Toyota AGM, China economic data, BOJ policy meeting
Welcome to Your Week in Asia.
China will release key statistics on industrial production, property and retail sales, giving a snapshot of its current trajectory of economic recovery from COVID-19. A biannual online shopping festival that will conclude on Sunday can also shed light on the country's consumer demand.
Japan is set to publish preliminary trade numbers for May after reporting deficits for the past 21 months in a row.
Japanese Emperor Naruhito and Empress Masako will start a trip to Indonesia on Saturday, their first state visit since ascending the throne in 2019.
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This is an adapted version of Nikkei Asia’s Your Week in Asia newsletter - a briefing of the most important business, economic and political events happening across Asia this week.?Register to our full selection of newsletters.
MONDAY
Asia New Vision Forum by China's Caixin media in Singapore
Over 300 policy makers, business leaders and scholars will gather in Singapore for an inaugural business leadership forum, organized by Caixin Global, a Beijing-based news website. Singapore's Deputy Prime Minister Heng Swee Keat and former U.S. Treasury Secretary Lawrence Summers are among the key speakers of the two-day event, which will discuss key topics such as China's interactions with the world, business innovation and climate change challenges.
Hong Kong court handles case about banning protest song
Hong Kong's High Court is due to hear the government's case for an injunction to outlaw a song associated with the 2019 democracy protests. Wilson Chan, a judge handling national security cases will handle the application, which seeks to ban anyone from "broadcasting, performing, printing, publishing, selling, offering for sale, distributing, disseminating, displaying or reproducing" the unofficial anthem, which includes the use of any internet platform.
The application includes links to 32 videos related to the song on Google's YouTube. Authorities say the song contains a slogan that amounts to advocating secession and has heavily criticized Google for featuring the song in search results for Hong Kong's national anthem.
Monetary policy: Pakistan
TUESDAY
Asia Clean Energy Forum opens in Manila
The Asian Development Bank opens the four-day Asia Clean Energy Forum in Manila. The event, co-organized by the United States Agency for International Development and the Korea Energy Agency, aims to gather public and private industry stakeholders and "share insights on how to take action using clean energy solutions in the pursuit of a prosperous, inclusive, resilient, and sustainable Asia and the Pacific."
Palestinian president visits China
President Mahmoud Abbas of Palestine kicks off his four-day visit to China on an invitation by his counterpart President Xi Jinping, who has offered to help facilitate Israel-Palestinian peace talks.
WEDNESDAY
Toyota AGM
Toyota Motor holds its annual general shareholders' meeting at its headquarters in Aichi Prefecture. Japan's most valuable company will face an unprecedented showdown with investors as proxy advisers and foreign pension funds question the automaker's environmental efforts and governance, backing a shareholder proposal by European institutional investors urging better disclosure of the company's lobbying on climate change and opposing a resolution to re-elect Akio Toyoda, the ex-president and business guru, as chairman, citing lack of board independence.
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THURSDAY
China economic data
China will announce key economic data for May that includes industrial production, housing sales and retails. Statistics released previously showed a fall in?factory activities and?trade, underlining the country's unstable economic recovery from the pandemic.
Japan May trade statistics
Japan's Ministry of Finance releases preliminary monthly trade statistics for May. As of April, Japan had recorded a trade deficit for 21 consecutive months. The deficit has increased sharply especially after Russia's invasion of Ukraine, due to high resource prices and a weak yen. In the last three months, however, the deficit has been narrowing as the value of imports declined. Going forward, exports to the U.S. and Europe, which will be affected by higher interest rates, are expected to slow down.
Pegatron AGM
Taiwan's iPhone assembler Pegatron holds its annual general shareholders' meeting in Taipei.
Monetary policy: Taiwan
FRIDAY
BOJ policy meeting
The Bank of Japan is expected to maintain its ultra-easy monetary policy when its board meets Thursday and Friday, despite elevated levels of?consumer inflation. Gov. Kazuo Ueda remains cautious about the risks of weaker global growth and appears keen to?keep monetary support in place. However, expectations remain high among market players that the BOJ will adjust its policy this year, making the policy decision a highly anticipated event.
G7 Transport Ministers' Meeting
Transport ministers from the Group of Seven wealthy economies will gather in the central Japanese city of Ise, Mie Prefecture, home to a historical Shinto shrine valued as the "Soul of Japan" and the venue for the previous Japan-chaired G7 summit in 2016. Participants will discuss how governments can support private sector efforts to improve accessibility in depopulated areas, realize inclusive transport, and decarbonize the road sector.
WEEKEND
Japan Emperor visits Indonesia
Japanese Emperor Naruhito and Empress Masako will?visit Indonesia on June 17-23 as state guests. During their planned stay, they will attend a banquet hosted by Indonesian President Joko Widodo and his wife. Naruhito is also scheduled to go to Yogyakarta, where he will attend a dinner hosted by the governor of the special province and visit Borobudur, a world heritage Buddhist temple. President Widodo expressed his wish to invite Naruhito and Masako to his country when they met during Widodo's stay in Japan last July.
China e-commerce festival
China's 618 shopping blitz, one of the two major shopping carnivals in the country, wraps up Sunday. Since this is the first major shopping event since China's reopening, it may offer a glimpse into the soft consumption in the country. As more e-commerce platforms, such as Pinduoduo, claim that they provide all-time cheap pricing, Chinese customers' interest in shopping binges has been gradually dwindling in recent years. More platforms are claiming to give exclusive prices this year, intensifying the competition over prior years.
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