Welcome to Your Week in Asia.
Japanese voters go to the polls on Sunday with the ruling Liberal Democratic Party at risk of losing its majority in the wake of a political fundraising scandal. In Russia, President Vladimir Putin hosts a BRICS summit with Chinese ally Xi Jinping set to attend, while leaders of the 56 Commonwealth nations meet in Samoa.
South Korean automaker Hyundai’s Indian unit starts trading in Mumbai after a $3.3 billion IPO, as subway operator Tokyo Metro debuts on the Japanese capital’s stock exchange. Vietnam and the Philippines host motor shows, South Korea reports quarterly GDP figures, and several companies are on tap to report earnings, including Canon and LG Electronics.
Advertisement
Get the best of our coverage of Asia and much more by following us on X, @NikkeiAsia.
MONDAY
Commonwealth meeting
Leaders of Commonwealth countries gather in Samoa’s capital Apia to kick off the biennial Commonwealth Heads of Government Meeting. The weeklong event is expected to draw 3,000 delegates from across the 56 Commonwealth countries, including King Charles, and focus on economic, environmental and security challenges.
Vietnam parliament kicks off
Vietnam’s parliament opens its second session of the year. Members of the one-party state’s rubberstamp assembly are expected to approve a new president after two others quickly resigned in a graft clampdown, as well as a bevy of laws for the new year.
Monet Policy: China
TUESDAY
Russia’s BRICS summit
Russia hosts this year’s expanded BRICS summit in the city of Kazan, as Moscow and “no limits” partner China promote the group as a counterweight to the U.S.-led world order. President Vladimir Putin is expected to seize the opportunity to shape the agenda, focusing on new payment settlement solutions as his government faces heavy Western sanctions over the Ukraine war. The further expansion of the bloc will also be up for discussion, as countries such as Thailand, Myanmar and others seek admission.
Hyundai’s India trading debut
Shares in Hyundai’s Indian unit start trading in the commercial capital Mumbai following the country’s biggest-ever share sale and the world’s second-biggest this year behind warehousing major Lineage Inc.’s $4.44 billion listing on the Nasdaq composite in July.
WEDNESDAY
Tokyo Metro goes public
Subway operator Tokyo Metro debuts on the Tokyo Stock Exchange in Japan’s largest initial public offering since the 2018 listing of SoftBank Corp., a SoftBank Group-affiliated telecom carrier. The public transit company, valued at 697.2 billion yen ($4.6 billion), is 53.4% owned by the central government while Tokyo’s city government holds a 46.6% stake. In the IPO, each will release half its holdings.
Earnings: Nidec
Vietnam car show
The annual Vietnam Motor Show starts its five-day run in Ho Chi Minh City with the theme, “Technology for a Green Future.” The government cut registration fees to juice sales after the domestic car market slowed in the first half of the year, remaining below pre-pandemic levels. On Thursday, Manila plays host to the Philippine International Motor Show, as hybrid and electric vehicles look to gain ground in a consumer market dominated by conventional cars.
THURSDAY
South Korea GDP
Asia’s fourth-largest economy may have rebounded slightly for the July-to-September period from a quarter ago when the economy contracted 0.2%. South Korea’s exports jumped more than 10% in the three months through September from the previous year, driven by strong demand for semiconductors and cars. But government data show that poor domestic demand offset the positive effect.
Earnings: SK Hynix, LG Electronics, Canon
FRIDAY
Kiribati votes
The Pacific island nation of Kiribati heads to the polls to choose a president, with pro-China incumbent Taneti Maamau expected to be reelected to a third and final term after his Tobwaan Kiribati Party (TKP) won the majority of seats in August’s parliament elections.
Bangkok property market
Thailand will see the opening of “One Bangkok,” the country’s biggest mixed-use property project worth about 120 billion baht ($3.6 billion). The development is comprised of retail, office buildings and residential units in the heart of Bangkok.
SUNDAY
Japan election
Japanese voters cast their ballots in a general election with 465 lower house parliament seats up for grabs among a total of 1,344 candidates running. The ruling Liberal Democratic Party is at risk of losing its majority in the wake of a political fundraising scandal.
