India, the world’s second-largest sugar producer, is expected to import sugar for a second consecutive year in 2025-26 after domestic prices surged to a record high on lower output. Prolonged rainfall shortages in Maharashtra and Karnataka, along with state decisions to prioritise reservoir water for drinking over irrigation, are set to sharply reduce sugar content in cane slated for crushing from October. The lower sugar recovery is expected to further tighten supplies and weigh on production.

IAC group chairman Barry Diller’s People Inc has withdrawn its more than $18 billion offer to acquire MGM Resorts, sending the casino operator’s shares down 10% in Thursday premarket trading. The drop erased the entire run-up triggered by takeover speculation, Reuters reported. MGM was trading at $34.40 in premarket, set for its weakest open in seven months and below where it traded before the approach. Diller said the proposed deal was not progressing as expected.

HSBC plans to re-enter India’s equity broking market after 13 years, aiming to use an existing licence to roll out retail broking services to meet demand from affluent clients and take advantage of a strong IPO pipeline. The move reverses the bank’s 2013 exit from domestic retail brokerage and depository services and reflects rising global-bank focus on India’s capital markets and wealth management. HSBC India reported a 4% year-on-year increase in net profit in the first half of 2026, driven by higher revenue from its corporate and institutional banking businesses.

Japan’s Nikkei 225 rose 1.33% on Thursday to 65,883.41, helped by a rally in CPU-related technology shares after Meta unveiled its new Meta Charm device. Chip-testing equipment maker Advantest gained 4.09% and provided the biggest boost to the index, while semiconductor suppliers such as Ibiden also advanced. Bank shares faced pressure after the 10-year Japanese government bond yield climbed to a multi-year high of 3.055%, but the broader Topix still edged up 0.12% to 4,096.01.

U.S. stocks ended lower as Alphabet and Amazon weighed on the major indexes, while Treasury yields climbed and oil prices jumped nearly 4%. Energy shares rallied after Iranian President Masoud Pezeshkian spoke at the United Nations, adding to geopolitical jitters, but the broader market remained under pressure. Separately, unexpectedly strong U.S. business activity pushed bond yields higher and fueled speculation the Federal Reserve could raise rates again. The S&P 500 finished less than 2% below its record close on August 13.

Grab executives bought more than $30 million worth of company shares this week after the stock slid to a more than three-year low of $2.74 following its deal to acquire buy-now-pay-later provider Atome Financial. The company also said it plans to buy back around $900 million shares over the next 12 months, but the September 15 announcements failed to lift the stock. Grab shares have tumbled 50% over the past year.

Investor Michael Burry has disclosed a long position tied to copper producer Ero Copper. Expectations for further gains in the metal have been bolstered by supply constraints, falling inventories and limited new mine discoveries. Copper on the London Metal Exchange has risen 18% so far this year, and global mined copper output could decline this year for the first time since 2017, according to Axis Securities.

Grab Holdings executives bought more than $30 million of company shares this week in a bid to shore up investor confidence. The purchases followed a roughly 50% slide in the stock over the past year after Grab said it plans to acquire buy-now-pay-later provider Atome Financial for up to $4.5 billion and launch a $900 million share buyback. The shares fell to $2.74 on Friday, the lowest level since May 2023.

India’s domestic gold price is trading below import parity, with the discount widening sharply from $34/oz in July to $78/oz by midSeptember. Ample supply from old-gold exchange and unofficial channels has kept local prices under pressure. Although Indian gold ETFs added 1.6 tonnes in August—up 67% monthonmonth—imports fell 45% m/m, indicating local supply is sufficient to meet demand.