Welcome to Your Week in Asia.
Japanese Prime Minister Fumio Kishida is set to make a policy speech to the country’s parliament on Monday, where he is expected to tout the government’s new economic stimulus plan to tackle rising prices as well as his drive toward the legalization of ride-hailing services.
Markets will also be closely watching another policy address on Wednesday, this time by Hong Kong Chief Executive John Lee, with observers looking for any signs of measures to ease a sluggish property sector.
On Thursday, Japan’s largest motor show begins in Tokyo, while Bangkok hosts Thailand’s first auto expo dedicated to electric vehicles.
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MONDAY
Kishida policy speech
Japan’s prime minister will deliver a policy speech at an extraordinary session of the Diet, the country’s parliament. Fumio Kishida is expected to outline an economic stimulus plan, including tax cuts, to combat rising prices. The speech is also likely to feature proposals to consider legalizing ride-hailing for drivers without a taxi license, looking to address driver shortages in tourist hot spots and rural areas.
China’s Singles Day sales start
China’s major e-commerce platforms begin the Singles Day shopping festival, which spans about three weeks through Nov. 11. JD.com will start on Monday, followed by Alibaba’s Taobao and Tmall on Tuesday, while bargain marketplace app Pinduoduo kicked off sales on Oct. 20.
Amid China’s economic downturn and slow consumption, all platforms are emphasizing “low prices” this year, as Pinduoduo is aggressively trying to lure users from Taobao and JD with ultralow prices. This year’s shopping frenzy is also a test for Trudy Dai, a former student of Jack Ma and now CEO of Taobao and Tmall Group, after Alibaba Group was split into six main business groups this year.
Vietnam’s parliament opens
Vietnam’s National Assembly opens its fall session with nine draft laws on the docket, three of them devoted to fraught issues surrounding land, housing and property firms. Other bills set to be voted on could affect telecommunications, credit companies and natural resource management.
TUESDAY
Earnings: Posco
WEDNESDAY
Hong Kong policy address
Hong Kong Chief Executive John Lee unveils his second policy address amid a sluggish property market, faltering business confidence and geopolitical tensions. The Chinese special administrative region reopened its borders with the mainland in February, but a hoped-for economic rebound has been slowed by China’s own financial issues.
Last year, Lee unveiled a top-talent visa scheme to plug a brain drain sparked by a national security crackdown and harsh pandemic restrictions. This time around, economists are hoping property cooling measures will be scrapped to slow falling home prices, while political observers are expecting a lighter emphasis on national security.
Earnings: LG Display
THURSDAY
Japan’s largest motor show starts
Previously known as the Tokyo Motor Show, this biennial event in the world’s fourth-biggest auto market is back after four years as the 2021 round was canceled due to COVID. It has been rebranded as the Japan Mobility Show, opening the floor to a record 475 enterprises that include not just automakers and their suppliers but a new crop of startups and tech companies exploring the future of transport.
Bangkok EV Expo
Thailand’s first car show dedicated to electric vehicles will showcase cars and motorcycles as well as renewable energy providers. The event comes as the year-end high season for vehicle sales revs up.
Earnings: SK Hynix
Monetary policy: Turkey
WEEKEND
Seoul Halloween disaster memorial
On Sunday, South Korea marks the first anniversary of the Seoul Halloween disaster, when more than 150 people, mostly in their 20s and 30s, died due to a crush in a narrow alley in the city’s Itaewon district. The tragedy still haunts the country, with bereaved families demanding an independent investigation and comprehensive compensation.
Turkey celebrates 100th anniversary of the establishment of the republic