Asia Roundup
Chinese Property Stocks Jump on Report ‘Three Red Lines’ to Ease
Chinese property shares rose sharply after a local media report that developers are no longer required by the regulator to submit a key set of metrics designed to rein in their debt buildup.
Three Chinese property companies also tapped the international bond market in the busiest week in almost four years, taking advantage of improving sentiment for the sector, Bloomberg reported.
State-backed Yuexiu Property and China Overseas Grand Oceans Group marketed offshore yuan notes on Friday. These add to a USD 360 million security from Dalian Wanda Commercial Management Group on Thursday, its first such sale in three years.
Adani Pivots to Local Debt With Goal of Raising $10 Billion
Indian conglomerate Adani Group is ramping up financing at home amid global market volatility and a US bribery probe against its founder, Bloomberg reported.
The ports-to-cement behemoth increased funding from the local debt capital markets to the equivalent of USD 2 billion in 2025, a ten-fold rise from about a year earlier, according to Group Chief Financial Officer Jugeshinder Singh. It’s now keen to push that amount to as much as $10 billion over the next three years, he said.
Sri Lanka’s Quest for a Credit Upgrade
Sri Lanka’s sovereign credit ratings have improved since the depths of the 2022 crisis, yet they remain deeply speculative and tethered to unresolved fiscal vulnerabilities, The Morning Money wrote.
The nation’s emergence from default, its extensive dialogues with rating agencies, and its compliance with IMF program conditions have earned technical advances. But the sovereign’s credit profile has moved only incrementally, not transformed.
Indonesia Roundup
Indonesia’s Stock Exchange Head Quits After Market Turmoil
The head of Indonesia’s stock exchange has resigned and the government has unveiled measures to improve liquidity after two days of market turmoil sparked by warnings of a possible downgrade from index compiler MSCI, Financial Times reported.
Iman Rachman, President Director of the Indonesia Stock Exchange, will step down “as a form of accountability over the condition of the Indonesian capital market in the past few days”, the exchange said on Friday.
Danantara to Consolidate 15 State-Owned Insurers into Three This Year
Indonesian sovereign fund Danantara aims to consolidate 15 state-owned insurers into three companies this year, Antara reported.
The three insurers will focus on life, general and credit insurance, according to Danantara’s Chief Operating Officer Dony Oskaria.
Danantara Aims to Turn Around Garuda Indonesia in 2026
Indonesian flag airline Garuda Indonesia should turn around this year following a IDR 23.63 trillion (USD 1.4 billion) capital infusion from Danantara, Suara reported, citing the sovereign fund’s COO Dony Oskaria.
Garuda’s integration with Pelita Air, the aviation unit of state-owned energy giant Pertamina, is also seen as a strategic step to “reduce redundancy and increase synergy”, especially in fuel procurement.