The Brief: Asia's economy, 2 September 2026

Economies

Singapore Scam Losses Drop to S$410.6 Million in H1 2026: Singapore recorded fewer scam cases in the first half of 2026, but victims still lost S$410.6 million. Investment scams caused the largest financial impact, while business email compromise losses nearly tripled.

Markets

Indian IPOs: Hy-Tech, Symbiotec Close; Lumino Sees Strong Demand: Three Indian initial public offerings (IPOs) – Hy-Tech Engineers, Skyways Air Services, and Symbiotec Pharmalab – concluded their subscription periods on 27 August 2026, all fully subscribed. Lumino Industries' new IPO also received significant investor interest on its opening day.

Seoul Kospi Jumps on Nvidia Earnings, Easing Chip Demand Fears: South Korea's Kospi index climbed sharply after Nvidia's strong second-quarter earnings calmed investor worries about semiconductor demand. The Bank of Korea's upcoming rate decision also drew attention.

US Fed Chair Warsh Jackson Hole Speech Drives Rate Policy Watch: Investors await US Federal Reserve Chair Kevin Warsh's inaugural Jackson Hole address for critical signals on interest rates and monetary policy, anticipating global asset shifts.

TRM Labs Names Former MAS Official Ziqing Ang APAC Policy Head: TRM Labs appointed Ziqing Ang, a former Monetary Authority of Singapore (MAS) official, to lead its Asia-Pacific policy on digital asset crime and emerging threats.

Banking & Fintech

Singapore Asset Management Seeks Regulatory Clarity: Singapore's asset management sector is pressing for clearer, faster rules on new government initiatives. Firms need specific details on eligibility, scheme operations, and tax treatment to drive investment decisions amidst competition from Hong Kong.

Prudential Buys Back US$300 Million in Shares as Profit Growth Slows: British insurer Prudential announced a US$300 million share buy-back. New business profit growth slowed to 8% in H1, raising concerns over Hong Kong's mainland visitor impact.

UOB Prices €1 Billion Euro Covered Bond, First From Asia: Singapore's UOB completed a landmark €1 billion euro-denominated covered bond offering, becoming the first Asian issuer to do so. Strong investor demand allowed the bank to achieve tighter pricing for both two-year and five-year tranches.

Industries

Vingroup Lands Bac Ninh Plot for US$1.5 Billion Urban Project: Vietnam’s largest listed company, Vingroup, secured 112 hectares in Bac Ninh Province for a US$1.5 billion urban development. This initial allocation forms part of a larger 270-hectare project outside Hanoi.

Akeso Drug Outperforms AstraZeneca's Imfinzi in Cancer Trial: Chinese biopharmaceutical firm Akeso announced its immunotherapy drug, ivonescimab, surpassed AstraZeneca’s Imfinzi in a Phase 3 trial for biliary tract cancer, showing extended patient survival.

Hin Leong Director Lim Huey Ching Fails to Exclude Evidence: Singapore's High Court has rejected Lim Huey Ching's application to exclude specific legal advice from her obstruction of justice trial. This evidence relates to her actions following Hin Leong's financial irregularities.

Wealth

India Hybrid Funds: Multi-Asset Allocation Leads 3-Year SIP Returns, Balanced Advantage Lags: India's multi-asset allocation funds delivered the strongest three-year Systematic Investment Plan (SIP) returns among hybrid categories. This performance, based on recent Value Research data, contrasts sharply with balanced advantage funds, which showed the lowest returns.