Circle Internet Financial Ltd. $CRCL, the issuer of the widely-used stablecoin USD Coin (USDC), made a dramatic public debut on the New York Stock Exchange, offering a sharp boost to the dormant IPO market, particularly in the crypto-fintech segment. Shares opened at $69 and closed at $83.23, marking a 168% gain from the initial public offering (IPO) price, with intraday highs exceeding $103 due to intense investor demand and elevated volatility. The company’s valuation, on a fully diluted basis, neared $18 billion by the closing bell.

The Indian rupee (INR) is projected to open marginally weaker against the US dollar (USD) on Tuesday, trading within a constrained band, as a lack of directional cues from global markets combines with a broadly stable greenback. Despite upward momentum in regional Asian currencies, the rupee appears less responsive due to underlying structural and macroeconomic factors.

Manufacturing output across Asia declined in May 2025, underscoring renewed challenges in export-dependent economies. Recent private sector surveys revealed that industrial activity fell for a second straight month, driven by weakening demand from China and escalating tariff-related pressures from the United States. With official Chinese data confirming a sustained downturn and manufacturing PMIs in Japan and South Korea remaining in contraction territory, concerns are growing about the durability of the region’s industrial recovery.