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211 stories mentioning Jakarta Composite IndexUpdated 6d ago

Trading amid the US-Iran peace agreement and a week of Asian central bank decisions, inflation, and trade data.

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International

Asia Week Ahead: Inflation Prints; GDP Reports; Producer Price Figures

The week ahead in Asia has a number of key figures scheduled for release.The week starts with inflation numbers from Thailand and Taiwan, along with China's trade figures and Q2 GDP growth for Japan and South Korea.Mid-week, the calendar shows China's inflation and producer price numbers set to be published. Japan's Reuters Tankan index and machine tool orders are expected among other data.The week will close with Japan's producer price index numbers, while India's inflation data is expected to come out on Sept. 12.The 18th BRICS summit will take place in New Delhi, India, from Sept. 12 to 13, with members from a number of countries in attendance.MONDAY, Sept. 7Singapore's retail sales rose 1.5% year-over-year to SG$4.4 billion in July, slower than a 4% increase in the prior month.Elsewhere, Thailand's headline consumer price index rose 2.53% in August from a year earlier, accelerating from a 1.95% increase in July.TUESDAY, Sept. 8China is expected to see a trade surplus of $119.1 billion for August, with exports increasing 27.5% according to Citi forecasts, the Wall Street Journal reported.ING experts project the country's trade surplus at $107 billion, with export and import growth coming in at a respective 24.1% and 32.4%.Japan's revised annualized GDP growth for the second quarter is expected to come in at 1.8%, according to a market consensus forecast reported by ING.South Korea will also release Q2 GDP data, with growth projected at 3.7% year over year, according to ING.Taiwan's annual inflation for the month of August is expected to fall between 2.3% and 2.5% based on economists' expectations, according to the WSJ.WEDNESDAY, Sept. 9China will post inflation and producer price data for August.Inflation is expected to rise 0.9% year over year, according to ING economists. The producer price index is projected to rise slightly to 3.6%, Trading Economics said.Japan's Reuters Tankan manufacturing index will likely fall to +15 points in September from +18 points a month prior, according to Trading Economics. The country will also post machine tool order data for the month.South Korea's unemployment rate for August is expected to fall slightly to 2.7%.Elsewhere, Taiwan expects to see a trade surplus of $21.9 billion for August, with export and import growth coming in at 32.7% and 33.5%, respectively, according to forecasts by ING experts. Economists project exports to climb about 30%, the WSJ said.Malaysia is set to release industrial output figures for July.THURSDAY, Sept. 10A speech by Bank of Japan's policy board member Kazuyuki Masu is anticipated to give investors clues about a potential rate hike in September.Indonesia will post retail sales for July, while consumer confidence numbers are expected from Thailand.FRIDAY, Sept. 11Japan's producer price index (PPI) is expected to rise 7.4% year over year in August, up from 7.2% in July, according to market consensus forecast data by ING.Malaysia will publish retail sales and unemployment numbers.SATURDAY, Sept. 12India will post inflation data, with CPI expected to jump 4.7% year over year in August, an ING forecast showed.

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Asia

Indonesia's Finance, Leasing Companies Face Effect of Higher Borrowing Costs in 2027, Fitch Says

Indonesia's finance and leasing companies will face the rising effect of higher borrowing costs in 2027, Fitch Ratings said in a Wednesday release.The increased costs were due to the central bank's policy rate increases, but previously cheaper funding still anchored companies' profitability in 2026, Fitch said.Wider margins and less-price sensitive borrowers should help some companies weather the cost pressures, the rating agency said.Fitch saw better industry profitability in the first half of 2026 amid cheaper funding costs and improved demand, with sufficient earnings buffers offsetting loan impairment costs.However, industry players are still careful about asset-quality trends, using measures such as focusing on middle- to high-income borrowers, using lower loan-to-value ratios and pushing for shorter tenors to offset the risks, Fitch said.

