The Philippines growth outlook has been revised lower by the International Monetary Fund, which now expects the economy to expand 5.1% in 2025 and 5.6% in 2026, both below the government’s 6%–7% target range. The IMF said the weaker Philippines growth outlook reflects higher US tariffs weighing on exports and investment, alongside global trade-policy uncertainty, corruption allegations linked to flood-control projects and more frequent climate shocks. While disinflation has b

Hong Kong market reforms are needed to keep the city a leading capital-raising hub as markets digitise and competition among financial centres intensifies, the Financial Services Development Council said. In a concept paper, the FSDC urged Hong Kong market reforms to deepen liquidity beyond equities, spanning fixed income, private-market assets and offshore yuan products, alongside infrastructure upgrades to speed settlement and support multi-asset, multi-currency issuance. T

Japan business sentiment climbed to a four-year high in the three months to December, according to the Bank of Japan’s tankan survey, keeping expectations alive that the central bank could raise interest rates at its Dec.18–19 meeting. The headline index for large manufacturers edged up to +15 from +14 in September, while big non-manufacturers held steady at +34. Firms said Japan business sentiment could weaken in the March quarter as concerns persist over US tariffs and slug

USD stablecoins dominance is reshaping global digital finance, prompting calls for Taiwan to issue a New Taiwan dollar stablecoin to safeguard monetary sovereignty and keep exporters competitive, fintech expert Jeff Wen said. He noted that USD stablecoins dominance accounts for about 99% of global issuance and allows tokens to move rapidly across borders. Wen argued that a Taiwan-issued stablecoin would enable tokenised real-world assets to be priced and settled locally as fi

Hong Kong has launched a public consultation on adopting the OECD’s Crypto-Asset Reporting Framework and updating the Common Reporting Standard, setting the stage for Hong Kong crypto tax data sharing with partner jurisdictions from 2028. The government plans to pass amendments to the Inland Revenue Ordinance next year and roll out the revised CRS from 2029, aligning the city with global standards on tax transparency and digital assets. Under the proposal, reporting financial

Hong Kong’s initial public offering (IPO) market is forecast to raise up to HKD350bn (USD45bn) next year as momentum from mainland Chinese issuers and technology listings lifts the city back toward the top tier of global exchanges, KPMG said. The firm expects 180 to 200 listings in 2026, implying as much as a doubling in deal numbers and a 28.7% jump in proceeds from this year, when about 100 newcomers raised HKD272bn. Much of the activity has come from A+H listings, which br

The Asian Development Bank has raised its South Korea growth forecast for 2025 to 0.9% from 0.8%, citing stronger domestic consumption following government stimulus and easing export uncertainty after a tariff agreement with the United States, the finance ministry said. The lender also lifted its 2026 growth outlook by 0.1 percentage point to 1.7%, broadly in line with projections from the OECD and the Bank of Korea. Officials said the upgrade reflected resilient semiconducto

Vietnam is preparing to open its first international financial centre in Ho Chi Minh City on December 12, with authorities saying the city has the infrastructure, talent pipeline and investor interest required to begin operations. The Vietnam international financial centre will initially house its executive and supervisory bodies at the city’s Startup & Innovation Hub before relocating to a renovated office on Nguyen Hue Street and later to a permanent base in the Thu Thiem u

Hong Kong business confidence has risen sharply, with about half of companies operating in the city optimistic about economic prospects next year, up from just 18% a year earlier, according to preliminary findings from the Hong Kong General Chamber of Commerce. Chamber chair Agnes Chan said a record number of local and international firms set up operations in Hong Kong this year, helping support momentum and drive 3.8% GDP growth in the third quarter. Hong Kong also topped th

South Korea’s mergers and acquisitions market has entered one of its busiest periods on record, supported by strong risk appetite and a more than 70% year-to-date surge in the KOSPI, with Citi advising on a series of high-profile transactions. Recent deals include EQT’s roughly USD930m acquisition of a controlling stake in cloud software provider Douzone Bizon, described as Asia’s largest B2B software transaction outside Japan, and the IMM Investment–KB Balhae consortium’s 49

