l-year forecast inline (out after the close) • DeNa (social media) posts sales & operating forecasts well below consensus (out after the close) • Bank of Korea unexpectedly cuts rates 25bps to 2.50% from 2.75% (no change had been expected) • China April auto sales come in ahead of forecasts (1.44 million u

EFTA01784778 and 0.2ppt, respectively, in l=ne with our earlier tentative calculation. We reiterate our 2016 GDP forec=st of 2.7% and our call for Bank of Korea (BoK) staying on hold for a while, =ubject to incoming data. India: The GST legislation passed and it is a very material change to indirect taxation