The Brief: Asia's economy, 8 October 2026

Markets

HDFC Sec forecasts mixed Q2FY27 for Indian FMCG; prefers Nestlé, Bikaji: HDFC Securities anticipates 12% revenue growth for Indian FMCG firms in Q2FY27 but warns of margin pressure from raw material inflation, maintaining an underweight sector stance.

Seoul stocks fall for second day as bond yield concerns persist: The Korea Composite Stock Price Index dropped 1.98% on Wednesday, with technology shares leading declines, as investors monitored elevated bond yields and awaited key earnings reports.

India IPO market slows amid Pitru Paksha, secondary correction: No new mainboard initial public offerings are scheduled this week in India, following a record ₹94,205 crore raised in the first half of FY27.

RBI to conduct ₹3 lakh crore overnight reverse repo auction: India's central bank will hold a Variable Rate Reverse Repo (VRRR) auction on 7 October 2026 to manage market liquidity, with bids accepted between 12:00 PM and 12:30 PM.

Mynt Opens ₱53 Billion Philippine IPO, GCash Users Get Direct Access: Philippines-based fintech firm Mynt set its initial public offering price at ₱6.60 per share, with shares scheduled for trading on the Philippine Stock Exchange from 20 October.

Banking & Fintech

OCBC, Ant International Launch Tokenised Deposits for Cross-Border Treasury: The new service facilitates Singapore and US dollar liquidity transfers for corporate clients between Singapore and Malaysia, operating outside standard banking hours.

Mox Bank Tops HK Digital Apps, Ranks Fifth in Asia-Pacific: Sia Partners' annual study placed Mox Bank first among Hong Kong rivals and fifth regionally, while Bank of China (Hong Kong) secured seventh place.

Industries

Singapore's Dapur Hassan physical stall closes after six years: The former national goalkeeper Hassan Sunny's business will shift to Grab delivery, citing ongoing manpower difficulties in the city-state's food and beverage sector.

Hong Kong New Retail Entrants: Japan, Korea, Thailand Brands Claim 36% Share: New brands from Japan, South Korea, and Thailand now account for over one-third of Hong Kong's first-store openings in the first nine months of 2026, matching mainland Chinese retailers.

Singapore Mandates New Licences for Major Data Centres: The Digital Infrastructure Bill, passed today, affects two-thirds of the nation's 70 facilities, targeting those with S$100 million revenue or 10MW capacity.

Vietnam’s Vietstock 2026 to Showcase Livestock Innovation, Sustainable Farming: Ho Chi Minh City will host Vietstock 2026 from October 21-23, an industry event endorsed by Vietnam’s Ministry of Agriculture focusing on animal health, digital production, and green transition for the livestock sector.

Cerebras stock gains 9% after OpenAI CEO Sam Altman reassures partnership: The chipmaker's shares recovered following Altman's comments, reversing a 20% drop from the previous week that stemmed from doubts over its client concentration.

ADATA posts record Q3 revenue as memory prices climb: The Taiwanese memory module maker reported consolidated revenue of NT$53.03 billion for the third quarter of 2026, surpassing NT$50 billion amidst tighter supply.

Wealth

India Home Loan Tax Breaks Not Automatic for Under-Construction: Indian homebuyers must verify eligibility for principal and interest deductions, which depend on property completion, payment type, and tax regime under the Income-tax Act, 2025.