Mario Bautista
Welcome to Your Week in Asia.
Former Japanese Defense Minister Shigeru Ishiba will take office as he succeeds Prime Minister Fumio Kishida, Vietnam reports quarterly economic growth figures and China kicks off a week-long holiday.
In Seoul, a hearing gets underway in Samsung Electronics Chairman Lee Jae-yong’s accounting fraud and stock manipulation case while Singapore’s former transport minister will be sentenced after pleading guilty to corruption charges.
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MONDAY
Samsung chairman fraud case
Samsung Electronics Chairman Lee Jae-yong attends an appeals court hearing over charges of stock manipulation and accounting fraud that were leveled against him. The case was linked to a merger of two Samsung affiliates in 2015. Prosecutors and Lee’s lawyers are expected to argue over evidence submitted at his trial following the business mogul’s acquittal in February.
China industry
China reveals its latest indicators of factory activity, after mixed results in August underscored the challenges facing the world’s second-largest economy.
TUESDAY
Japan’s new prime minister
Former Defense Minister and ruling Liberal Democratic Party heavyweight Shigeru Ishiba is to be appointed as Japan’s new leader. The 67-year-old banker-turned-politician, who has long wanted the top job, has mainly worked on security issues and the revival of Japan’s rural communities in his nearly four-decade political career.
China’s golden week
China marks the 75th anniversary of the founding of the People’s Republic, kicking off a string of “golden week” holidays. The period is typically one of the country’s busiest travel seasons, although early indications have pointed to subdued demand.
Tankan survey
The Bank of Japan will release its quarterly Tankan business sentiment survey, a key influencer of central bank policy decisions. In a QUICK survey of economists, the median forecast for the headline index among large manufacturers was unchanged from the previous quarter.
WEDNESDAY
U.S. vice presidential debate
As Asia starts its day, the U.S. vice presidential candidates will be meeting in New York on Tuesday night local time for their first and likely only debate of the 2024 race. Democrat Tim Walz will be making the case for Vice President Kamala Harris to move into the Oval Office, while the Republican JD Vance will be pushing for a return of former President Donald Trump.
THURSDAY
Sentencing of Singapore ex-minister Iswaran
Former Singapore Transport Minister S Iswaran is expected to receive his sentence, which may involve jail time, after pleading guilty to receiving expensive gifts when he was a public servant. The conviction of the veteran former politician from the ruling People’s Action Party has cast a shadow over the organization, which built its support on promises of clean governance.
SUNDAY
Vietnam GDP
Vietnam releases gross domestic product data for the third quarter. Observers will be looking at the supply-chain hub for signs of impact from Supertyphoon Yagi and U.S. interest rate cuts.
