The Brief: Asia's economy, 8 September 2026

Economies

BoK: South Korea Sept Inflation Eases, Core Pressures Persist: The Bank of Korea forecasts a moderation in headline inflation for September 2023. This change follows a fading statistical base effect. However, underlying price pressures, particularly in core items, persist.

South Korea August Inflation Hits 3.1%, Mobile Bills Distort Figure: South Korea's August consumer price increase reached 3.1%. Stripping out a surge in mobile communication bills, the figure drops to 2.5%.

Markets

Japan Borrowing Costs Reach 30-Year High Amid Fed Hawkishness: Japan's government bond yields climbed to a three-decade peak following firm statements from US Federal Reserve chair Kevin Warsh. This development unsettled Asia Pacific markets, pushing regional bond yields to decade-highs, while Middle East tensions lifted oil prices.

Middle East Tensions Push Oil, Bond Yields; Fed Hike Fears Hit Asia: Geopolitical tensions in the Middle East pushed oil prices higher, sending global bond yields to multi-decade highs. This increased Federal Reserve rate hike expectations, causing Asian markets to fall, particularly technology firms.

Jollibee International Picks HKEX for Listing, Drops US Plan: Jollibee Foods Corp.’s international unit, JFC International, will list on the Hong Kong Stock Exchange. This decision shifts from earlier plans to consider a US listing for the business.

Banking & Fintech

Nextbank, Mount Carmel Rural Bank Launch Mobile Banking: Philippine banking tech firm Nextbank expanded its partnership with Mount Carmel Rural Bank Inc. (MCRBi). MCRBi will adopt Nextbank's Mobile Banking Solution, enhancing digital access for customers in the Calabarzon region.

Mynt CTOO Sy: AI Adoption Needs Trust, Not Just Speed: Mynt's Chief Technology and Operations Officer, Pebbles Sy, stressed that artificial intelligence (AI) integration demands strong governance and accountability. Speaking at the GCash iGnite Innovation Summit 2026, Sy noted that building user trust must accelerate faster than technology itself.

Industries

China blocks Meta's Manus acquisition, Manus resumes operations: AI agent developer Manus has restarted independent operations. Chinese regulators blocked its multibillion-dollar acquisition by Meta Platforms.

Oil Climbs on Hormuz Fears, WTI Nears US$91: Crude benchmarks advanced for a third session, driven by heightened concerns over energy flow interruptions through the Strait of Hormuz. West Texas Intermediate (WTI) gained 5.2% on Tuesday, its largest increase in five weeks.

Keppel DC Reit, Keppel Acquire Tokyo Data Centres for US$1.1 Billion: Keppel DC Reit and Keppel will acquire 90 per cent stakes in two Tokyo data centres for US$1.1 billion. The Reit manager also plans a S$600 million private placement.

Southeast Asia Pursues AI Autonomy Amid US-China Tech Rivalry: Southeast Asian nations are adopting Cold War-era hedging strategies to develop independent AI capabilities. This aims to reduce reliance on US and Chinese technology stacks, despite significant challenges.

Wealth

India Gold Ownership: Documentation Key, Not Quantity: India imposes no statutory cap on individual gold ownership. Widely cited limits apply to income-tax search exemptions, not legal holdings. Proper source documentation remains critical for legitimacy.