May 1st - May 7th, 2024
Chinese President Xi Jinping is embarking on his first European tour in five years, visiting France, Serbia, and Hungary. Trade tensions are expected to be a key topic of discussion, particularly with French President Emmanuel Macron and European Commission President Ursula von der Leyen. Xi's visit to Belgrade coincides with the anniversary of the 1999 NATO bombing of China's embassy, while in Budapest, he will meet with Hungarian Prime Minister Viktor Orban, a controversial figure within the EU.
Indonesia's statistics agency will announce the country's gross domestic product (GDP) for the first quarter of 2024. Economists predict a median growth of 5%. Bank Indonesia, the central bank, expects growth in the first two quarters of 2024 to exceed that of the final quarter of 2023, driven by increased household consumption during Ramadan and the Eid holiday.
India will hold the third phase of its multistage national elections, with over 90 seats in the lower house of parliament up for grabs. Around 1,350 candidates will compete across 12 states and federally-governed territories.
Malaysia's central bank is expected to maintain its overnight policy rate at 3.00% during its upcoming monetary committee meeting. Inflation remains moderate at 1.8%, with the central bank forecasting GDP growth of 4-5% in 2024.
This week will see several major companies announce their earnings, including Toyota Motor, Nintendo, and SMIC.
The Bank of Japan will release a summary of opinions from its last policy meeting, where it decided to maintain its current monetary policy. Investors are keen to learn more about discussions regarding BOJ bond purchases and the possibility of quantitative tightening as the bank moves away from its ultra-loose monetary policy.
Follow us on X, formerly Twitter, @NikkeiAsia for the latest news and analysis from Asia and beyond.