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Asia

Market Chatter: Indonesian Fintech Firm Akulaku Pursues Hong Kong IPO

Ant Group-backed Indonesian fintech Akulaku has confidentially submitted a Hong Kong IPO application, targeting $300 million to $500 million in proceeds, IFR reported on Tuesday.The Jakarta-based firm, previously valued at $2 billion in 2025, had earlier considered a U.S. listing before pivoting to Hong Kong, the news portal said.Launched in 2016, the company operates in consumer credit, e-commerce, and digital banking, with backers including Ant, IDG Capital, and MUFG.Akulaku did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

Asia Week Ahead - PMI Reports; Inflation Prints; Malaysia's Interest Rate Decision

For the week ahead in Asia, the economic calendar is packed with key releases, including PMI data, inflation figures, and an interest rate decision.PMI reports from a number of countries will provide insight into the region's business activity.Retail sales, industrial production, and inflation numbers will also be in focus, with an interest rate decision also scheduled from Malaysia.MONDAY, Aug. 31South Korea published industrial production and retail sales data on Monday.All industry production index remained steady in July from a month earlier, while retail sales fell 0.8% year over year in the month.Elsewhere, Japan's industrial production rose 4.1% year over year in July, with retail sales also expanding 4% to 13.88 trillion yen.On the PMI front, business production and operational activities in China contracted in August, with the official Composite PMI Output Index coming in at 49.5.Factory activity also contracted, with a manufacturing PMI of 49.8. Business activity in the non-manufacturing sector stalled with a PMI of 49.Elsewhere, Hong Kong logged a 4.5% annual growth in total retail sales value in July to HK$31 billion, according to provisional data, while Thailand's retail sales fell 18.3% year over year in June.India will publish its Q2 GDP growth rate later today, with ING expecting a slight decrease to 7.5% from 7.8% previously. ANZ Research also believes the reading will be above 7%, according to the Wall Street Journal.TUESDAY, Sept. 1Tuesday will see the first major influx of PMI reports for the week.The S&P global manufacturing PMI for Japan (final) and South Korea for August is forecast at a respective 55.1 and 53.2, according to Trading Economics.India and Taiwan will also see S&P manufacturing PMI for the month, while Thailand's PMI numbers are also expected.China's RatingGod manufacturing PMI for August is projected at 51.2, while India's HSBC manufacturing PMI will likely come in at 52.9, Trading Economics said.Elsewhere, Indonesia will report inflation for August on Tuesday, with CPI and core CPI expected to come in at 3.1% and 2.8%, respectively, year over year, according to ING.The country is also projected to continue to see a monthly trade deficit in July, the WSJ reported citing Wong Xian Yong, an economist at RHB.Japan will report consumer confidence data.WEDNESDAY, Sept. 2Investors will closely follow a speech by Bank of Japan's policy board member Hajime Takata, whose proposed rate hike to 1.25% in the bank's July meeting was rejected by a majority vote, the WSJ said.South Korea's August inflation rate is expected to expand to 3.1% year over year, according to Trading Economics.Singapore's Manufacturing PMI print is scheduled for release.THURSDAY, Sept. 3An interest rate decision by Malaysia's central bank will take center stage on Thursday.Bank Negara Malaysia is projected to keep its policy rate steady at 2.75%, the Wall Street Journal reported citing CGS International economist Mas Aida Che Mansor.A wave of PMI data is also set to be released during the day.Japan's final S&P, China's RatingDog, and India's HSBC composite and services PMI numbers are expected to complete the picture for August.Japan's composite and services are projected at 53.4 and 52.3, respectively, according to Trading Economics.China's numbers will likely come in at a respective 51 and 50.8, while India's PMI figures are forecast at 54.6 and 54.5, Trading Economics projections showed.Singapore and Hong Kong's S&P global PMI, and India's global services PMI numbers are also anticipated, according to ING.FRIDAY, Sept. 4The Philippines' August headline inflation figure is projected to ease to 6% from 6.2% in July, the WSJ said citing ANZ Research's Kausani Basak.Singapore will release retail sales data for July.

