Welcome to our Week in Asia.
Malaysian department store chain 99 Speedmart is going public this week after the country's biggest IPO in years, hosting a major security forum in Beijing and a military artificial intelligence summit in Seoul.
China's National People's Congress Standing Committee will discuss the new legislation, nearly 15 years after shares of cosmetics brand L'Occitane, a French company listed in the financial hub, were suspended on the Hong Kong stock exchange.
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Monday
Alibaba is taking commerce to mainland China
Alibaba is expected to be added to the Stock Connect system, which connects Hong Kong to mainland China, after it becomes an initial listing on the Hong Kong stock exchange in August. This will give mainland investors access to shares in one of the country's largest technology companies. If Alibaba is not deemed eligible for entry this month, its next window will be in March 2025.
Chinese consumer prices
China releases inflation data a week earlier, which will weigh heavily on the statistics. Trade data, including retail sales, industrial production and home prices, is due on Tuesday before a number of figures are released on Saturday.
Apple's new iPhone, Huawei event
Apple will unveil its latest iPhone series in Cupertino, California. The new lineup will boast at least one major upgrade: the inclusion of Apple Intelligence, the company's artificial intelligence system. A new Apple Watch and updated AirPods could also be on the cards. Rival smartphone maker Huawei will hold its launch event the next day. China's tech giant has been tight-lipped about what exactly it will be showing off, although the company's comments have fueled speculation that it could show off a tri-folding phone.
Military artificial intelligence summit in Seoul
South Korea is co-hosting the Responsible AI in the Military (REAIM) summit in Seoul, along with the Netherlands, Singapore, Kenya and the UK. Government and military officials from more than 90 countries, as well as business leaders, will discuss the responsible development and use of artificial intelligence in the military sector and how to build international norms around this issue.
Malaysia's 99 Speedmarts are now available to the public
Malaysia's 99-store chain Speedmart will begin trading on the local stock market after a 2.36 billion ringgit ($545 million) initial public offering, the country's largest share sale in seven years. The sale was aimed at fueling the chain's expansion and strengthening its position in the fast-growing retail sector.
Nikkei Forum in Sydney
Nikkei is hosting its first event in Australia in nearly a decade. The Nikkei Forum in Sydney brings together Australian and Japanese business leaders and policymakers to discuss deepening ties between the countries in investment, innovation, energy security and decarbonisation, among other topics.
Tuesday
China begins legislative session
China's National People's Congress Standing Committee is meeting to consider a number of bills, including anti-money laundering laws.
Harris-Trump presidential debate
US Vice President Kamala Harris and former President Donald Trump will face off in the first debate hosted by ABC. The 90-minute event will be held in Philadelphia without an audience, with the candidate's microphone muted while the other speaks.
Global AI summit in Riyadh
Industry experts are gathering in Saudi Arabia to discuss the potential of artificial intelligence and how to “balance theory with reality.”
WEDNESDAY
Semicon India
International semiconductor industry group SEMI is holding Semicon in India from Wednesday to Friday as the South Asian nation targets a slice of the global chip supply chain. India has earmarked $10 billion for chip subsidies, which have already attracted Tata Group and Micron.
THURSDAY evening
A security forum is being held in Beijing
The annual Xiangshan security forum kicks off in Beijing, with observers watching closely for signs of deepening ties between China and America. According to Chinese state media, representatives of more than 90 countries and international organizations are expected to attend the event, while US media reported that the Pentagon is preparing to send Deputy Assistant Secretary of Defense for China, Taiwan and Mongolia Michael Chase.
L'Occitane ceases trading in the Hong Kong market
Cosmetics brand L'Occitane is delisting from the Hong Kong Stock Exchange after its initial listing in 2010. The French company's privatization move is seen as a symbolic loss for the stock market as it is one of the few local, non-Chinese companies. a city that wants to introduce itself as a place open to the world.