Data
Uzbekistan GDRs jump on LSE after Fitch vote of confidence in country’s reforms
National investment fund UzNIF enjoys 32% price bounce since groundbreaking IPO.
Indonesian rupiah drops to historic low of IDR18,000 per US dollar
The Indonesian Rupiah has entered highly volatile territory, dropping to its weakest historical valuation on record as the currency broke through its psychological support wall to cross the IDR18,000 per US dollar mark.
PMI shows back-to-back expansions in Kazakhstan's services activity
Job shedding, however, strongest since November 2023.
Russian services downturn deepens as demand weakens and confidence hits three-and-a-half-year low
Russia’s services sector contracted at a faster pace in May as weaker customer demand and financial strains among clients weighed on activity, according to S&P Global data, signalling continued pressure on the economy despite falling inflation.
Hungary's economy gains momentum in Q1 with consumption driving growth
Consumer spending rose sharply as households benefited from sizeable pre-election fiscal transfers and improving confidence.
Azerbaijan's non-oil exports reach $1.1bn in four months as gold surges
Exports of gold, petrochemicals and satellite services posted gains while two SOCAR trading divisions recorded steep declines.
Poland's WSE main market trading volume dips 4.4% y/y in May despite strong underlying activity
WIG index closed the month at 137,007.44 points, gaining 35% y/y.
Kazakhstan's manufacturing remained under pressure in May, PMI data shows
New orders decrease slightly. Record reductions in backlogs and stocks of finished goods.
Near-stabilisation of business conditions in Turkish manufacturing recorded by May PMI
Index at highest since March 2024. However, “safety stock building amid disruption caused by war in Middle East” was a factor.
Weaker investment and consumption hold back Polish GDP expansion in Q1
Poland's GDP grew 3.5% y/y in the first quarter, as household consumption and investment both weakened.
Turkey releases official 1Q GDP growth at 2.5% y/y
The civil servants of economic management tend to release a lower figure in the initial digestion, before revising it up in following releases.
Russian manufacturing PMI downturn eases as output returns despite weaker demand
Russia’s manufacturing sector remained in the red in May, although the pace of decline eased slightly as factories increased production to clear backlogs despite a sharper fall in new orders, according to S&P Global data.
Seoul shares hit record high as tech rally extends
South Korean equities opened at a fresh record high on June 1, as strong demand for technology stocks outweighed uncertainty surrounding negotiations between the US and Iran over a peace agreement.
BofA goes short on 2-month dollar/lira forward contract for 3.3% monthly carry return
Bank’s analysts say Turkey’s rising political uncertainty has led to a repricing of risk, creating a more attractive entry point.
China’s economic growth leaves Japan in the dust.
Thirty years ago in its heyday Japan’s economy was bigger than the whole of Asia combined. Today it is the size of just three Chinese coastal regions.
India's depreciating currency a symptom of structural problems for New Delhi
The Indian rupee lost nearly 11% of its value against the US dollar y/y between May 2025 and May 2026, a slide that makes it the worst performing currency in the world against the greenback.
North Macedonia retail sales growth slows to 2.1% in April
Data points to continued resilience in household consumption, although the pace of overall retail growth moderated significantly from the previous month.
Uzbekistan’s foreign trade grows 6% to $26bn in Jan to April
Exports of $10bn and imports of $16.4bn produce trade deficit of $6.4bn.
Hungarian central bank remains cautious, keeps base rate on hold at 6.25%
MNB says global risks remain elevated due to energy and commodity price volatility and disruption in global supply chains.
Romania’s banking system profitability falls to four-year low in Q1
The sector’s profitability indicators dropped to their lowest levels in four years, after remaining well above the average of other European banking systems in recent years.