This episode of The Core Report covers extreme volatility in Asian markets after a sharp dive in South Korean stocks, with the Kospi Index falling 8.8% and triggering a trading halt. In India, the Nifty 50 and Sensex ended lower amid West Asian tensions, while record car sales in May are driven by GST price cuts and strong rural demand. Key topics include the SpaceX IPO frenzy, rupee depreciation, rising fuel costs, and Mumbai's 'No Car Friday' initiative.
Summarized by Podsumo
South Korean stocks plunged 8.8% on Monday, with AI and chip stocks crashing; a 20-minute trading halt was triggered, reflecting high volatility from leveraged ETFs.
India's car sales hit a record high in May—passenger vehicles up 23% year-on-year—driven by GST price cuts and strong rural demand growing at 30% vs. urban's 19%.
Airline profits expected to halve to ~$23 billion in 2026 due to higher fuel costs and West Asian tensions, despite rising revenues and passenger loads.
Mumbai's BKC to trial 'No Car Friday' to reduce congestion, with 90 companies backing it; 82% of commuters said they'd use public transport if services improved.
Indian inflation may reach RBI's 4% target in May due to rising vegetable and fuel prices; rupee fell 0.8% to 95.70 per dollar, its sharpest drop in four weeks.
"The growth which has been absolutely breakneck ever since September is going to stay... it's going to be there for a long, long time to come."
"The entry-level segment is pretty much what we work towards because it really helps us build a portfolio for the future."
"Overall, they think the pace of rupee depreciation may slow, but the overall path remains one of further depreciation."