印度6月综合PMI终值 57.1，前值57.4。

CSC Financial says AI-driven cost pressure has shifted to the materials end, where exposure is fragmented and many leading suppliers are Japanese. Since H2 2025 bilateral tensions have shown signs of accelerating, tightening supply via de-Japanization while AI-led demand-side inflation reinforces the effect. The firm expects the de-Japanization theme to have further room to run and recommends continued de-Japanization trades, prioritizing domestic powder materials and fluorinated-polymer names for faster growth and accelerating import-substitution opportunities.

RatingDog’s China services PMI fell to 54.1 in June, down 0.3 percentage point from May and remaining in expansion for a 42nd month. New business volumes grew for a 42nd month but at a slightly slower pace; new export orders accelerated sharply, the fastest gain so far this year. Firms’ 12‑month activity expectations stayed optimistic. Input-cost inflation eased and selling prices returned to expansion after two months of slight contraction. Employment rose for a second month, with hiring intentions strengthening. Overall, June shows a modest cooling from May’s peak but underlying activity remains solid.