Former BOJ board member Sayuri Shirai analyzes the BOJ's 25bp rate hike to 1%, the highest since 1995. She notes the decision was fully expected, with the key uncertainty being Deputy Governor Uchida's press conference communication style. She highlights the BOJ's need to address speculative yen short-selling and the risk of yen depreciation beyond 162-163, which would add to imported inflation. She expects a hawkish message from the deputy governor to counter market expectations of a dovish tilt.

Fidelity's Asia economist analyzes China's mixed data: strong industrial production boosted by AI, green-tech exports, and supply chain competitiveness, but weak retail sales and a bifurcated property market. He expects China's oil demand to return slowly after the Iran deal. On the BOJ, he sees more rate hikes ahead as reflation momentum is stable, but focuses on the interaction with fiscal policy and JGB market implications.

Biocon's executive chairperson argues India needs biotech sovereignty in the age of AI to avoid losing its biological data to other countries. She emphasizes India has the talent and science but lacks the investment to scale globally. She notes that while China's generic API business was built by Indian talent, Biocon has zero reliance on China for biologics and fermentation.