Welcome to Your Week in Asia.
India is facing the prospect of an even harsher trade environment after U.S. President Donald Trump reportedly asked the European Union to impose a 100% levy as part of a pressure campaign against Russia over the war in Ukraine. In the meantime, data published this week will give a partial insight into the impact of the present tariff situation by showing imports and exports after a 25% rate, and later 50%, kicked in.
While Hong Kong's Hang Seng stock index has enjoyed a stellar year so far, concerns are still lingering over parts of the city's economy. In a policy address this week, Chief Executive John Lee is expected to set out measures to deal with those areas, such as weak consumption.
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MONDAY
India trade figures
India reports its balance of trade data for the month of August, the first reading of the economic indicator since its biggest export destination, the U.S., pushed up tariffs on the country to 25% on Aug. 7 and then 50% on Aug. 27. India had seen its trade deficit surge to an eight-month high of over $27 billion in July as imports shot up, but exports had not shown any adverse impact from the lower U.S. tariffs in effect at that time.
Data: China industrial production, retail goods sales, investment and other key economic indicators; Philippine remittances
TUESDAY
Hesai IPO
Hesai Group, a Chinese maker of lidar sensors for self-driving vehicles, is scheduled to list on the Hong Kong Stock Exchange. The company, which is already traded on the Nasdaq in the U.S., said in its prospectus that it aims to raise about $474 million through the offering. Hesai's move comes as it appeals against its inclusion on a U.S. blacklist of Chinese military-linked companies, which its CEO called "ridiculous." The Nasdaq, meanwhile, recently proposed stricter requirements for Chinese companies seeking to go public there.
WEDNESDAY
Hong Kong chief executive policy address
Lee will deliver his annual policy address, in which he will talk about plans to steer the city's economy. Analysts are watching for a potential stamp duty cut on residential property purchases, while another topic may be efforts to attract more visitors from mainland China to help struggling local retailers.
China military forum
China hosts the 12th Beijing Xiangshan Forum, with military personnel and scholars expected to deliberate on regional security issues and cooperation. The three-day event is set to draw delegates from more than 100 countries and comes on the heels of a recent military parade in Beijing.
U.S. Fed rates decision
The U.S. Federal Reserve is widely expected to cut its benchmark interest rate at the Federal Open Market Committee meeting. A report on the job market released Sept. 5 showed a slow hiring environment, prompting some investors and analysts to make bets on a 50-basis-point cut instead of a 25-basis-point cut. Many eyes will be on the policy statement and Chair Jerome Powell's news conference for hints of a future policy path.
TikTok deadline looms again
The deadline for ByteDance to sell TikTok to non-Chinese buyers or have the app banned in the U.S. arrives again -- unless Trump steps in with another extension. Trump has repeatedly put off implementing the "sell or ban" law, which was passed under the previous administration with bipartisan support.
Monetary policy: Indonesia
Data: Japan trade
FRIDAY
BOJ policy meeting
The Bank of Japan will announce its monetary policy decision. The board meeting is the first since U.S. President Donald Trump signed an executive order to cut the tariff rate on Japanese imports. Though the market consensus is that the BOJ is in no rush to bump up interest rates yet, attention will be focused on Gov. Kazuo Ueda's press conference and whether he will signal that a rate hike is in the offing in the near future.
