China local governments are rushing to issue bonds to refinance hidden debt, further tightening liquidity in the financial system, Bloomberg News reported. Regional authorities are set to sell 1.7 trillion yuan (S$313 billion) of bonds in the first two months of 2025, an unprecedented amount for the period, data compiled by Bloomberg show. About half of the issuance, or 850 billion yuan, is to replace off-balance sheet debt, according to the data. The unusually big offering has exacerbated a cash squeeze this year, as banks rush to absorb the securities.

A sweeping overhaul of how Indonesia runs its powerful state companies will create a multibillion-dollar investment vehicle run by close allies of President Prabowo Subianto, giving the new leader a major cache of funds to deploy in his effort to supercharge growth in Southeast Asia’s largest economy, Bloomberg News reported.

Tens of thousands of people could be living inside illegal scam compounds in Myanmar that have proliferated near Thailand’s border, according to the head of Thailand’s anti-trafficking agency, who warned it could take months before all foreign nationals are repatriated, The Guardian reported. Thailand has launched a major crackdown on scam compounds over recent weeks, cutting off cross-border electricity and fuel supplies.

China’s distressed developers are increasingly asking local courts to drive their restructuring efforts, as weak home sales continue to weaken their ability to make headway or deliver on private debt workout plans, Bloomberg News reported. Chongqing Casin Property Development Group late last month became the newest among its peers to apply for the court to overhaul its debt. The move followed a Bloomberg News’ report that defaulter China Fortune Land Development is considering scrapping a creditor-approved debt plan for a court-led solution.

Japan's core consumer inflation hit 3.2% in January for its fastest pace in 19 months, data showed on Friday, reinforcing expectations that the central bank will keep raising interest rates from levels still seen as low, Reuters reported. Bond yields rose on the data, as markets factor in the chance that the Bank of Japan (BOJ) could hike interest rates more aggressively than initially thought as inflationary pressure mounts.

Chinese companies, mainly those in the tech sector, are accelerating plans to raise funds offshore, tapping into a rebound in investor sentiment fueled by hopes of Beijing's support for private firms and the popularity of DeepSeek, bankers said, Reuters reported. In a sign of the pickup in offshore equity sale momentum, two tech companies raised $500 million in total this week alone, and bankers and lawyers said a growing list of firms is preparing to launch offshore equity sales in the coming months.

Singapore announced on Friday a set of measures to rejuvenate its equities market, including a 20% tax rebate for primary listings and a S$5 billion ($3.74 billion) program that focuses on investing in domestic stocks, Reuters reported. The statement offers more details on measures Singapore's equities market review group announced on February 13 to revive its stock market that has come under pressure from a dearth of mega listings and softer trading liquidity.

Legal warnings posted on the door of a private, for-profit hospital in eastern China tracked its descent into financial failure, the New York Times reported. Huiren Hospital in the city of Suqian was warned for failing to pay employees. Four months later, a judicial summons said it still had not paid back wages. Finally, in September a paper taped across its entrance declared the building closed. The hospital, once known for treating men with infertility or sexually transmitted diseases, had been hollowed out. The furniture and equipment were gone. There was no staff.