JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
Major South Korean banks are rushing to establish their presence in Singapore, which is replacing Hong Kong as Asia's financial hub.
Hana Financial Group Inc. and KB Kookmin Bank recently obtained preliminary approval to establish an asset management company and operate banking business in Singapore.
The two South Korean banking giants are expected to receive final approval in the third quarter and begin operations by year's end.
Singapore hosts nearly 40 percent of Southeast Asia's fintech companies.
KB Kookmin Bank received a preliminary permit for a wholesale banking license, which allows it to engage in include corporate banking, investment banking, and brokerage services but not for retail banking.
KB Kookmin Bank plans to eventually establish its Asian loan review center in Singapore to cover the Southeast Asian market.
Meanwhile, Hana Financial Group's envisioned asset management firm in Singapore will be its first such company overseas.
The group hopes to use its entry into Singapore's asset management market to secure a key Asian market that would act as a springboard to its global expansion.
Hana Financial is said to be eyeing to take over a Singaporean asset management company once it acquires the final permit to offer its services in the country.
