Financial Market Review

• Keppel DC Reit and Keppel announced on September 1 that they have agreed to collectively acquire 90% stakes in two freehold data centres in Tokyo, known as Tokyo Data Centre 4 and Tokyo Data Centre 5. • The acquisition is valued at approximately 171 billion yen (US$1.1 billion) and is expected to be accretive to the REIT's distribution per unit.

• On September 2, the Indian stock market declined, with the Sensex ending 373 points lower at 76,570 and the Nifty falling below the 24,000 mark, led by drops in HDFC Bank and Asian Paints. • In a separate corporate move, HSBC has submitted a non-binding bid to acquire a controlling 54% stake in Nuvama Wealth and Investment from private equity firm PAG.

• Thailand’s SET Index closed at 1,575.07 points on September 2, 2026, marking a decrease of 13.61 points or 0.86%. • The market saw a total trading value of THB 64.33 billion, driven primarily by selling pressure on big-cap stocks across multiple sectors.

• Binance Margin will remove 12 trading pairs, including TNSR/USDC, SXT/USDC, TURTLE/USDC, AIXBT/USDC, and BREV/USDC, effective September 3. • In a recent interview, Binance founder Zhao Changpeng praised Hong Kong as a progressive "sandbox" for China's digital currency experiments and the Web3 industry.

• Thailand's tourism recovery is gaining significant momentum, with hotel occupancy rates now exceeding 70%. • The surge in visitors is primarily driven by increased arrivals from key international markets, including China, Russia, India, Malaysia, and South Korea.

• Indian equity benchmarks, the Sensex and Nifty, turned red during afternoon trade, erasing previous recovery gains. • The Nifty index dropped below the 24,050 level, driven primarily by declines in the banking, financial, and auto sectors.

• Europe's benchmark Stoxx 600 index traded below the flatline around 8:10 a.m. in London, reversing its initial opening gains. • MongoDB reported strong second-quarter results, earning $1.90 per share on $772 million in revenue, significantly beating LSEG analyst forecasts of $1.61 per share and $734 million.

• European government bond yields have surged to their highest levels in over 15 years due to a deepening global bond sell-off. • Benchmark borrowing costs hit record highs on Tuesday for major economies, including Germany, France, Italy, and the Netherlands.

• Euro area HICP inflation rose to 3.3% year-over-year, up from a previous 2.9%, primarily driven by an increase in energy prices. • Core inflation slightly declined to 2.4%, while the July unemployment rate remained steady at 6.4%, though this was slightly higher than the 6.3% forecast.

• US technology firms are increasingly issuing debt in the euro bond market, potentially crowding out other corporate borrowers. • This shift in market dynamics may lead to higher borrowing costs for non-tech companies and increase overall credit risk within the region.

• The Euro (EUR) dropped to two-week lows against the US Dollar (USD) on Wednesday, marking its second consecutive day of decline. • The downturn is driven by increased risk aversion due to escalating tensions in the Middle East and growing market expectations that the Federal Reserve will implement further interest rate hikes.