KEY HIGHLIGHTS

• Indian equities have significantly underperformed global markets in 2026, recording a 9.1% decline in US dollar terms according to Bank of America data. • This downturn stands in sharp contrast to strong growth observed in the US, Japan, and broader emerging markets during the same period.

• U.S. stock markets ended the week with losses, while Bitcoin (BTC-USD) experienced a significant price surge. • The U.S. Treasury expanded its buyback programs, and diesel cracks reached record highs, signaling peak refinery profitability and maximum processing capacity.

• Wall Street is preparing for the release of critical economic data next week, focusing on inflation and consumer confidence. • The Conference Board will release its latest consumer confidence report on Tuesday, with analysts expecting a second consecutive monthly decline following a dip in July.

• Union Bank of India's stock has entered a bullish trend after rallying since early July and surpassing a key resistance barrier at ₹178. • The stock found initial support at ₹154 and is currently trading around ₹183, indicating strong upward momentum.

• A diverse set of global headlines for August 22, 2026, highlights China's rejection of Iran sanctions, escalating Ebola outbreaks, and potential conflict between Russia and NATO. • Economic instability is evident through Japan's bond market volatility, private credit concerns, and reported weakness at Walmart.

• Major U.S. stock indices climbed today, with the Dow Jones Industrial Average leading gains at +0.67%, followed by the S&P 500 at +0.37% and the Nasdaq 100 at +0.10%. • The market rally is being driven by a combination of stabilizing crude oil prices and a significant surge in Bitcoin's value.

• Wall Street is preparing for the release of critical economic indicators next week, focusing specifically on inflation and consumer confidence. • The Conference Board is scheduled to release its latest consumer confidence report on Tuesday.

• Union Minister of Commerce and Industry Piyush Goyal met with the Singapore Business Federation (SBF) on Friday in Singapore to strengthen business engagement between the two nations. • Key attendees included SBF Chairman Mark Lee and SBF (India Business Council) Chairman Prasoon Mukherjee, focusing on expanding investment opportunities.

• Thai Prime Minister Anutin Charnvirakul and New Zealand Prime Minister Christopher Luxon met in Wellington on August 21, 2026, to mark the 70th anniversary of diplomatic relations. • The two leaders signed a Joint Declaration on the Strategic Partnership, a move designed to formally strengthen bilateral ties and cooperation between the two nations.

• Thai shares trended sideways down this week, characterized by mild selling pressure and frequent sector rotation. • Investors engaged in periodic buy-backs, notably with TTB shares following a big-lot sale by ING Bank that caused a slight price dip.

• Most Asian share indices are heading for weekly losses on Friday, August 21, driven by persistent stress in global bond markets and rising inflation risks. • The Nikkei slipped 0.8%, bringing its total losses for the week to 4%, while Chinese blue chips dipped 0.1% and markets in South Korea and Taiwan also trended downward.