China’s top legislative body, the National People’s Congress Standing Committee, meets on Monday with all eyes on fresh efforts to boost the economy. Indonesia and Russia hold their first joint naval drills while Tokyo’s stock exchange extends its trading day by 30 minutes in response to investor demand.
Automaker Toyota, Singapore Airlines, Tata Steel and Singapore-based bank UOB are among a slew of companies reporting earnings. Japan’s Olympus publishes its financial results just days after ousting Chief Executive Stefan Kaufmann over allegations he bought illegal drugs.
Malaysia holds a monetary policy meeting while the Philippines reports its quarterly economic growth figures.
China lawmakers converge
China’s National People’s Congress Standing Committee holds a five-day meeting to review several bills, as market observers are keen to see if a highly anticipated fiscal stimulus package gets the green light. Beijing has in recent months unveiled several piecemeal policy supports to shore up business confidence, but economists have urged more measures to boost sluggish economic growth.
Indonesia and Russia go to sea
Indonesia and Russia will hold their first joint naval drills in Surabaya, on the northeastern coast of Java island, from Monday to Friday. Southeast Asia’s largest economy has adopted a neutral foreign policy, avoiding taking sides over Russia’s invasion of Ukraine, while also trying to sidestep the U.S.-China rivalry. But Indonesia’s new President Prabowo Subianto is looking to boost ties with Russia, after meeting with Vladimir Putin in Moscow this summer.
