Apart from producing original insights, Acrostics Asia also pulls research and commentaries from the region that can help readers to make sense of the evolving trends.
The latest edition of Research Corner highlights insights across China’s economy, the emerging fault lines in India’s private credit market, the impact of the Iran War on the aviation sector, data centre financing in Asia Pacific, a potential overhaul of Mongolia’s Minerals Law, as well as legal updates in Singapore and Vietnam.
🔸 China’s confidence campaign: Can slogans solve economic woes? by Yang Danxu
Beijing urges the media to “sing loudly” about growth, but empty malls, job struggles and property woes show confidence must rest on real economic fundamentals, not rhetoric, Lianhe Zaobao China News Editor Yang Danxu wrote for ThinkChina.
“In recent years, stories have occasionally circulated among China’s economic analysts circle about people getting into trouble over their comments. Some analysts grumbled in private that they can no longer say a stock has ‘hit limit down’ – they have to say it is ‘waiting to rise’.”
“In the end, public opinion may serve as a lever to bolster confidence, but the fulcrum must rest on the economic fundamentals. By seeking truth from facts, respecting objective economic laws, and fostering a more accommodating environment in which individuals can experiment and unleash creativity, while raising incomes and strengthening the social safety net, confidence will return naturally, without the need for rhetorical fanfare.”
🔸 China Maintains Targeted LRG Fiscal Support, Limited Room for More Stimulus by Fitch Ratings
China’s 2026 fiscal budget signals a continuation of targeted fiscal support at the local and regional government (LRG) level, though with limited scope for additional stimulus as authorities show growing tolerance for slower growth, Fitch Ratings said.
“We expect higher debt growth and weak revenue expansion in 2026 to narrow the rating headroom for LRGs. However, debt growth should ease after 2026 as the debt substitution programme – a multi-year fiscal initiative that refinances local-government financing vehicles’ (LGFV) hidden debt with LRG bonds – largely concludes.”
🔸 Fault Lines Show Up in India’s $25 Billion Private Credit Market by Shilpy Sinha
Fault lines are beginning to show in India’s fast-growing private credit market that has expanded to about USD 25 billion in size, Shilpy Sinha reported for The Economic Times.
Industry executives say a few private credit deals are already showing early signs of stress. Light-touch regulations have meant that unlike banks or non-bank lenders that must periodically disclose their suspect-loans data, lenders in these markets do not need to disclose asset-level performance.
🔸 Iran war threatens to rewrite rules of aviation by Shukor Yusof
The war in Iran has called into question the long-term economic sustainability of the Gulf countries and vulnerabilities of Middle Eastern carriers, Endau Analytics’ Shukor Yusof wrote for CNA.
“There may be some winners in the near term. Cathay Pacific, for one, stands to gain most from the Gulf fallout. Today, Cathay is a stronger airline than in 2019 when it suffered from protests that hurt Hong Kong’s economy and later, the pandemic. The airline has recovered and is pursuing a sound geopolitical strategy that closely aligns itself with China.”
“Operationally, Cathay’s jets can skirt current warzones, along the relatively safe corridors of Central Asia or simply fly through the vast Russian airspace. As a Chinese airline, it is not subjected to sanctions, unlike Western carriers that have been banned from or are avoiding the Russian airspace since 2022.”
🔸 Network effects: How data centre financing is reshaping loan markets in Asia Pacific by APLMA
The Asia Pacific Loan Market Association (APLMA) has produced its first thematic whitepaper, examining the current state of the data centre financing market, unique challenges and features of the financing market in Asia Pacific, along with the key trends and opportunities for loan market participants. The paper was sponsored by Fitch Ratings and Latham & Watkins LLP.
🔸 Mongolia’s 2026 Spring Session: Key Developments Investors Must Watch by Capital Markets Mongolia
Mongolia’s Parliament has officially kicked off a landmark session, putting 32 major legislative items – including an overhaul of the Minerals Law – on the table, Capital Markets Mongolia (CMM) wrote.
According to the Minister of Industry and Mineral Resources, about 50% of the Minerals Law will be amended, marking potentially the most substantial reform in over a decade.
🔸 Singapore Court of Appeal Clarifies Test for Removal of Judicial Managers by Sheila Ng
In Singapore, judicial managers (JMs) appointed over a company are empowered to conduct a range of acts relating to the company’s business. However, JMs face removal if they fail to adhere to the legislative framework on judicial management.
In Tay Lak Khoon v Tan Wei Cheong [2025] SGCA 41, the Singapore Court of Appeal set out the applicable test for when a JM may be removed for cause, according to Sheila Ng, Head of Restructuring & Insolvency at Rajah & Tann Singapore LLP. In particular, the Court of Appeal considered whether a JM may be removed for a decision based on legal advice.
🔸 Vietnam’s New Legal Framework Prioritising Corporate Rehabilitation by Indochine Counsel
Vietnam is shifting its approach to corporate distress, from liquidation to rehabilitation, according to Indochine Counsel. The newly adopted Law on Rehabilitation and Bankruptcy 2025, effective 1 March 2026, introduces a legal framework that places corporate recovery at the centre of insolvency proceedings, marking a significant evolution from the previous bankruptcy regime.