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South Korea’s CPI rose 0.5% MoM in April, matching the 0.5% forecast and rising from 0.3% previously. Annual inflation increased to 2.6% YoY, also matching the 2.6% forecast and higher than the previous 2.2%.

The data shows inflation pressure strengthened, even though the figures were in line with expectations.

Importance: Medium

Possible Market Effect: Higher inflation may reduce room for easier policy from the Bank of Korea and could support the won if markets price a more cautious central-bank stance.

Source: Statistics Korea

Brazil’s IPC-Fipe Inflation Index rose 0.40% MoM in April, slowing from 0.59% previously. The lower reading points to softer monthly inflation pressure in São Paulo consumer prices.

Importance: Medium

Possible Market Effect: Softer inflation may support expectations for a less restrictive policy outlook in Brazil, but the market reaction will depend on whether broader national inflation data confirm the same trend.

Source: FIPE

Mexico’s S&P Global Manufacturing PMI fell to 47.70 in April from 48.90 previously, moving further below the 50 expansion line. The data signals deeper weakness in factory activity and softer manufacturing momentum.

Importance: Low

Possible Market Effect: A weaker PMI may weigh on sentiment toward Mexican industrial assets and could slightly pressure the peso if investors connect the slowdown to softer export demand.

Source: S&P Global

Brazil’s S&P Global Manufacturing PMI rose to 52.6 in April from 49.0 previously, moving back above the 50 expansion threshold. The rebound signals a clear improvement in factory activity after the prior contraction.

Importance: Low

Possible Market Effect: A return to expansion may support Brazilian equities and strengthen the case for resilient domestic industrial momentum, especially alongside investor interest in commodity-linked emerging markets.

Source: S&P Global

South Africa’s total vehicle sales declined to 47.98K in April from 58.06K previously. However, sales were still up 13.00% YoY, though slower than the previous annual growth rate of 17.30%.

The data shows that annual demand remains positive, but the monthly slowdown points to weaker near-term momentum.

Importance: Low

Possible Market Effect: Slower vehicle sales may weigh on South African consumer and auto-sector sentiment, but positive annual growth still suggests demand has not fully weakened.

Source: NAAMSA / South African vehicle sales data

South Africa’s Manufacturing PMI rose to 52.6 in April from 49.0 previously, moving back above the 50 expansion threshold. The rebound points to improved factory activity after the previous contraction.

Importance: Low

Possible Market Effect: A return to expansion may support local equity sentiment and reduce concerns over near-term industrial weakness, though currency performance will still depend heavily on global risk appetite and commodity prices.

Source: S&P Global

Turkey’s preliminary trade deficit narrowed to $8.51 billion in April from $11.22 billion previously. Exports improved to $25.40 billion, up from $21.90 billion, pointing to stronger external sales momentum.

Importance: Low

Possible Market Effect: A narrower trade deficit and stronger exports may offer modest support for the lira outlook, although inflation and external financing conditions remain the main drivers.

Source: Turkish Statistical Institute / Ministry of Trade

Turkey’s Istanbul Chamber of Industry Manufacturing PMI fell to 45.70 in April from 47.90 previously, moving deeper below the 50 expansion threshold. The reading signals a sharper contraction in manufacturing activity.

Importance: Medium

Possible Market Effect: A weaker PMI may weigh on Turkish industrial sentiment, especially when combined with stronger inflation and tighter policy conditions.

Source: Istanbul Chamber of Industry / S&P Global

Turkey’s inflation pressure strengthened in April. CPI rose 4.18% MoM, above the 3.28% forecast and sharply higher than the previous 1.94%. Annual CPI increased to 32.37%, also above the 31.25% forecast and the previous 30.87%.

Core inflation also remained sticky. CPI excluding energy, food, beverages, tobacco and gold rose 3.5% MoM, up from 1.6%, while the annual measure edged up to 29.8% from 29.7%. Producer inflation also increased, with PPI rising 3.17% MoM from 2.30%, and 28.59% YoY from 28.08%.

Importance: High

Possible Market Effect: Stronger-than-expected inflation may increase pressure on the CBRT to keep policy tight and could support Turkish lira stabilization efforts, while limiting room for near-term rate cuts.

Source: Turkish Statistical Institute

Even after the strong rebound in emerging-market equities, valuations remain lower than in the United States. The MSCI Emerging Markets ETF trades at about 18.4 times earnings, compared with 28.9 times earnings for the S&P 500.

This valuation gap remains one of the main reasons investors continue to look at emerging markets, especially when U.S. equities are heavily concentrated in expensive technology and AI-linked names. Cheaper valuations, stronger dividend yields in selected markets, and commodity exposure are helping keep emerging-market assets in focus.

Possible Market Effect: The valuation discount could support continued inflows into selected emerging markets, especially commodity exporters and Asian technology hubs. However, the rally may become more selective if higher oil prices, currency weakness, or tighter global financial conditions pressure weaker EM economies.

Source: MSCI, S&P Dow Jones Indices

South Korea’s S&P Global Manufacturing PMI rose to 53.6 in April, up from 52.6 previously, signaling a stronger expansion in factory activity. The improvement keeps South Korea’s manufacturing sector in positive territory and suggests firmer industrial momentum.

Importance: Low

Possible Market Effect: A stronger PMI may support sentiment toward Korean equities and the won, especially if export-linked sectors show continued resilience.

Source: S&P Global

South Korea’s preliminary April trade data showed strong external activity. Exports rose 48.0% YoY, beating the 45.3% forecast, though slightly below the previous 49.2%. Imports increased 16.7% YoY, above the 14.5% forecast and stronger than the previous 13.2%. The trade balance recorded a surplus of 23.77B, beating the 23.00B forecast but lower than the previous 26.24B.

Importance Level: Low

Possible Market Effect:

Strong exports may support South Korean equities, especially semiconductor and technology names. However, the smaller trade surplus versus the previous reading may limit the positive impact on the won.

Source: Korea Customs Service; Ministry of Trade, Industry and Energy