SoftBank reported a fiscal first-quarter net profit of 347.3 billion yen, beating analyst expectations. The results were driven by a massive gain on its Intel stake and an increase in ByteDance's valuation.
WuXi AppTec reported a 33.7 per cent rise in H1 net profit to 11.08 billion yuan, beating expectations driven by strong demand for weight-loss and diabetes drugs and US growth.
Wuxi AppTec, Asia's largest contract pharmaceutical research provider, reported H1 net income of 11.08 billion yuan, surpassing market estimates. This strong performance was driven by robust demand for weight-loss and diabetes drugs, alongside significant growth in its US business.
Bitcoin (BTC) holds $60,000 support but faces bear-market expectations and macro headwinds, including US Federal Reserve interest-rate plans, a weakening Japanese yen, and geopolitical tensions.
The Reserve Bank of India's Monetary Policy Committee begins a crucial three-day meeting on June 3, 2026, with a policy announcement expected on June 5. Markets anticipate the repo rate to remain unchanged at 5.25% despite rising crude oil prices and rupee pressure, as inflation remains contained.
Alibaba projects AI revenue to reach 30 billion yuan ($4.42 billion) by year’s end, with AI products expected to generate over 50% of cloud-computing revenue within a year, driven by triple-digit growth in AI-related products for the 11th consecutive quarter.
Indian equity markets fell by 1% as geopolitical tensions between the US and Iran triggered an oil price rally. Investor sentiment was further dampened by disappointing Q4 earnings from Infosys and sustained selling by foreign institutional investors.
LVMH reported 1% organic revenue growth in Q1 2026 to €19.1 billion, missing the 2% analyst forecast. The Middle East, hit by the Iran war, caused a double-digit sales drop and a 1% drag on group growth. Fashion and leather goods fell 2% to €9.2 billion, but watches and jewellery rose 7% and wines and spirits gained 5%. Shares fell over 2% on the news.
