Morning News & Views - Asia: A Summary of Select Global Markets Research

Research evidence excerpt

Morning News & Views - Asia: A Summary of Select Global Markets Research

lopment and deployment, development of custom agents and advisory services – would create

additional demand. Coforge continues to work on its playbook of scaling accounts, scaling its big bets (focus areas), partner-led

growth and acquisitions to double its revenue to USD5bn by FY30. Disciplined financial rigour to continue.

India Metals - Update on China coking coal disruptions

Jashandeep Singh Chadha - NFASL

China coking coal supply resumes, but recovery remains uneven; seaborne prices stable for now

Mine restarts underway, but supply normalization remains gradual, reinforcing our regulatory-risk thesis. Following the fatal Shanxi

mine accident in late May-26 (link), several suspended coking coal mines have gradually resumed operations. According to a

Mysteel survey (link), 77 mines had restarted by 11 June 2026, representing around 56% of the suspended 137 mines in Shanxi

since 23 May 2026 (Fig. 9). However, the recovery remains uneven, with some mines reportedly suspending operations again after

only a few days of resumption amid intensified safety inspections. Notably, authorities have expanded inspections across major

mining regions, particularly targeting illegal and hidden mining tunnels (link). China domestic coking coal prices continue to reflect

supply concerns. Despite resumption of some mining activity, domestic prices reflect uncertainties around coal availability.

INDONESIA

Sariguna Primatirta (CLEO IJ) (Buy) - Strong earnings growth momentum (TP IDR 680→IDR 620)

Heng Siong Kong - NSM

Fast-growing FMCG firm with potential for 2025-28F NPAT CAGR of +22%; maintain Buy

Five catalysts likely to boost earnings growth.