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International

Asia Week Ahead: Jackson Hole Symposium; Interest Rate Decisions; Industrial Output

For the week ahead in Asia, a number of key releases are scheduled to be published.The highlight of the week will be the Jackson Hole Symposium, beginning Thursday and concluding Saturday.Investors will look for clues in the U.S. Federal Reserve Chair Kevin Warsh's speech regarding potential interest rate changes.Interest rate decisions from several other countries will also be in focus this week.Investors will closely watch industrial output, trade data, and business and consumer sentiment reports for insights into the region's economic momentum.MONDAY, Aug. 24Singapore's core consumer price index (CPI) rose 2% year over year in July, with headline inflation accelerating to 2.2%.Taiwan's seasonally adjusted unemployment rate remained unchanged month over month at 3.33% in July.Thailand will post trade data today.TUESDAY, Aug. 25An interest rate decision by the Bank of Thailand will take center stage, with expectations of the bank holding rates steady at 1%, the Wall Street Journal reported citing ANZ's Kausani Basak.Separately, Taiwan's industrial output for July is forecast to rise 23.3% year over year, compared with a 23% growth previously, according to economists at ING.South Korea's consumer sentiment is anticipated to improve slightly, with the Composite Consumer Sentiment Index rising to 107 for August, according to a Trading Economics forecast.Hong Kong's export and import data for July will land.WEDNESDAY, Aug. 26Singapore's year-over-year industrial production growth will slow to 6.9% in July, Trading Economics said.South Korea will publish business confidence data.THURSDAY, Aug. 27An anticipated speech by Deputy Governor of Bank of Japan, Ryozo Himino, may provide insight on potential policy rate hikes in September or October, according to the WSJ.Elsewhere, analysts are on the fence regarding The Bank of Korea hiking rates or holding them steady, the WSJ reported citing Barclays economist Bum Ki Son. The bank is, however, expected to raise its growth projection.The Philippines will likely increase its policy rate to 5% from 4.75%, according to ING and the WSJ.China's industrial profit from the January to July period is forecast to grow 16%, compared with 18.7% previously, according to Trading Economics.FRIDAY, Aug. 28Japan will release a slew of data on Friday.Tokyo CPI and core CPI for August are expected to come in at 1.9% and 1.7%, respectively, according to market consensus forecast data by ING.Unemployment rate is projected to remain unchanged at 2.5% in July, according to an investing.com forecast.Japan is also scheduled to release consumer confidence data for August.Elsewhere, India's industrial production is forecast to rise 6.2% year over year in July, according to Investing.com. Manufacturing output data will also arrive the same day.Singapore will publish producer price index numbers for July.

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International

Bank Indonesia Keeps Rates Unchanged

Bank Indonesia kept its key interest rates unchanged on Wednesday following the conclusion of its Board of Governors' meeting held Tuesday to Wednesday.The central bank left the seven-day reverse repurchase rate, or BI rate, unchanged at 5.75%, while also maintaining the deposit facility rate at 4.75% and the lending facility (LF) rate at 6.50%.Bank Indonesia said its decision was in line with efforts to strengthen the rupiah exchange rate stability amid the global volatility caused by the ongoing war in the Middle East.The central bank said the decision was also aimed at maintaining inflation within the target range in 2026 and 2027, and supporting sustainable economic growth."Bank Indonesia continues strengthening policies to maintain adequate liquidity in the money market, banking industry and economy, consistent with achieving the inflation target," the statement said.

