Taiwan's financial sector is set for further consolidation after the Financial Supervisory Commission approved two significant transactions involving banking and insurance groups. The approvals cover the merger of Bank SinoPac and King's Town Bank, together with E.Sun Financial Holding's acquisition of Mercuries Life Insurance. Bank SinoPac will become the surviving entity when the merger takes effect on 1 January next year, creating a lender with 189 branches, the second-lar

Hong Kong overseas expansion remains a strategic priority for local companies despite weaker business confidence, according to UOB's Business Outlook Study 2026. The survey found that nearly four in five businesses intend to expand internationally during the next three years as they strengthen resilience and pursue long-term growth opportunities. Business sentiment declined to 63% in 2025 from 73% a year earlier, reflecting a more challenging economic environment. Nevertheles

The South Korea growth outlook has strengthened after major global investment banks raised their average 2026 economic growth forecast to 3%, supported by booming semiconductor exports driven by artificial intelligence demand. The revised projections reflect growing confidence in the country's export-led recovery. Data from the Korea Center for International Finance showed the average forecast from eight investment banks, including JP Morgan and Citi, increased from 2.8% in M

The Hong Kong business outlook remains resilient despite increased economic uncertainty, with companies continuing to prioritise overseas expansion, digital transformation and supply-chain resilience, according to UOB's Business Outlook Study 2026. The survey suggests businesses remain cautiously optimistic about future growth despite softer current sentiment. Among 255 business owners and senior executives surveyed, 63% viewed current business conditions positively, compared

State Street has renewed its long-standing mandate to provide asset servicing for South Korea's National Pension Service (NPS), reinforcing its role as a strategic partner to one of the world's largest institutional investors. The renewed State Street NPS agreement supports the pension fund's expanding international investment programme as overseas allocations continue to increase. The mandate covers a comprehensive range of back- and middle-office services, including custody

Hong Kong family office services are continuing to expand as law firm Oldham, Li & Nie (OLN) launches a dedicated practice to support the growing needs of international families using the city as a base for wealth planning and succession. The new multidisciplinary offering reflects rising demand for integrated legal, tax and governance advice as Hong Kong strengthens its position as a regional wealth management hub. OLN said the practice will advise clients on family office e

The Philippines upper-middle income classification has been restored by the World Bank after the country's gross national income per capita increased to a record USD4,850, reflecting several years of sustained economic expansion. The milestone is expected to enhance the country's international investment profile while strengthening confidence among foreign investors and financial institutions. The Philippines had remained in the lower middle-income category since 1987 and nar

Wiki Finance Expo Hong Kong 2026 will bring together global investors, technology companies and financial institutions when it takes place at Hong Kong's Hopewell Hotel on July 23-24. Organisers describe the event as Asia's largest conference dedicated to financial technology, foreign exchange and cryptocurrency, reinforcing Hong Kong's position as a regional hub for digital finance and innovation. The event is expected to attract more than 12,000 participants from over 120 c

Hong Kong billionaire Dickson Poon is exploring strategic options for luxury department store Harvey Nichols, including a possible sale or fresh investment, potentially ending more than three decades of ownership. The Harvey Nichols sale review comes as the UK luxury retailer continues to face a challenging trading environment. According to the Financial Times, Poon has appointed FTI Consulting to evaluate strategic alternatives and has begun preliminary discussions with seve

Southeast Asia has become the leading international expansion destination for Chinese companies, with finance executives increasingly viewing the region as the primary engine for future growth, according to new research from the Association of Chartered Certified Accountants. The Southeast Asia growth outlook reflects changing global supply chains and rising cross-border investment opportunities. ACCA’s CFO Leadership in Globalisation study found that 57% of Chinese finance l

Singapore accounts for the majority of Southeast Asia’s most heavily funded women co-founded companies, according to a new ranking by Tracxn. The women-led startups Singapore ecosystem represented 15 of the region’s 25 highest-funded businesses, highlighting the city-state’s strength in entrepreneurship and venture capital. Collectively, the companies have raised approximately USD16.5bn in equity funding as of May 15 across sectors including fintech, enterprise software, cons

Mirae Asset Financial Group said its Mirae Asset client assets exceeded USD1tr at the end of May, reflecting strong growth across exchange-traded funds, retirement solutions and global asset-allocation strategies. The achievement marks a significant milestone for one of Asia’s largest financial-services groups. The company reported domestic client assets of approximately USD757.1bn, while overseas assets totalled USD259bn. Mirae Asset Securities accounted for around USD531.3b

Danantara Investment Management, a subsidiary of Indonesia’s sovereign wealth fund Danantara, has raised USD1.5bn through its first US dollar-denominated bond issuance, attracting strong investor demand despite concerns surrounding Indonesia’s markets and economic outlook. The Danantara bond sale comprised USD750m of five-year bonds and USD750m of 10-year bonds. According to Reuters, orders peaked at approximately USD4.6bn, allowing final yields to be reduced by 35 basis poin

Hong Kong’s new cross-border yacht framework could transform luxury vessels into more liquid and practical Greater Bay Area assets for family offices and high-net-worth individuals. The Hong Kong yacht reforms follow a State Council directive issued on May 29 exempting Hong Kong and Macao-registered yachts from customs guarantees at designated mainland ports. Under the new Hong Kong yacht reforms, eligible yachts can enter ports in nine Greater Bay Area cities without cancell

HSBC chief executive Georges Elhedery and other senior executives are personally engaging with clients in Hong Kong as the bank seeks to revive its underperforming investment banking operations, according to Bloomberg. The HSBC investment banking Hong Kong initiative includes direct client outreach, personalised communications and stronger engagement with key corporate relationships across the Greater Bay Area. Elhedery has reportedly marketed projects directly to clients, se

Hong Kong Exchanges and Clearing said 62 companies completed listings in Hong Kong during the first five months of 2026, highlighting renewed momentum in the city’s capital markets. The HKEX new listings data also showed that approximately 500 listing applications are currently under review, indicating a substantial pipeline of prospective issuers. As of May 29, Hong Kong had 2,726 listed companies, including 2,419 on the main board and 307 on GEM. During the same period, 22

Finance professionals in Singapore are increasingly using artificial intelligence tools at work even as many remain concerned about the long-term impact on employment, according to the Association of Chartered Certified Accountants. The Singapore finance AI jobs survey found that 51% of respondents regularly use AI technologies, while 48% worry the technology could affect their careers. Despite those concerns, 81% said they remain confident in their ability to learn and apply

Malaysia’s Securities Commission has tightened rules for digital asset exchanges as regulators seek to speed up product approvals while strengthening investor protection, governance and operational resilience standards. The Malaysia digital asset exchanges reforms took effect on May 20 under revised Guidelines on Recognized Markets. The updated framework introduces stronger safeguards for client assets together with higher standards covering financial stability, ownership str

US-based fintech Fasset has raised USD51m in a Series B funding round to accelerate expansion of its stablecoin-powered banking and financial infrastructure platform across Asia and other emerging markets. The stablecoin banking Asia funding round included investors such as SBI Group, Investcorp, Arz Portföy and several family offices, reflecting growing institutional interest in regulated digital payments infrastructure. Fasset said it plans to expand regulated banking infra

Howden has appointed Alaric Lee as chief executive officer for Hong Kong, succeeding Alfred Sham, who will relocate to Singapore as chief strategy officer for Asia, the global insurance intermediary group said. The Howden Hong Kong CEO appointment remains subject to regulatory approval. Lee currently serves as chief commercial officer for Asia and brings extensive industry experience including more than a decade working in Hong Kong’s insurance sector. Sham led Howden’s Hong