China April CPI rises 1.2% YoY, above estimates; PPI jumps 2.8% vs 1.8% expected.

China car sales drop 21.5% in April as Iran oil shock slams gasoline vehicle deliveries, with electric demand unable to offset slump.

China's car sales fell 21.5% in April, as plunging gasoline vehicle deliveries due to the Iran oil shock offset weak electric car demand.

Reliance reverses Jio IPO plan, will issue new shares instead, Economic Times reports. Move could reshape India's telecom market.

Reliance Industries is reversing its plans for an initial public offering of Jio, potentially India's largest ever, and will instead issue new shares, according to the Economic Times.

India’s PM Modi urges citizens to cut fuel use and avoid non-essential travel, warning rising oil prices from the Iran war threaten to swell import bill and pressure foreign-exchange reserves.

Indian Prime Minister Narendra Modi appealed to citizens to cut fuel use and avoid unnecessary travel as rising oil prices from the Iran war threaten to widen the nation’s import bill and strain foreign-exchange reserves.

Japan intervenes to support yen, slashing bearish positions. The move highlights how official action is unwinding a crowded trade, Bloomberg reports.

Japanese authorities intervened to support the yen, leading to a significant reduction in bearish yen positions. The move underscores how official action is unwinding a crowded trade.