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International

Asia Week Ahead: Interest Rate Decisions; Inflation Print; GDP Growth

Investors will monitor a number of key data releases this week, including rate decisions, inflation data, and GDP figures.The week starts with a slew of economics reports from China, as well as GDP data from Japan and Thailand.Indonesia's central bank will make a decision about its benchmark rate on Wednesday, with China publishing a decision on loan prime rate figures on Thursday.Investors will also closely watch the U.S. Fed's July meeting minutes scheduled to land on Wednesday for hints on a potential rate hike in September.Friday will see flash PMIs for India and Japan, with South Korea releasing producer inflation data.MONDAY, AUG. 17Japan's economy expanded at an annualized rate of 1.1% in the second quarter. The country's industrial production rose 4.9% year over year in June, compared with a 2.1% decline in May.Thailand also released GDP data, with growth expanding 1.9% year over year in the second quarter, slowing from the 2.8% expansion in the preceding quarter.Separately, Singapore's non-seasonally adjusted merchandise trade surplus shrank to SG$12.6 billion in July from SG$12.9 billion in June. Total merchandise exports and imports jumped by 40.6% and 36.3% year over year, respectively.The country's non-oil domestic exports (NODX) rose 24.2% year over year in July, following a 20.8% expansion in the prior month.Elsewhere, Malaysia's headline consumer price index (CPI) rose 1.8% year over year in July.China released an array of economic data on Monday.China's industrial production grew 4.5% year over year in July, narrower than the 5.3% expansion in June and missing the consensus forecast of 5% growth tracked by Investing.com.Retail sales of consumer goods climbed 0.6% year over year to 3.902 trillion yuan in July, slower than the 1% expansion in the prior month, while the country's surveyed urban unemployment rate rose to 5.2% in July.Finally, new home prices in China's 70 major cities decreased 3.2% year over year in July.India is scheduled to release its unemployment rate later on Monday.WEDNESDAY, AUG. 19Bank Indonesia is anticipated to keep its benchmark rate steady at 5.75%, according to experts at ING.The central bank is expected to keep its focus on maintaining rupiah stability and controlling inflation while supporting growth, the Wall Street Journal said, citing CIMB analysts.Japan's machinery orders are projected to rise 9.5% in June on a month-over-month basis, according to a Trading Economics forecast, and 7.9% based on consensus.THURSDAY, AUG. 20China is expected to keep its one- and five-year loan prime rates unchanged at a respective 3% and 3.5%, according to ING and the WSJ.Taiwan's export order growth is forecast to accelerate to 67.5% year over year in July, ING further said.Elsewhere, Hong Kong is expected to release inflation numbers, while Japan is set to release trade data.Japan's trade deficit for July is expected to widen to 680 billion yen, according to a Trading Economics consensus, with exports and imports anticipated to grow 19.9% and 26.5%, respectively.FRIDAY, AUG. 21In Japan, July inflation data arrives on Friday. Headline and core CPI are projected to rise to a respective 2% and 1.8% according to a market consensus, ING said.Japan's flash S&P composite PMI for August is projected at 52.8 by Trading Economics, while India's flash HSBC composite PMI is expected to come in at 55.5.Separately, South Korea's producer price index will likely slow to 8.5% year-over-year in July from 8.6% the previous month, based on a Trading Economics forecast.

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International

Indonesia's Economy Grows 5.29% in Q2

Indonesia's economy grew 5.29% year-on-year in the second quarter of 2026, according to data released by Statistics Indonesia on Wednesday.The growth beat the 5.1% median forecast in a Reuters poll.On the production side, the electricity and gas supply sector recorded the highest growth in Q2 at 10.81%, the report showed.In terms of expenditure, the government consumption expenditure component recorded the highest growth at 15.97%.On a quarter-on-quarter basis, Indonesia's economy grew 3.73%, with the agriculture, forestry, and fisheries sector posting the highest growth at 12.26%.

