The Brief: Asia's economy, 6 October 2026

Markets

Euro hits 17-month low as French debt fears widen; dollar strengthens: The single currency fell to US$1.1161 in Asian trading on Monday, its lowest since May 2025, while the US dollar index neared April 2025 highs.

TCS schedules Q2 FY27 results, dividend: India's largest IT firm will convene its board on October 8, 2026, to consider a second interim dividend, with a record date of October 14, 2026.

Hong Kong Green Finance urges scaled APAC transition funding: The Hong Kong Green Finance Association states that economies in the Asia Pacific must convert climate plans into large-scale financing, as transition bonds currently form a minor segment of the region's sustainable debt market.

Banking & Fintech

HKMA Licenses Kyrgyzstan’s Bakai Bank for Hong Kong Operations: Kyrgyzstan's Bakai Bank will operate as Hong Kong's 17th restricted licence bank, targeting corporate and merchant clients with deposits starting at HK$500,000.

Philippine Banks' Bad Loan Ratio Steady at 3.35% in August: The Bangko Sentral ng Pilipinas reported a stable non-performing loan ratio for August 2026, as the banking sector's overall lending growth outpaced new problem accounts.

Visa Sees Stablecoin Card Payments Grow Nearly 200%: Visa reported a significant increase in stablecoin-linked card payments, with business and commercial programmes making up 17% of volumes this fiscal year.

Citi Appoints New Japan M&A, Sponsor Coverage Heads: The US banking giant's investment banking division has named Hajime Higuchi to lead mergers and acquisitions, and Yoshinobu Agu for sponsor coverage in the Japanese market.

Industries

Singapore commits S$118m to bio-based chemicals research: The public funding, part of the S$37 billion Research, Innovation, Enterprise (RIE) 2030 plan, aims to transform the nation's energy and chemicals sector, which accounts for one-fifth of its manufacturing output.

Singapore Digital Economy Hits S$144.1 Billion, Tech Workforce Grows: Singapore's digital economy expanded to 19.3% of GDP in 2025, with tech employment rising 3.8% to 222,200, an IMDA report shows.

Adrian Cheng's K11 Xiamen project draws 2 million visits, sales up 32%: Hong Kong developer Adrian Cheng's K11 Select complex in Xiamen, opened on September 22, reported over 2 million visitors and a 32 per cent week-on-week sales increase.

ICTSI faces Durban port delays; anchorage times double: Philippine port operator ICTSI reports doubled vessel waiting times at South Africa's Durban Gateway Terminal, affecting its 25-year concession.

Prasarana, SMRT Delay JB-Singapore Rail Link to Feb 2027: The cross-border rail system, a joint venture between Malaysia's Prasarana Malaysia and Singapore's SMRT Corp, now targets a February 2027 launch due to safety certification and regulatory approval needs.

Far East Organization Unveils Novena Condo, Sales Start Oct 16: Far East Organization launches The Serra Residences, a 133-unit freehold condominium in Singapore's Novena, with sales bookings starting 16 October 2026.

Frasers Property, Mitsubishi Estate Plan Singapore River Luxury Project: The joint venture, 51% controlled by Thai billionaire Charoen Sirivadhanabhakdi's Frasers Property, will feature 407 high-end residential units and 184 serviced residences.

Wealth

Financial planners: SWP safer than IDCW for retiree tax, payouts: Financial planners suggest Systematic Withdrawal Plans (SWP) offer greater control and tax efficiency for post-work cash flow than traditional Income Distribution cum Capital Withdrawal (IDCW) payouts from mutual funds.