(MENAFN– ING)
Japan: Key Inflation Data Next Week
Next week, watch for Tokyo’s consumer price index (CPI) and flash PMIs. We expect Tokyo’s CPI to hold at 2.2% year-on-year, with a significant monthly increase. This information will be crucial for determining the Bank of Japan’s rate hike timing. The manufacturing PMI should improve, but the service PMI may decline slightly while remaining above neutral.
South Korea: GDP and Survey Releases
South Korea will release its consumer and business surveys along with third-quarter GDP data. We forecast a modest GDP rebound of 0.4% from -0.2% last quarter. Construction and consumption may limit growth, with exports continuing to be a key driver. We anticipate softer survey data due to uncertainty in the US economy.
Singapore: Inflation Trends
Singapore’s headline inflation is expected to drop further as gasoline prices fall, potentially leading to the first sub-2.0% inflation rate since March 2021 at 0.2% month-on-month. However, core inflation may remain steady at 2.7% due to strong wage growth affecting service prices. Industrial production is projected to grow at 3.0% YoY, down from 6.7%.
Taiwan: Export Orders and Production Data
Taiwan will release export orders data on Monday, likely showing stable growth around 10.9% YoY. Industrial production data will come out Wednesday, with growth expected to moderate to 12.6% YoY from 13.4%.
China: Quiet Week Ahead
After a busy week of data, China will have a quiet week with the loan prime rate announcement on Monday, expected to drop by 20bp. No changes are anticipated for the MLF rate following a previous cut. Watch for possible government briefings or announcements regarding the National People’s Congress as stimulus efforts are a major focus for the markets.
Key events in Asia next week. Source: Refinitiv, ING
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