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Asia

Asian Emerging Markets Resilient Amid Geopolitical Risks, S&P Says

Asia's emerging markets (EMs) have shown strength despite facing geopolitical volatility, S&P Global Ratings said in a Tuesday release.Growth in these markets should gain support from strong demographics, more active financing, and increased productivity, S&P said.Access to diversified and cost-effective financing markets will be essential for EMs, given that the scale of investments requires funding beyond public balance sheets, S&P's global head of emerging market development Guy Deslondes said.EMs will make up nearly 65% of global growth until 2035, with Vietnam, India, and Indonesia posting the most notable growth rates, the rating agency said.However, EMs also need to take steps to bridge the per capita income gap with advanced economies, including a faster pace of productivity gains and leveraging their demographic advantages, S&P said.

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Asia

Bank Indonesia Governor Steps Down

Bank Indonesia Governor Perry Warjiyo has resigned from the position on July 25, citing personal reasons, according to a Monday statement by the central bank.Destry Damayanti, a senior deputy governor at BI, has been appointed as interim governor.

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Asia

S&P Says Currency Depreciation Has Mixed Impact on Asian Corporates

Asian corporates will face mixed effects from currency depreciation, S&P Global Ratings said Wednesday.Exporters will see gains from weaker currencies while importers are pressured by their inability to pass on greater costs, the rating agency said.India, Indonesia, Japan and South Korea have experienced weaker local currencies, but S&P said most rated companies should be able to manage the risks.However, some issuers show greater vulnerability to depreciation amid mismatches in operational and financing foreign exchange, S&P analyst Simon Wong said.Firms that mostly use domestic revenue and cash flow to anchor notable amounts of US dollar debt are subject to greater refinancing risk under steep depreciations, the analyst said.Still, S&P views companies as stronger compared to past instances of depreciation, given natural or financing hedging of foreign currency debts, manageable volume of maturing US dollar notes, and less dependence on US dollar borrowing.

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International

Bank Indonesia Pauses Hikes, Keeps Interest Rates Unchanged

Bank Indonesia kept its key interest rates unchanged on Wednesday following the conclusion of its Board of Governors' meeting.The central bank left the 7-day reverse repurchase rate, or BI rate, unchanged at 5.75%, while also maintaining the deposit facility rate at 4.75% and the lending facility (LF) rate at 6.50%.According to a Reuters poll, 20 of 33 economists it surveyed had expected another 25-basis-point (bps) hike, while the rest had predicted no change.In a statement, Bank Indonesia said it is expanding its incentive policy and introducing more measures to increase foreign portfolio inflows, strengthen Rupiah exchange rate stability, and accelerate money market and foreign exchange market deepening.It is also working on increasing liquidity and reducing liquidity segmentation in the money market and banking industry.

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Asia

Market Chatter: Indonesia Panel Clears Bill to Establish International Financial Centers

Indonesia's parliamentary committee on Monday endorsed key provisions of a bill to establish international financial centers, clearing the way for a final vote in parliament expected on Tuesday, Reuters reported Monday.The proposed legislation is designed to attract foreign capital and boost Indonesia's position as a regional financial hub. The bill will establish a supervisory body for the financial centers reporting to the president and parliament, along with a dedicated arbitration body and special court to resolve disputes. It also proposes incentives including tax holidays of up to 50 years for eligible investors, exemptions on overseas income and certain value-added taxes, and special inheritance tax arrangements, according to the report.Officials have previously said the framework could mirror incentives offered by financial centres such as Dubai, with Bali identified as a potential location. Indonesia's finance ministry estimates the initiative could draw 300 trillion to 500 trillion rupiah in investment, including foreign bank branches and other financial services firms, the news agency said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Global Sukuk Issuance Recovery Depends on Stability Following US-Iran Ceasefire, Fitch Says

A turnaround on global sukuk issuance will rely upon the maintenance of the US-Iran ceasefire and the resulting stability from it, Fitch Ratings said in a recent release.Rising stability could anchor better funding conditions, with issuers' funding plans and investors' allocation direction to shape the trajectory of the recovery, Fitch said.Global sukuk issuance in 2026 will be weaker compared to 2025, Fitch's global head of Islamic finance, Bashar Al Natoor, said.Sukuk issuance declined by 36% in the first half for the Gulf Cooperation Council, Malaysia, Indonesia, Turkey, and Pakistan to $125 billion, driven by volatilities and increasing yields, Fitch said.The rating agency has not observed any sukuk defaults since 2021, while 80% of its rated sukuk are investment grade.However, the share of issuers with stable outlooks declined to 80% in the first half of 2026, the analyst said.Indonesia should see strong near-term issuance amid ongoing funding needs, while a reduction in government debt could narrow sukuk issuance in Malaysia, Fitch said.Fitch expects a better view on market dynamics after the summer holidays in major sukuk markets.

