comparable sales decreased by 5.0% from a year ago.
Due to global trade-related uncertainty, the company did not reinstate its full-year 2025 guidance.
Skillsoft Corp. fell 5.2% to $12.60 after the digital learning and training provider reported a narrower net loss in the latest quarter ending on July 31.
Consolidated revenue edged down to $128.8 million from $132.2 million, net loss shrank to $23.8 million from $39.6 million, and diluted losses per share eased to $2.78 from $4.84 a year ago.
Skillsoft guided full-year revenue to be between $510 million and $530 million, and adjusted EBITDA between $112 million and $118 million.