The Brief: Asia's economy, 24 September 2026
What moved across Asia overnight: 14 stories on economies, markets, banking and industry, read in five minutes.
Economies
Delhi ITAT reverses ₹34.8 lakh 'unexplained cash' tax decision: India's Income Tax Appellate Tribunal ruled that a cash balance was not unexplained when linked to commission income already declared, overturning a prior assessment for a Delhi taxpayer.
ADB lifts South Korea's 2026 growth forecast to 3.2%: The Manila-based development bank cited strong exports and corporate earnings, largely driven by the artificial intelligence boom, for its upward revision.
Markets
Wong Koon Lup, Kenneth Low face S$76m misappropriation charges: Singaporean authorities have charged Wong Koon Lup and Kenneth Low, former executives of CW Group and Allied Technologies respectively, with conspiring in the misappropriation of tens of millions of dollars from their companies.
RBI Drains ₹2.28 Trillion from India's Money Markets: The Reserve Bank of India withdrew a substantial ₹228,546 crore from the financial system on 21 September 2026, pushing overnight money market rates to an average of 5.12 per cent.
RBI Absorbs ₹71,971 Crore in Overnight Reverse Repo: The Reserve Bank of India accepted all bids for its one-day variable rate reverse repo operation on 22 September 2026, aiming to withdraw ₹75,000 crore from the banking system.
Banking & Fintech
Futu Securities Leads Hong Kong Digital Firms' Branch Push: Online brokerages and digital banks are opening physical branches in Hong Kong, with Futu Securities International establishing a 42,000 square foot global headquarters in Pacific Place.
Hong Leong Bank unveils ceramic invitation-only Visa card: The HLB opus is Southeast Asia's first ceramic credit card, leveraging zirconia for its exclusive design and targeting ultra-high-net-worth individuals.
Industries
Rio Explores Gujarat Emissions Trading Model for Industrial Pollution: Brazil's Rio de Janeiro is evaluating India's Gujarat emissions trading scheme, following a June 2026 partnership announcement, to curb industrial particulate matter.
InvestHK leads green tech mission to UK, boosting HK investment hub: Hong Kong's foreign investment agency, InvestHK, recently took 25 green technology firms from the city and mainland China to the UK, aiming to boost sustainable finance and innovation flows.
Arvind SmartSpaces Shares Jump 12% on Bengaluru Project Bookings: The Indian developer secured ₹500 crore in bookings for its Arvind Sylva premium residential project in Bengaluru within 30 days of launch, driving investor interest.
New World Development secures Shanghai nod for K11 C-REIT: Hong Kong's New World Development plans to raise Rmb3.82 billion by listing two Shanghai K11 properties as a C-REIT to improve its financial liquidity and reduce debt.
Hermes Testing lists OTC, targets AI chip demand: Semiconductor wafer testing provider Hermes Testing Solutions began trading on the over-the-counter market on September 22, aiming to capitalise on rising demand for AI and high-performance computing chips.
Southeast Asia boosts energy efficiency with AI, eyes US$67bn savings: Singaporean firms Quantified Energy and Gurin Energy lead regional deployment of artificial intelligence to optimise renewable energy projects and grid operations, targeting significant cost reductions by 2035.
PIL Names Temasek's Wan Chee Foong CEO, Lars Kastrup to Advise Board: Wan Chee Foong will become deputy CEO on October 5, 2026, before taking the top role in April 2027, succeeding Lars Kastrup at the Singapore shipping firm.
Each item above was reported and checked separately; this brief collects the overnight session in one place. Follow any headline through for the figures and the source they came from. The Week Ahead maps the week's data and central-bank dates every Sunday.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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