Welcome to Your Week in Asia.
Indonesia’s Defense Minister Prabowo Subianto becomes leader of the world’s fourth most populous nation this weekend, South Korean automaker Hyundai kicks off a $3.3 billion Indian IPO — Asia’s biggest this year — and China reports quarterly economic growth figures.
Pakistan hosts a Shanghai Cooperation Organisation (SCO) summit just a week after a deadly militant attack fanned security fears for the high-profile event. Central banks in Thailand, Singapore and the Philippines hold policy meetings while Taiwanese chip group TSMC reports its latest earnings.
Advertisement
Get the best of our coverage of Asia and much more by following us on X, @NikkeiAsia.
MONDAY
China economy data
China starts a key week for economic data by releasing its quarterly trade statistics and other figures. All eyes will be on Friday’s scheduled announcement of third-quarter gross domestic product, as authorities strain to reach their stated annual GDP growth target of “around 5%.”
Hyundai launches Asia’s biggest 2024 IPO
South Korea’s Hyundai kicks off a $3.3 billion share sale for its Indian unit as the automaker looks to expand its operations in the world’s third-biggest car market. The initial public offering marks India’s biggest ever and it is also the largest so far this year in Asia. The shares will start trading in Mumbai on Oct. 22.
Chinese premier in Vietnam
Chinese Premier Li Qiang wraps up a three-day trip to Hanoi, more than a week after Vietnam condemned Beijing for the “brutal” injury of some of its fishermen in the disputed South China Sea. His schedule includes meetings with Vietnam’s top leaders, wreath laying near the body of former Vietnamese leader Ho Chi Minh at a mausoleum, an exhibit of farm exports to China and a Vietnam-China business forum.
Singapore GDP, policy meeting
Singapore publishes July-September economic growth figures, while the city state’s central bank is widely expected to hold off easing amid sticky inflation and an uncertain growth outlook. The government’s full-year GDP estimate is for an expansion of between 2% and 3%.
TUESDAY
Pakistan hosts SCO summit
Pakistani authorities are reportedly moving to restrict the movement of Chinese citizens working in the country during the Shanghai Cooperation Organization summit, after two Chinese engineers were killed in a bomb attack Sunday near the airport in southern Karachi. The SCO’s nine full members, including China, India, Iran and Russia, are meeting on Tuesday and Wednesday in Islamabad, with Chinese Premier Li Qiang expected to attend.
Japan general election kicks off
Japanese political parties officially kick off campaigning ahead of the Oct. 27 general election. The vote comes in the wake of a ruling Liberal Democratic Party scandal in which dozens of members failed to properly disclose funds raised through political activities. The party, under the leadership of new Prime Minister Shigeru Ishiba, aims to regain public trust as it competes for 465 seats in the lower house of parliament.
WEDNESDAY
Hong Kong leader’s address
Hong Kong Chief Executive John Lee delivers his third annual policy address. The city’s leader is expected to focus on the economy, after further curbing dissent earlier this year with the imposition of a local national security law known as Article 23.
Monet Policy: Thailand, Philippines
THURSDAY
TSMC reports
Taiwan Semiconductor Manufacturing Co., the world’s largest contract chipmaker, reports its Q3 earnings. The company, whose clients include Apple and Nvidia, has enjoyed a windfall from the artificial intelligence boom. Analysts will be watching the company’s earnings call for its outlook on AI-related demand and updates on its global expansion plans.
Monet Policy: Turkey
FRIDAY
Malaysia budget
Malaysia’s Prime Minister Anwar Ibrahim announces his third annual budget, which will focus on fiscal restraint while addressing inflation, economic reforms and cost-of-living challenges. Key areas to watch include potential changes to the consumption tax and social welfare spending.
SUNDAY
Prabowo sworn in as Indonesia’s new president
Indonesia kicks off a new political era as Defense Minister Prabowo Subianto becomes leader of Southeast Asia’s biggest economy, taking over from President Joko Widodo, who served a maximum two terms. The ex-special forces commander campaigned on a plan to offer free school lunches nationwide and has set an ambitious target of 8% annual economic growth during his first term. Widodo’s eldest son, Gibran Rakabuming Raka, will be sworn in as vice president.
