Welcome to our Week in Asia.
Japanese voters go to the polls on Sunday with the ruling Liberal Democratic Party at risk of losing their majority after a political fundraising scandal. In Russia, President Vladimir Putin is hosting a BRICS summit with Chinese ally Xi Jinping, while leaders of the 56 Commonwealth of Nations are meeting in Samoa.
The Indian unit of South Korean carmaker Hyundai begins trading in Mumbai following a $3.3 billion IPO, while subway operator Tokyo Metro makes its debut on the Japanese capital's stock exchange. Vietnam and the Philippines host auto shows, South Korea reports its quarterly GDP figures, and several companies use it to report earnings, including Canon and LG Electronics.
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Monday
Union meeting
Commonwealth leaders are gathering in Samoa's capital, Apia, to kick off the biennial Commonwealth Heads of Government Meeting. The week-long event is expected to be attended by 3,000 delegates from 56 Commonwealth countries, including King Charles, and will focus on economic, environmental and security issues.
Vietnam's parliament begins work
The Vietnamese parliament opens its second session of the year. Members of the one-party state's rubber-stamp assembly are expected to approve a new president, two more to resign early in a corruption crackdown, as well as more legislation for the new year.
Monetary Policy: China
Tuesday
Russia's BRICS summit
Russia is hosting this year's expanded BRICS summit in Kazan, as Moscow and “no-holds-barred” partner China promote the group as a counterforce to the US-led world order. President Vladimir Putin is expected to seize the opportunity to shape the agenda by focusing on new payment solutions as his government faces heavy Western sanctions over the Ukraine war. Further expansion of the bloc will also be under discussion as countries such as Thailand, Myanmar and others seek admission.
Hyundai makes its commercial debut in India
Shares in Hyundai's Indian unit begin trading in the commercial capital of Mumbai, following the country's largest share sale and the world's second largest after Lineage Inc.'s $4.44 billion listing on the Nasdaq in July.
WEDNESDAY
Tokyo subway is open
Subway operator Tokyo Metro is making its debut on the Tokyo Stock Exchange in Japan's largest initial public offering since the 2018 listing of SoftBank Corp., the telecom operator affiliated with SoftBank Group. The public transit company, which is valued at 697.2 billion yen ($4.6 billion), is 53.4% owned by the central government and 46.6% by the Tokyo city government. In the IPO, each will issue half of its shares.
Earnings: Nidec
Vietnam car show
The annual Vietnam Auto Expo kicks off five days in Ho Chi Minh City with the theme “Technology for a Green Future”. The government cut registration fees for juice sales after the domestic car market slowed to below pre-pandemic levels in the first half of the year. On Thursday, Manila hosts the Philippine International Auto Show as hybrid and electric vehicles try to gain ground in a consumer market dominated by conventional cars.
THURSDAY evening
South Korean GDP
Asia's fourth-largest economy may have picked up slightly for the July-September period compared to a quarter ago, when the economy shrank 0.2%. South Korea's exports rose more than 10% from a year earlier in the three months to September, driven by strong demand for semiconductors and cars. But government data shows that weak domestic demand is offsetting the positive effect.
Earnings: SK Hynix, LG Electronics, Canon
FRIDAY
Kiribati votes
The Pacific island nation of Kiribati is heading to the polls to elect a president, with pro-China incumbent Taneti Maamau expected to be re-elected for a third and final term after the Tobwaan Kiribati Party (TKP) won a majority of seats in August's parliamentary elections.
Bangkok property market
Thailand will see the opening of One Bangkok, the country's largest mixed-use property project, worth around 120 billion baht ($3.6 billion). The development consists of retail, office buildings and residential areas in central Bangkok.
MARKET
Japanese elections
Japanese voters voted for 465 lower house seats among 1,344 candidates participating in the general election. The ruling Liberal Democratic Party is at risk of losing its majority amid a political fundraising scandal.