Southeast Asia has emerged as a beneficiary of the US–China trade rift, with exports to the United States growing faster than China’s, according to analysis by the Lowy Institute. Shipments from the 11-member ASEAN bloc to the US rose 23% in September from a year earlier, led by Thailand and Vietnam, while China’s share of the American market declined. The divergence reflects steep US tariffs on Chinese goods, averaging 31%, compared with roughly 11% for many Southeast Asian

The Asian Development Bank has lowered its growth outlook for the Philippines but still expects the country to be Southeast Asia’s second-fastest major economy. The ADB now projects GDP growth of 5% this year and 5.3% in 2026, both below government targets, after a weaker-than-expected 4% expansion in the third quarter and a 10.7% drop in January–September public works spending. The bank cited weak and corruption-hit infrastructure outlays and natural hazards as key drags. Ho

Hong Kong’s ageing population is straining public healthcare while opening new business opportunities for insurers and banks, officials and executives said at the Asian Insurance Forum on Monday. Insurance Authority chairman Stephen Yiu said the Hong Kong ageing population is driving demand for health insurance, annuities and retirement solutions as demographic pressures intensify. The government projects about 2.4m elderly residents by mid-2036, representing roughly one-thir

Japan’s economy shrank faster than first reported in the July–September quarter, revised Cabinet Office data showed, highlighting the impact of weaker business spending despite a modest rise in consumption. Under the Japan Q3 GDP revision, real gross domestic product fell at an annualised 2.3%, compared with an initial estimate of 1.8% and a median forecast of 2.0%, marking the largest contraction since the third quarter of 2023. GDP declined 0.6% quarter on quarter, versus 0

South Korea’s finance ministry is stepping up oversight as Korea won weakness persists near levels last seen during the 2009 financial crisis, setting up a task force with exporters, securities firms and regulators, officials said. Operating under the international finance bureau, the group will monitor exporters’ currency-conversion behaviour and consider incentives for companies that convert foreign-currency earnings back into won. The won has remained below 1,450 per dolla

Nomura Asset Management is expanding its international trainee program as it plans to relocate dozens of staff from its Tokyo headquarters to overseas hubs, including London and New York, to strengthen investment and sales capabilities and deepen its pool of globally trained professionals. The initiative comes as Japan’s regulator has flagged competitiveness gaps among domestic asset managers, even as reforms to tax-free NISA accounts draw more households into investing. Nomu

Family offices are becoming increasingly professionalised and formalising governance as wealthy families prioritise long-term capital preservation, according to the 2025 Global Family Office Compensation Benchmark Report published by Mondaq in cooperation with KPMG Private Enterprise and recruiter Agreus. The study, based on a survey of 585 family-office professionals and 20 interviews with senior executives, found that more offices now operate as standalone entities rather t

China’s securities regulator has urged the country’s roughly 160 mutual fund houses to introduce performance-based pay structures under tightening China mutual fund pay rules, increasing oversight of an industry shaken by recent scandals and Beijing’s “common prosperity” drive to rein in excessive earnings. Draft guidelines issued by the China Securities Regulatory Commission would allow fund performance to account for as much as 80% of managers’ annual pay, the official Secu

Private credit and core-plus infrastructure are expected to offer attractive risk-reward profiles for investors seeking diversification away from equities in 2026, Temasek chief executive Dilhan Pillay said at Abu Dhabi Finance Week. He said private credit provides senior-position exposure within the capital structure, while core-plus infrastructure can deliver stable, long-term cash yields from assets such as data centres and energy-transition projects. The comments build on

The Philippine Securities and Exchange Commission is accelerating capital market reforms to ease long-standing liquidity constraints and close gaps with ASEAN peers in market depth and product diversity, SEC chairman Francisco Ed. Lim said at a business forum. The regulator has tightened service standards, shortened decision timelines and introduced a deemed-approved mechanism for filings that go unanswered beyond prescribed periods, alongside a standard 45-day review window