Global Economy

Cerebras reports 92% revenue growth in the chipmaker's first earnings report since its IPO.

GameStop CEO Ryan Cohen withdrew a bonus plan worth up to $35 billion so the company can focus on operating performance and its proposed eBay acquisition.

A $7 billion private credit fund run by Morgan Stanley is capping investor withdrawals at 5%, allowing less than half of the redemptions shareholders requested in the second quarter.

Brazil will maintain its scheduled tariff hikes on imported electric and hybrid vehicles, with a 35% import tax on assembled and semi-assembled EVs taking effect in July 2026, while disassembled vehicles will face the same rate from January 1, 2027.

Brazil will introduce additional zero-duty import quotas for disassembled and semi-assembled electric vehicles starting July 1, providing limited relief for automakers amid higher import barriers.

MSCI Inc states that if sufficient progress is not evident by the November 2026 MSCI index review, it will consider a range of options regarding Indonesia.

MSCI says South Korean market participants continue to face significant operational burdens under a reinstated compliance regime.

MSCI warns that if sufficient progress is not evident by the November 2026 index review, it will consider a range of options for the appropriate treatment of the Indonesia market.

MSCI announced the results of its 2026 market classification review.

MSCI Inc. is assessing shareholder transparency and coordinated trading concerns in Indonesian and Turkish equity markets.

MSCI says it may consult on reclassifying Indonesia from emerging markets to frontier markets if sufficient progress is not evident by November 2026.

MSCI says it will consider a range of options for Indonesia's market if sufficient progress is not evident by its November index review.

MSCI Inc. acknowledged announced steps undertaken by Indonesian and Turkish equity markets to address certain matters.

MSCI Inc reports that for Indonesia, market participants have raised profound investability concerns stemming from issues.

MSCI says it is continuing to monitor the implementation of measures aimed at improving accessibility of South Korea's equity market for international institutional investors.

MSCI states that what matters for international institutional investors is consistent implementation and sustained effect of measures across the market in Indonesia.

MSCI Inc. notes continued potential for future consultations on the appropriate treatment of Indonesia and Türkiye if credible progress is not observed.

MSCI says it will continue to assess the scope, consistency, and sustained effectiveness of Indonesia in the context of free float determination and broader investability assessments.

US Commerce Secretary signals possible action on Chinese robots after review, Politico reports

The over-the-counter dollar rate exceeded 75 rubles for the first time in two months, largely driven by expectations of reduced export revenue supply due to falling oil prices. Analysts do not rule out the dollar reaching 80 rubles by end of summer, citing increased demand from the public and importers, as well as Ministry of Finance buybacks under the budget rule.

Singapore inflation held at 1.8% in May, cooler than expected as services costs eased.

Japan’s benchmark Nikkei 225 widened losses, down 2.3% at 70,721.95.

The KOSPI dropped 7.3% on the Seoul stock exchange.

Singapore's core inflation rate was unchanged last month, even as the Middle East conflict had pushed up global prices of energy and fertilizer.

Syntun data shows online sales during China's 618 shopping festival grew 4% year-over-year, down sharply from 15.2% growth last year, amid a persistent consumer spending slowdown, CNBC reports.

Ho Chi Minh City aims for its service sector to grow 12 to 14 percent annually and contribute 60 to 65 percent of its Gross Regional Domestic Product by 2030 under a plan reported by VnEconomy on Tuesday, centered on a planned international financial center.

S&P 500 and Nasdaq closed lower, dragged down by Alphabet and megacap technology stocks, with market focus on Iran.

The average cost of finishing new office space in Moscow reached 170.6 thousand rubles per square meter as of May, up 22% year-on-year. Key drivers include a shortage of qualified workers and engineers, rising contractor costs, higher engineering system costs, and market adaptation to increased tax burden. Developers are increasingly offering offices in new business centers without finishing.

Apollo's flagship retail private credit fund has been hit by redemption requests equal to 17% of its assets, with investors seeking to withdraw nearly $15 billion from major private credit funds.

Momenta Global plans to begin gauging investor interest for a Hong Kong IPO as early as this week, according to sources familiar with the matter.