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IMF Lifts South Korea's 2026 Growth Forecast on Chip Demand, China Outlook Upgraded
US Markets

IMF Lifts South Korea's 2026 Growth Forecast on Chip Demand, China Outlook Upgraded

The International Monetary Fund raised its 2026 growth forecasts for South Korea and China, citing strong external demand for semiconductors and rebalancing in the Chinese economy, even as the fallout from the Middle East war continues to weigh on the region.In its July World Economic Outlook update published late Wednesday, the IMF said South Korea's economy is expected to grow 2.6% in 2026, up 0.7 percentage points from the April forecast, with growth "buoyed by strong external demand for semiconductors, which dominates the negative impact of the war."Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) dominate the local semiconductor sector in South Korea.The 2027 growth estimate for the country was raised 0.4 percentage points to 2.5%. The IMF noted that South Korea's first-quarter growth came in at 7.5%, more than four times the 1.8% pace projected in April.The fund said the first-quarter growth was powered by a semiconductor and AI-hardware export boom, despite the country's "heavy reliance on imported energy from the Middle East."Meanwhile, China's 2026 growth forecast was raised to 4.6%, up 0.2 percentage point from April, with the IMF citing efforts toward domestic rebalancing. However, it noted that higher global oil prices, protracted uncertainty and structural headwinds are expected to weigh on activity in China.Inflation in China is expected "to rise from low levels," the IMF said.The 2027 GDP growth estimate was raised 0.1 percentage point to 4.1%. China's economy expanded 8.1% in the first quarter, beating expectations on front-loaded infrastructure investment and a surge in high-tech manufacturing and exports, even as domestic consumption stayed soft, the IMF said.Elsewhere, India's 2026 growth forecast was cut to 6.4% from the April outlook of 6.5%, even as the IMF said the country remains among the fastest-growing major economies, supported by strong momentum in private consumption and services activity.The 2027 estimate was raised 0.2 percentage points to 6.7%.Japan's 2026 forecast was trimmed 0.1 percentage point to 0.6%, with fiscal support measures partly cushioning the impact of higher energy prices. The 2027 forecast was raised 0.1 percentage point to 0.7% as the energy shock fades.Japan's first-quarter growth came in at 1.8%, beating expectations on net trade, exports and a pickup in private consumption.The IMF expects core inflation in Japan to return to target gradually by the end of 2027.The fund's 2026 growth forecast for the five ASEAN countries -- Indonesia, Malaysia, the Philippines, Singapore and Thailand -- was unchanged at 4.1%, while the 2027 estimate was cut 0.1 percentage point to 4.3%.Within the group, Malaysia's 2026 forecast held steady at 4.7% on data-center activity and the upturn in the global technology cycle, while Thailand's was raised 0.4 percentage point to 1.9% on emergency fiscal measures and technology-related exports and investment.The IMF identified Taiwan, South Korea, Thailand and Malaysia as the top four net exporters of AI-related hardware, noting their average seasonally adjusted annualized suprise growth of 4.4 percentage points, against the 0.3 percentage point drop for the rest of the world.Overall, the IMF said, "Risks to the outlook are more balanced than in April but still tilted to the downside.""The possibility of renewed Middle East conflict looms large and could extend commodity price volatility, further threaten supply chains, raise prices, and weigh on financial conditions."

