New Delhi, Nov 28: Ahead of India’s Q2 GDP numbers on Friday, Moody’s Ratings said that the country is projected to clock 7 per cent GDP growth in 2025 and 6.4 per cent in 2026 due to domestic growth and economic resilience amid global disruptions.

The country will lead growth among emerging markets and in the Asia Pacific (APAC) region, said the global rating agency. “India will lead growth among emerging markets and across the region, with GDP growing 7 per cent in 2025 and 6.4 per cent in 2026,” according to a note by Moody’s Ratings.

The average GDP growth in APAC is projected to remain steady at 3.4 per cent in 2026, compared to expected growth of 3.6 per cent in 2025.

According to the rating agency, emerging markets will drive GDP growth in the region, with average growth of 5.6 per cent.

In September, Moody’s Ratings affirmed India’s long-term local and foreign-currency issuer ratings and the local-currency senior unsecured rating at Baa3. The global ratings agency has also maintained its outlook for India as stable.

“The rating affirmation and stable outlook reflect our view that India’s prevailing credit strengths, including its large, fast-growing economy, sound external position and stable domestic financing base for ongoing fiscal deficits, will be sustained,” Moody’s said in its note.

The rating agency has said that the US’ imposition of high tariffs on India will have limited negative effects on India’s economic growth in the near term. “However, it may constrain potential growth over the medium to long term by hindering India’s ambitions to develop a higher value-added export manufacturing sector,” said the rating agency.

India’s credit strength is balanced by long-standing weaknesses on the fiscal side which will remain. Strong GDP growth and gradual fiscal consolidation will lead to an only very gradual decline in the government’s high debt burden, and will not be sufficient to materially improve weak debt affordability, especially as recent fiscal measures to reinforce private consumption erode the government’s revenue base, according to the note.

Seoul, Nov 28: Foreign currency deposits in South Korea declined by the most in about two years in October amid increased corporate repayment of foreign-currency borrowings and overseas investments by pension funds, central bank data showed on Friday.

Outstanding foreign currency-denominated deposits held by residents came to $101.83 billion as of end-October, down $5.26 billion from a month earlier, according to data from the Bank of Korea (BOK), Media reports.

It marked the sharpest monthly fall since January 2024, when deposits declined by $5.78 billion, and the second straight month of decrease.

Residents include South Korean citizens, foreigners who have lived in the country for more than six months, and foreign companies. The data excludes interbank deposits.

“The decline was due mainly to companies’ repayment of foreign-currency borrowings, a drop in investor deposits at securities firms and overseas investment executions by pension funds, among other factors,” a BOK official said.

Corporate foreign currency deposits fell $5.5 billion on-month to $86.76 billion, while individual holdings gained $240 million to $15.07 billion.

By currency, U.S. dollar-denominated deposits dropped $5.08 billion to $85.63 billion, and Japanese yen deposits fell $260 million to $8.63 billion.

Euro deposits were nearly unchanged at $5.01 billion, while Chinese yuan deposits increased $60 million to $1.25 billion, the data showed.

Meanwhile, South Korean stocks traded sharply lower late Friday morning as investors dumped tech shares amid lingering uncertainties over artificial intelligence (AI) technology.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 39.81 points, or 1 per cent, to 3,947.1, as of 11:20 a.m.

Most shares traded in negative territory. Market bellwether Samsung Electronics sank 1.93 percent, and SK hynix fell 0.74 per cent.

Top carmaker Hyundai Motor retreated 0.19 percent, and its sister Kia dropped 0.26 per cent.

Leading battery maker LG Energy Solution tumbled 5.94 per cent, and defense giant Hanwha Aerospace declined 2.2 per cent.

The local currency was quoted at 1,465.5 won against the greenback as of 11:20 a.m., down 0.25 won from the previous session’s close.

Mumbai, Nov 28: Benchmark indices Sensex and Nifty turned positive on Friday after recovering from early losses, supported by buying on dips ahead of the key Q2FY26 GDP data, which will be released later today.

The Sensex rose 101 points to 85,821, up 0.12 per cent, while the Nifty inched up 35 points to 26,251, a gain of 0.14 per cent.

“The Nifty seems likely to stay within a defined range, with near-term resistance in the 26,300–26,350 area and support near 26,050–26,100; dips toward this support zone may offer fresh buying opportunities,” analysts said.

Strong buying in heavyweight stocks such as Mahindra & Mahindra, Tech Mahindra, Titan, SBI, Maruti Suzuki, Hindustan Unilever, Tata Motors PV, and Sun Pharma helped the market erase its morning losses.

However, the overall upside was limited due to weakness in Asian Paints, Power Grid, Adani Ports, Axis Bank, Infosys, Eternal, HDFC Bank, and Tata Steel.

The market action comes a day after both indices hit fresh all-time highs in intra-day trade on Thursday, with the Sensex crossing 86,000 for the first time and the Nifty moving past 26,300.

In the broader market, sentiment remained weak as the Nifty MidCap index slipped 0.16 per cent, while the Nifty SmallCap index fell 0.36 per cent.

Among sectors, Nifty Auto led the gains with a 0.5 per cent rise, followed by Nifty FMCG up 0.16 per cent and Nifty Metal up 0.13 per cent. On the other hand, the Nifty Private Bank index declined 0.15 per cent, weighing slightly on overall market momentum.