The Brief: Asia's economy, 31 August 2026

Economies

RBI: India's Domestic Economy Resilient in August: India's economy maintained strength in August 2026, driven by internal demand and activity. This occurred despite global geopolitical and trade uncertainties, the Reserve Bank of India stated in its monthly Bulletin.

Philippines Reopens Poultry Imports from Minnesota, Illinois: Manila has reopened its market to poultry and related products from Minnesota and Illinois. The Department of Agriculture cited the end of bird flu outbreaks in these US states.

Markets

SK Innovation Reabsorbs SKIET for Battery Separator Stability: SK Innovation will absorb its battery separator subsidiary, SK IE Technology (SKIET), bringing the unit back under direct control. This merger reverses a 2019 spinoff, targeting financial stability and operational streamlining for the struggling business.

Seoul KOSPI Rebounds Tuesday, Investors Eye US Tech Earnings: Seoul’s KOSPI index closed higher on Tuesday, recovering initial losses. Investors are monitoring upcoming corporate earnings from US tech firms, including Nvidia, despite a weaker Korean won and foreign investor outflows.

Banking & Fintech

Philippine SEC Warns Fraudulent Apps Harm Fintech Trust: The Philippine Securities and Exchange Commission (SEC) warns of a rise in fraudulent lending applications. These apps impersonate legitimate brands and obscure true costs. This damages public trust in the online lending sector. It also increases operational costs for compliant fintech firms.

UOB vs Lippo Marina: Singapore Court Quadruples Damages to S$76.1M: Singapore's Appellate Division of the High Court significantly increased damages awarded to UOB against developer Lippo Marina Collection for fraudulent housing loan disbursements.

Philippine Supreme Court Rejects BDO Unibank Claim, Cites Bank Negligence: The Philippines' Supreme Court denied BDO Unibank's bid to reclaim funds, ruling the bank's gross negligence caused the loss. The decision establishes banks cannot recover money when their own operational errors lead to premature withdrawals.

Industries

Eternal Materials' July Revenue Jumps 23.86% on Packaging: Eternal Materials saw July revenue climb to NT$4.093 billion, a 23.86% annual gain. Demand from the electronics supply chain, particularly advanced packaging, drove the increase.

China's Sawes Energy Generates Power From 4,000m Altitude Wind: Beijing-based Sawes Energy Technology has successfully generated electricity using its S4000 airborne wind system at 4,000 metres. This advancement could provide power to remote areas across Asia.

Bain Capital Buys Gong Cha as China Bubble Tea Slows: Bain Capital has completed a full equity buyout of Gong Cha Global. This acquisition reveals a shift in investment focus within Asia's bubble tea sector, as China's market growth moderates.

AIIB Targets Record Fundraising for Climate, Local Currency Projects: The Asian Infrastructure Investment Bank (AIIB) seeks record fundraising this year. Its capital will fund climate adaptation projects and local currency financing across Asia.

Indonesia Instant Noodle Demand Drops 1% in 2025, First Fall in Five Years: Indonesia, the world's second-largest instant noodle market, saw demand contract by almost 1% in 2025. This marks the first annual decline in five years, attributed to reduced consumer purchasing power and rising costs.