The Brief: Asia's economy, 15 September 2026

Economies

South Korea Finance Nominee Rules Out Corporate Tax Cut: Lee Hyoung-il, South Korea's finance minister nominee, confirmed Sunday he will not pursue corporate tax cuts, citing this year's rate restoration from 24% to 25%.

Markets

Reserve Bank of India Conducted ₹7 Lakh Crore Reverse Repo Auction: The Reserve Bank of India (RBI) conducted a 30-day variable rate reverse repo (VRRR) auction on September 7, 2026. This operation absorbed ₹7,00,000 crore from the banking system, managing systemic liquidity.

Mapletree Logistics Trust Sells Australian Asset, SIA Funds India Ventures: Singapore-listed Mapletree Logistics Trust will divest a vacant Australian property for A$28 million, while Singapore Airlines confirmed it will finance its Indian ventures, including Air India, from internal funds.

Banking & Fintech

KB Financial Group names Lee Jae-keun chairman nominee: Korea's largest financial group, KB Financial Group, has nominated Lee Jae-keun, 60, as its next chairman, an unexpected move over the incumbent that signals a focus on new growth strategies.

Cake Digital Bank wins Euromoney's Vietnam Best Digital Bank 2026 award: The Vietnamese lender, operating for nearly six years, reported profitability in mid-2024 and serves over 7.6 million customers through its digital platform.

Industries

Philippine Lawmakers: DICT Must Collect P3.9B Telco Dues: The Congressional Policy and Budget Research Department estimates outstanding charges and penalties could significantly enhance the Department of Information and Communications Technology's budget for digital infrastructure.

Singapore Home Demand Faces Q4 Test Amid Rising Price Sensitivity: Singapore's residential property market now operates under normalised conditions following a strong 2025 rebound. Forthcoming fourth-quarter launches will measure actual homebuyer demand, as buyers demonstrate increased selectivity and price sensitivity. This year, new home sales have already fallen by 11.6 per cent.

US Fed Tightening Threatens Hong Kong Property Capital Inflows: Fed Chairman Kevin Warsh's recent inflation focus raises US interest rate hike expectations, directly impacting Hong Kong's property market and its appeal to mainland Chinese capital.

Zankore secures US$3.1bn loan for Indonesia AI infrastructure: The newly formed firm will develop GPU cloud capabilities across Indonesia with Nvidia, funded by a consortium of five banks.

Huawei's Tau Scaling Law Solves Kirin Chip Overheating Challenge: Huawei's latest research demonstrates its Tau Scaling Law architecture prevents overheating in vertically stacked semiconductors. This addresses a critical hurdle for its forthcoming Kirin 2026 smartphone chip, allowing greater transistor density and lower power use.

Samsung Union Intensifies Pay Row, Protests Executive Home: Samsung Electronics' Donghaeng union plans further protests, including near an executive's residence and a Times Square advertisement. It demands better compensation for its Device eXperience (DX) division members.

Visa Doubles Philippines Office Footprint with SM Offices Deal: The digital payments firm relocates its operations to a 9,000 square metre facility at the SM Mall of Asia Complex, establishing its Visa Philippines Solution Center.

Wealth

HSBC Midcap Fund Leads Indian Peers in Three-Year SIP Returns; Large Funds Lag: Only four Indian mid-cap funds delivered over 17% annualised three-year Systemic Investment Plan (SIP) returns, Value Research data shows. HSBC Midcap Fund topped the list at 20.70%, while several larger funds by assets under management (AUM) showed lower performance.

India's largest flexi-cap funds trail smaller rivals in one-year returns: Three dominant flexi-cap schemes, holding over half of India's sector assets, delivered modest or negative returns over the past year, AMFI data shows.