The week ahead has plenty of interest for market observers, with a flurry of regional growth and inflation reports set to be released. Malaysia will be releasing its September Industrial Production Index (IPI) figures on Tuesday.

UOB Global Economics and Markets Research expects the IPI to show a 0.1% to 0.0% year-on-year contraction in September, following August’s 0.3% y-o-y decline.

Across the causeway, Singapore will reveal its official reserves data for October on the same day (Nov 7).

Elsewhere in Asia, Indonesia and the Philippines’ gross domestic product (GDP) readings are due out this week. ING estimates that Indonesia’s economy would have likely accelerated in the third quarter, with GDP growth settling at 5.2% y-o-y. “An increase in consumption is likely to be the source of growth as the country’s inflation slid back within Bank Indonesia’s inflation target band,” it said in a report last Thursday.

It will be a busy data week for the Philippines, as it releases its October inflation number and trade data on Tuesday, followed by its 3Q GDP on Thursday. ING expects the Philippines’ October inflation to slow to 5.4% y-o-y from 6.1% previously, while 3Q GDP growth could slow to 4.2% y-o-y from 4.3% in 2Q2023. The Bangko Sentral ng Pilipinas will likely take both data points into consideration ahead of its policy meeting on Nov 16, ING says.

China will be releasing its trade data and inflation number this week, as President Xi Jinping is set to meet with US President Joe Biden on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco, which runs from Nov 11 to 17. There is no date for the highly anticipated meeting yet, but it will be the first time the two leaders have spoken since they met in November 2022 at the Group of 20 summit in Bali, Indonesia.

The agenda for the Biden-Xi meeting is likely to cover issues including disputes over their economic and technological ambitions, disagreements over Taiwan, human rights, as well as broader geopolitical issues such as the Russia-Ukraine war and Israel-Hamas tension.

China is set to announce its October trade performance on Tuesday and its October Consumer Price Index (CPI) on Thursday.

In a report last Friday, S&P Global Market Intelligence highlights that China’s CPI release will be eagerly awaited. “After the Caixin China Manufacturing PMI (Purchasing Managers’ Index) revealed a renewed deterioration in overall manufacturing conditions in October, expectations are for October’s trade data to soften in Mainland China while the PPI (Producer Price Index) may rise, in line with indications of rising price pressures from the manufacturing PMI price indices, potentially allaying concerns over deflation.”

The Reserve Bank of Australia (RBA) is the only major central bank with a monetary policy decision this week. According to the Bloomberg survey (as at Nov 3), of the 24 analysts polled, 21 expect the RBA to hike 25 basis points to 4.35% while the remaining three expect the RBA to keep it unchanged at 4.10%.

Over in the US, nearly 1,800 US-listed companies will be reporting in the week of Nov 6 to 10. The number of S&P 500 companies reporting is much lower at just 50, down from 157 in the previous week.

While there are no G7 monetary policy decisions this week, attention will be on several G7 central bank chiefs speaking at various events.

Bank of Japan governor Kazuo Ueda will hold a press conference in Nagoya on Nov 6 and markets will watch if he addresses the recent Reuters report that BoJ plans to exit from its ultra-easy monetary policy by sometime next year.

European Central Bank president Christine Lagarde will speak in Brussels, Belgium, on Nov 10, while US Federal Reserve chair Jerome Powell will speak on a panel at the International Monetary Fund research conference.

In the courts, the 1Malaysia Development Bhd-Tanore trial is scheduled to continue on Nov 6. However, it should be noted that jailed former prime minister Datuk Seri Najib Razak has been admitted to the hospital after testing positive for Covid-19 last week. Trial judge Datuk Collin Lawrence Sequerah is expected to deliver his decision on the prosecution’s amendment of charge application and the defence’s objection to the admissibility of banking documents when the trial continues.

On Thursday, the Kuala Lumpur High Court will decide whether to acquit or convict Muar member of parliament Syed Saddiq Syed Abdul Rahman on charges of abetting in criminal breach of trust involving RM1 million of Parti Pribumi Bersatu funds, misappropriation of property and money laundering.

On the corporate scene, Nova Wellness Group Bhd will be holding its annual general meeting (AGM) on Monday, followed by Eurospan Holdings Bhd and Ecobuilt Holdings Bhd on Tuesday. Gadang Holdings Bhd will convene its AGM on Wednesday and GuocoLand Malaysia Bhd on Friday.

The November results season is approaching its busiest period. MI Technovation Bhd and United Plantations Bhd are slated to release their quarterly results on Tuesday. MR DIY Group (M) Bhd, Hartalega Holdings Bhd and Fraser & Neave Holdings Bhd are due to announce their earnings performance on Wednesday.

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