The Brief: Asia's economy, 24 August 2026

Economies

South Korea's Household Credit Exceeds ₩2,000 Trillion in Q2 2026: South Korean household credit surpassed ₩2,000 trillion in the second quarter of 2026, driven by rising home-backed and stock loans. This marks the seventh consecutive quarterly increase, despite government efforts to curb debt.

South Korea: BOK Expected to Hike 2026 Growth Outlook Above 3% on Exports: South Korea's central bank will likely raise its 2026 economic growth forecast beyond 3%, driven by stronger semiconductor exports and recovering domestic demand. This revision would mark an increase from its previous 2.6% projection made in May.

Singapore COE Premiums Climb; Industry Expects Sustained Highs: Singapore's Certificate of Entitlement (COE) premiums rose across all passenger car categories in the latest bidding. Automotive industry observers anticipate these elevated prices will continue, driven by a persistent supply shortfall.

Cambodia's Trade Deficit Widens to $2.44 Billion Through July: Cambodia's total trade volume reached $44.07 billion in the first seven months of 2026, a 21.3% year-on-year increase. This growth led to a widened trade deficit, hitting $2.44 billion, according to data from the General Department of Customs and Excise (GDCE).

Markets

Druckenmiller, Tepper Reshuffle China Tech Holdings, Boost Baidu: US billionaire investors Stanley Druckenmiller and David Tepper adjusted their Chinese technology stock holdings in the second quarter, both increasing Baidu exposure while Tepper cut other internet firms.

Robinsons Retail Delisting Approved by PSE: The Philippine Stock Exchange approved Robinsons Retail Holdings Inc.'s voluntary delisting, effective August 31. This follows a tender offer that cut the retailer's public float to 0.31 percent.

Banking & Fintech

GCash, EMCOR Expand Digital Payment Access Across Mindanao, Visayas: Digital payments firm GCash partnered with Mindanao-based retailer EMCOR to introduce scan-to-pay and installment options. This collaboration covers 174 branches, extending digital finance to new areas.

Singapore Private Bank Onboarding Still Takes Months Despite MAS Goal: Wealthy clients in Singapore still face lengthy private bank account opening times, often taking months. This persists despite a Monetary Authority of Singapore-backed industry target to complete most onboarding within a month by end-2026.

Thunes, Circle Launch EURC Payments for 24/7 Global Treasury: Thunes now allows network members to fund cross-border transactions around the clock using Circle's euro-backed stablecoin, EURC. This service enables treasury management outside traditional banking hours for businesses globally, including those in Asia.

Industries

Top Line Light Fuels Expands to Negros Oriental, Adds Capacity: Top Line Business Development Corp. opened its first Light Fuels service stations in Negros Oriental. This expansion adds 600,000 litres of monthly sales capacity to its network.

Lee Kong Chian Family Company Sells Singapore Land for S$578 Million: A company linked to Singapore’s late “rubber king” Lee Kong Chian family has sold an 18,860-square-meter plot in the city-state for S$578 million (US$453 million).

Oura Ring 5 Launches in South Korea, Challenges Samsung with Subscription Model: Finnish firm Oura launches its smart ring in South Korea on August 25, directly competing with Samsung's Galaxy Ring. Oura's device carries a higher price and a mandatory monthly subscription, contrasting Samsung's no-fee approach.

Nvidia Cuts OpenAI Data Centre Funding Guarantee to Under US$120 Billion: Nvidia has significantly reduced its financial guarantee for a proposed OpenAI data centre in Ohio. The commitment dropped from US$250 billion to less than US$120 billion, following investor concerns over risk exposure, the Wall Street Journal reported.

SK Group, TerraPower Deepen Nuclear Tie for AI Data Centre Power: South Korea's SK Group and TerraPower, backed by Bill Gates, are expanding their nuclear power collaboration. They target stable energy supplies for high-demand AI data centres, moving beyond initial investment into strategic business development.

Tropical Cities Grapple With Rising Urban Heat Island Mitigation Costs: Tropical cities face escalating costs to combat urban heat islands, which intensify humid conditions and health risks. Affordability and comprehensive measurement remain key hurdles.

Wealth

RBI Finalises ₹14,957 Redemption Price for August 2026 Gold Bonds: The Reserve Bank of India (RBI) announced the premature redemption price for two tranches of Sovereign Gold Bonds (SGBs) due on August 11, 2026, setting it at ₹14,957 per unit.