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International

ADB Cuts Developing APAC Growth Forecast for 2026

The Asian Development Bank trimmed its developing Asia and the Pacific economic growth estimate for 2026, below last year's growth due to the effects of the Middle East conflict.In its Asian ​Development Outlook update published late Wednesday, the ADB expects the region's economy to grow 4.9% in 2026, down 0.2 percentage points from the April estimate.For 2027, the real GDP growth estimate was unchanged at 5.1%.The ADB expects inflation in the developing APAC region to rise to 4.3% in 2026 from 3% in 2025, higher than the 3.6% April projection.

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International

IMF Keeps ASEAN Growth Forecast Unchanged for 2026

The International Monetary Fund kept its ASEAN economic growth estimate for 2026 unchanged.In its World Economic Outlook update published late Wednesday, the IMF expects the region's economy to grow 4.1% in 2026, unchanged from the April estimate.For 2027, the growth estimate moved 0.1 percentage point lower to 4.3% for the group consisting of Indonesia, Malaysia, Philippines, Singapore, and Thailand.

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Asia

Indonesia's Islamic Finance Sector to Continue Growth Until 2027, Fitch Says

Fitch Ratings sees continued growth in Indonesia's Islamic finance industry for the second half of 2026 until next year, according to a recent release.The sector's strategic role for the government and strong operating environment have pushed the market to above $200 billion as of May, Fitch said.The country will continue to be one of the largest global issuers of sukuk, with Islamic banks posting market growth potential amid the Muslim-majority demographic and a large underbanked population, Fitch said.The government has carried out efforts to anchor growth, such as a 150 million rupiah cap on registration fees for sukuk, lower reserve requirements for Islamic banks, and exclusivity in receiving Hajj pilgrimage cost deposits.Sukuk made up 33% of Indonesian debt issuance in the first five months of 2026, with outstanding growth at 13% outpacing bonds at 6.3%, Fitch said.Islamic banking assets exceeded 1 quadrillion rupiah at the end of the first quarter, accounting for 8% of system financing.Fitch expects sector assets to expand by about 10% in 2026 amid consumer financing growth, financial inclusion efforts, and product innovation such as bullion banking.

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Asia

Fitch Says Asia Investors Eye AI, Private Credit, Sovereign Risks

Fitch Ratings said institutional investors across Asia are increasingly focused on risks related to artificial intelligence, private credit and sovereign credit, according to a Tuesday press release.The ratings agency said investors are closely monitoring rising spending on AI infrastructure, execution risks and pricing pressure.It warned that rapid adoption of artificial intelligence could displace workers and erode tax bases, particularly in developed markets.Fitch said investors also remain concerned about intensifying competition and limited transparency in private credit, particularly in the U.S. middle-market lending sector.However, it does not expect the asset class to pose a systemic risk on its own.On sovereigns, Fitch said investors are assessing Indonesia's policy credibility, fiscal transparency and the role of its new sovereign wealth fund, Danantara, while continuing to view Japan and South Korea as relatively resilient despite longer-term fiscal and structural challenges.The agency added that geopolitical tensions in the Gulf continue to pose downside risks, although the direct credit impact has so far been modest.

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Asia

Indonesian Corporates Face Rising Macro, Regulatory Risks, Fitch Says

Heightened macroeconomic and regulatory risks are increasing for Indonesian companies, Fitch Ratings said in a recent release.Consumer sectors face demand risk due to rising nonsubsidized fuel prices, interest rate hikes, and a weaker rupiah, which impact discretionary spending and credit financing, Fitch said.Import-reliant issuers that lack the capacity to transfer costs could see margin constraints given the weaker local currency, the rating agency said.The higher benchmark rate could also raise financing costs and make more leveraged issuers less flexible, Fitch said.Strategic sectors such as natural resources could see pressure from changing regulations, the rating agency said.Issuers with solid pricing power, defensive demand, diversified businesses, and prudent capital structures will fare better under the challenging conditions, Fitch said.

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