Welcome to Your Week in Asia.
Regional leaders will meet for a series of summits in Cambodia later this week, including Chinese Premier Li Keqiang, who will be on his first overseas visit in three years due to COVID-19. U.S. President Joe Biden will also join the meetings as part of his trip to North Africa and Asia following the U.S. midterm elections on Tuesday.
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MONDAY
China October trade statistics
The release of China’s external trade data for October will kick off the major events of the week. Both the country’s import and export growth have weakened in recent months on the back of softening domestic demand and the growing risk of a global recession.
Indonesia releases Q3 GDP
TUESDAY
U.S. midterm elections
American voters head to the polls for midterm elections, which will determine the course of the next two years of President Joe Biden’s term. The Republican Party is all but assured to take back the House of Representatives, and could leverage voter frustration over the economy to take control of the Senate as well.
Airshow China in Zhuhai (Nov. 8-13)
The 14th installment of Airshow China takes place in the southern city of Zhuhai, Guangdong province, drawing both domestic and foreign manufacturers, including Airbus and General Electric. Among the weaponry expected to be shown off are China’s indigenous heavy military transport aircraft, the Y-20, and anti-drone systems.
Chinese jet maker COMAC is also expected to attract attention after receiving local certification for its narrow-body aircraft, the C919, recently. COMAC is slated to make its first delivery to China Eastern Airlines next month.
Nikkei Global Management Forum
Nikkei hosts the annual Nikkei Global Management Forum in Tokyo on Tuesday and Wednesday. The meeting will bring together business leaders from around the world to discuss their strategies in the face of mounting global challenges such as inflation and climate change.
Among this year’s speakers are Sony Group Chairman, President and CEO Kenichiro Yoshida, Lippo Karawaci CEO John Riady and DeepL CEO Jaroslaw Kutylowski. Grab co-founder Tan Hooi Ling will address attendees via video link.
Nintendo earnings
WEDNESDAY
China inflation data
China releases its consumer price index for October. The previous month, the index hit a two-year high of 2.8%.
Earnings releases
Nissan , Honda, Tata Motors
THURSDAY
Singtel earnings
FRIDAY
ASEAN summit
Leaders of the Association of Southeast Asian Nations meet in Phnom Penh for the ASEAN Summit and a series of related summits against the backdrop of a worsening political crisis in ASEAN member Myanmar. The meeting also kicks off a string of talks with broader dialogue partners, including the East Asia Summit, a forum to be attended by the U.S., China, Japan, India, South Korea, Australia, New Zealand and Russia.
Participants will likely discuss geopolitical tensions in the South China Sea, the Taiwan Strait and the Korean Peninsula.
Singles’ Day
China’s Singles’ Day shopping blitz, the biggest shopping day in the world, concludes Friday. The shopping festival this year comes amid a slowdown in user growth across online shopping platforms, and a significant drag on China’s private consumption due to COVID-19. Although leading online retailers Alibaba Group Holding and JD.com have both reported “solid” presale figures for certain brands and categories, analysts anticipate slower growth in overall sales this year.
Singles’ Day sales results this year are also considered as a test for Trudy Dai, a former student of Alibaba founder Jack Ma, who took over leadership of the group’s core business, domestic e-commerce, in January.
Nintendo Store opens in Osaka
Three years after opening its first store in Tokyo, Nintendo will open its second outlet in Osaka. The new store in the Kansai region, which is home to the Kyoto-based company, will be the largest in Japan, about twice as large as the Tokyo store.
In addition to selling goods featuring characters from games like Super Mario, Animal Crossing, and The Legend of Zelda, the store will offer game experiences and events. With Japan reopening its borders, the store is expected to become a must-see for tourists and gaming fans.
Malaysia releases Q3 GDP
Earnings: Toshiba, SoftBank Group
WEEKEND
World Cup finals for rugby and cricket
The weekend will see two major sporting events take place in the Southern Hemisphere. On Saturday, the women’s Rugby World Cup final will be held in Auckland. The following day, Melbourne will host the cricket T20 World Cup final.