China Reduces Russian Oil Imports to 21% Share in January Amid Shifting Energy Supplies

• Indian equity markets are expected to open higher on June 5, with GIFT Nifty futures trading 36 points up at 23,549. • Key stocks in focus include ICICI Bank, Tata Steel, and Groww, alongside rate-sensitive sectors such as banking, auto, realty, and consumer durables.

• South Korean stocks plummeted 4% on Friday, driven by a sharp decline in tech heavyweights following a sell-off of AI-linked names on Wall Street. • The downturn extended across Asia-Pacific markets, with Hong Kong's Hang Seng index dropping 0.46% and the CSI 300 declining 0.29%.

• Equity markets maintained their upward momentum in May 2026, with U.S. stocks rising by 5.26% and world stocks increasing by 3.90%. • All eight tracked asset classes are currently in positive territory year-to-date, signaling broad-based market strength.

• Union Minister Piyush Goyal stated that India is projected to remain the world's fastest-growing economy for the next two decades. • The growth is expected to be driven by an increase in global investments and the expansion of the domestic manufacturing sector.

• Wall Street saw mixed results as the Dow Jones Industrial Average reached a record high, driven by investor optimism regarding easing tensions in Iran. • Gains on the Nasdaq were limited by a chip sector selloff following weak financial results from Broadcom.

• Indian equities closed largely unchanged as persistent tensions in West Asia dampened investor risk appetite and caused market oscillations. • Broader markets showed resilience and outperformed despite recent corrections, signaling strength in specific segments.

• The stock market has reached record highs following stronger-than-expected Q1 financial results. • Analysts warn that Wall Street may be overlooking a growing earnings bubble despite the current rally.

• Oil prices have increased following a series of missile attacks launched by Iran against Kuwait and Bahrain. • A new U.S. proposal targets 16 economies, including Canada, Mexico, the EU, Taiwan, and the UK, with 10% tariffs due to alleged failures in enforcing forced labor bans.

• U.S. stock markets, including the S&P 500, Nasdaq, and Dow Jones, are expected to experience volatile trading on Thursday, with a focus on semiconductor stocks like Broadcom, Micron, and Qualcomm. • Investors are awaiting weekly jobless claims data, which serves as the final economic indicator before Friday's monthly employment report.

• Investors are facing a grim economic outlook as inflation accelerates and economic growth slows under President Trump's administration. • This trend is concerning for the stock market because corporate earnings serve as the primary long-term determinant of stock prices.

• The European Commission unveiled a "tech sovereignty" plan on Wednesday designed to reduce Europe's heavy reliance on foreign technology providers. • Rather than attempting to shut out American competitors, the strategy focuses on boosting domestic European champions to strengthen the region's digital infrastructure.

• Roblox Corporation (RBLX) shares fell 3.70% to $43.29, driven by a reduction in stake by Allen Investment Management. • The stock is currently trading below key moving averages, signaling sustained seller momentum across short, medium, and long-term timeframes.