Business
Korea’s August exports reached $98.25 billion, driven by a 68.7% surge in chip exports. Semiconductors saw a 209% increase, reaching a record-high of $46.65 billion. Other sectors like energy and chemicals also contributed to the growth, with petroleum product shipments rising 65.3% to $6.84 billion. Exports to China and the United States saw significant increases, with Chinese exports surging 119.3% to $24.1 billion and US exports rising 89.3% to $16.5 billion. Minister Kim Jung-kwan noted that non-semiconductor exports grew by 20%, reflecting a broader recovery across secondary industries.
India’s economy grew 7.8% in Q1 FY27 as manufacturing, services and investment expanded. According to the Ministry of Statistics and Programme Implementation, the real gross domestic product (GDP) reached ₹81.36 lakh crore for the quarter, compared to ₹75.46 lakh crore in the same quarter last year. Nominal GDP climbed to ₹88.27 lakh crore, representing a 10.3% increase from ₹80 lakh crore. The real gross value added (GVA), another indicator of economic activity, grew by 8.2% to ₹73.82 lakh crore, while nominal GVA rose by 11.5% to ₹80.53 lakh crore.
Japan stocks remain in focus as Nikkei volatility meets rising bond yields and rate concerns. By the time markets closed on Monday, the Nikkei had regained most of its earlier losses, ending at 66,311.93, which was 93.63 points lower, or 0.14%. This closing level was well above the session’s low and represented the high point of the day. The Topix index finished at 4,156.29, up 0.23%, reversing its initial decline. Market breadth improved as trading advanced, with 131 Nikkei components gaining, 91 declining, and three unchanged. The rebound significantly narrowed a morning decline that had briefly exceeded 2%. Alongside the early dip in equities, Japanese bond yields increased. The benchmark 10-year government bond yield reached 2.95% on Monday, its highest since 1996. The two-year yield climbed to 1.73%, the highest since April 1995. Shorter-term maturities typically reflect expectations for monetary policy adjustments. As bond prices move inversely to yields, this rise indicates falling government debt prices. Additionally, markets priced in higher policy rates for Japan and the United States. Bond yields hit levels not seen in thirty years Technology stocks mainly drove the early decline in equities, following a downturn in U.S. semiconductor shares at the end of last week. The Nikkei’s weighted structure means its largest tech components heavily influence daily movements. However
Al Dahra Agriculture Trading and Egypt’s General Authority for Supply Commodities have formalized a five-year arrangement valued at up to US$500 million for wheat deliveries. This agreement transitions Egypt’s 2023 financing framework into an operational import plan. Under this deal, Al Dahra will supply imported wheat to GASC facilitated by funding from the Abu Dhabi Exports Office. The arrangement specifies the process for procurement under that existing financial program. UAE-backed financing supports a five-year wheat supply program for Egypt. (AI-enhanced image) The pact was signed at Egypt’s Cabinet of Ministers headquarters in El Alamein on Aug. 26, 2026, in a ceremony attended by Egypt’s Supply and Internal Trade Minister Sherif Farouk, who also presides over GASC. Khadim Abdullah Al Darei, co-founder and managing director of Al Dahra, was present as well. The announcement did not specify details about wheat volumes, shipment timelines, origins, or the pricing structure for purchases made under the agreement. The financing scheme originated in August 2023, when ADEX and Egyptian authorities established a revolving system for wheat imports. The program was set at US$100 million, with renewals each year over five years, potentially reaching US$500 million in total. Egypt’s ministries of international cooperation and finance collaborated with GASC in that initial initiative. The 2026 supply agreement now provides the operational framework for GASC’s purchases from Al Dahra within this financing structure
Oil prices experienced a slight bounce on Tuesday after both Brent crude and WTI declined over 2% in the previous trading session. By 0330 GMT, Brent futures increased by 27 cents, or 0.3%, reaching $92.44 per barrel. Meanwhile, U.S. West Texas Intermediate gained 37 cents, or 0.4%, closing at $85.38. This rebound came after Monday’s notable drop, which marked the end of six consecutive sessions of gains for the two major crude benchmarks.
Alibaba Group has announced an HK$80 billion share placement aimed at boosting its investments in artificial intelligence and enhancing its AI infrastructure. The Chinese tech giant will issue 710 million new ordinary shares at HK$112.70 each, translating to roughly US$10.2 billion based on current exchange rates. The company expects the deal to finalize by August 26, pending standard closing conditions. This funding will support the expansion and modernization of its AI infrastructure, including cloud services, models, chips, and applications.