Welcome to Your Week in Asia.
India and Japan have been roiled by U.S. President Donald Trump’s sharp changes on tariffs, but this week attention will be focused on China and its trade truce with the U.S. Businesses and markets will be watching closely to see if it will be extended, or a deal struck.
Several countries will celebrate their independence anniversaries this week, with leaders giving speeches to mark the occasions and set out policy priorities for the year ahead.
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MONDAY
Vietnam-South Korea summit
Vietnam’s top leader To Lam and South Korean President Lee Jae Myung will hold a summit followed by a state banquet as part of Lam’s four-day state visit to South Korea through Wednesday. Lam will be the first foreign leader hosted by Lee since the South Korean president took office in June, and the visit comes at a time of blossoming bilateral ties. Lee’s office said that more than 10,000 South Korean companies have operations in Vietnam, and the country is positioning itself to become the largest source of foreign investment in the Southeast Asian nation.
TUESDAY
U.S.-China trade truce ends
The trade war truce between the world’s two largest economies is due to expire, unless U.S. President Donald Trump extends it. The 90-day detente agreed in Geneva in May halted a cycle of tit-for-tat retaliation that had sent tariffs on each other soaring into triple digits. Negotiators met in Stockholm at the end of last month and agreed to seek an extension, but American officials said the final decision rests with Trump. The president has since said the two sides are “very close” to a deal.
Data: Singapore revised gross domestic product, India inflation
Earnings: Sea
Monetary policy: Reserve Bank of Australia
WEDNESDAY
Earnings: GoTo, Commonwealth Bank
Monetary policy: Bank of Thailand
THURSDAY
Jimmy Lai trial resumes
The marathon trial of Hong Kong media mogul Jimmy Lai reconvenes for closing arguments. The founder of the pro-democracy news outlet Apple Daily, which was forced to close in 2021, has been held in solitary confinement for nearly 1,700 days under the controversial national security law that China imposed on the city. Western governments and human rights groups have called for his release.
CK Hutchison in the spotlight
Hong Kong conglomerate CK Hutchison releases its first-half earnings, with investors and observers looking for clues on the fate of its plan to sell dozens of global ports. The group earlier this year agreed to offload the maritime interests, including two ports around the Panama Canal, to a consortium including U.S. asset manager BlackRock. But the arrangement met heavy resistance from Beijing, and the exclusive negotiating period expired last month, when CK Hutchison said it would invite a “major strategic investor” from mainland China to join the buyers.
Foxconn results
Taiwan’s Foxconn reports its full second-quarter earnings. The Apple and Nvidia supplier already disclosed record revenue for the three months through June thanks to booming demand for artificial intelligence and cloud computing products. The world’s largest contract electronics major faces uncertainties in coming quarters, however, including tariffs, a precarious geopolitical situation and questions over how long the AI investment bonanza will last.
Earnings: Olam, Geely, Westpac
FRIDAY
Prabowo gives State of the Nation Address
Indonesian President Prabowo Subianto is set to deliver his first State of the Nation Address, in which he will explain the government’s priority programs for the coming year. The speech will also include key economic targets, highlighting the administration’s fiscal direction under his leadership. The address comes ahead of Indonesia’s 80th Independence Day celebrations on Sunday.
Independence days marked
South Korea will mark 80 years since the end of occupation by Japan during its National Liberation Day holiday. The day customarily features the announcement of presidential pardons, and this year local media have reported that prominent left-wing politician and former Justice Minister Cho Kuk, convicted of forging credentials, could be a recipient. India, meanwhile, will celebrate the end of British rule over the South Asian nation, with Prime Minister Narendra Modi set to deliver a speech from the historic Red Fort in New Delhi. On Sunday, Singaporean Prime Minister Lawrence Wong will address his country’s National Day Rally, after the city-state’s 60th anniversary of independence on Aug. 9.
Ong Beng Seng sentencing
A Singaporean court is set to sentence property tycoon Ong Beng Seng after he pled guilty to his role in a gifts scandal involving former Transport Minister S. Iswaran. The latter was given a year’s prison term, which he finished serving in June. Ong could potentially receive a fine, as the 79-year-old, who has multiple medical issues, could be deemed too frail for jail time.
Data: Japan GDP, Malaysia GDP
