Asia Roundup
S&P Predicts China’s Property Slump Will Be Worse Than Expected This Year
S&P Global Ratings has lowered its forecast for China property sales this year, barely two months into 2026, CNBC reported.
Primary real estate sales will likely drop by 10% to 14% this year, worse than the 5% to 8% decline predicted back in October.
“This is a downturn so entrenched that only the government has capacity to absorb the excess inventory,” the S&P analysts said in a note. They added that the state could buy more unsold property to create affordable housing, but that so far these efforts have been piecemeal.
Adani Energy Secures $750 Million Loan Led by Japanese Banks
Adani Energy Solutions, controlled by Indian billionaire Gautam Adani, secured a USD 750 million loan led by two Japanese banks, Bloomberg reported.
The dollar-denominated facility has a five-year tenor and priced about 200 basis points over the benchmark Secured Overnight Financing Rate. Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corp led the financing, according to a press release.
Keppel’s Private Credit Strategy Secures $125 Million from AIIB
Global asset manager Keppel has secured USD 125 million investment from the Asian Infrastructure Investment Bank (AIIB) for its private credit strategy, Bloomberg reported, citing its statement.
AIIB committed USD 75 million to Keppel Private Credit Fund III, along with up to USD 50 million for co-investment opportunities. The new backing lifts the vehicle’s funds under management to USD 561 million and marks the multilateral bank’s first investment under a partnership agreement signed in June 2025.
Indonesia Roundup
FTSE Russell Joins MSCI to Halt Index Review of Indonesia Stocks
FTSE Russell became the latest index provider to raise concerns over the investability of Indonesia, following warnings from MSCI that dealt a heavy blow to the market last month, Bloomberg reported.
The index compiler said it would postpone its March index review due to the risk of adverse turnover and uncertainty in determining public float, according to a statement.
Citing regulators’ pledges to improve integrity and transparency of the nation’s capital markets, FTSE added it would monitor developments and provide an update in its June review.
Indonesia Seeks to Calm Investor Nerves After Moody’s Warning
Indonesia seeks to reassure investors by pushing regulatory reforms and accelerating downstream industrial projects after Moody’s revised the country’s sovereign outlook to negative, Jakarta Globe reported, citing an Investment Ministry official.
“External ratings are important as an alert, but they do not change our economic fundamentals,” Tirta Mursitama, Senior Advisor for Investment Equity and Partnership at the Investment Ministry, said. He stressed that institutional stability and reform momentum remain intact.
Indonesian Government Has to Restore Market Confidence, Local Rating Agency PEFINDO Says
The Indonesian government has to restore market confidence following the move by Moody’s to cut its outlook, according to local rating agency Pemeringkat Efek Indonesia (PEFINDO).
Government officials should step up transparency, coordination and policy communication, especially related to the mandate and management of Indonesian sovereign fund Danantara, the head of PEFINDO’s economic research division, Suhindarto, told Bisnis.
Danantara is one of the concerns for investors because of uncertainty over its investment priorities and risk management, according to Suhindarto.
LMIRT Taps SGD 34.2 Million of Rights Issue Proceeds to Repay Debt
Lippo Malls Indonesia Retail Trust (LMIRT) has tapped SGD 34.2 million (USD 27 million) from its rights issue proceeds to repay existing loans and related financial obligations, according to its manager.
The rights issue raised gross proceeds of around SGD 63.04 million, LMIRT Management said in a statement.