Welcome to your week in Asia.
Tokyo goes to the polls to elect a new governor for the world’s largest city, while Japan’s central bank releases its closely watched Tangen survey, which provides a snapshot of the country’s business confidence.
This year’s summit of the China-led Shanghai Cooperation Organization kicks off in Kazakhstan, Indonesia hosts a green economy conference and EV maker BYD is set to open a new factory in Thailand. Samsung reports quarterly earnings on Friday.
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Monday
Bank of Japan’s Tangan survey
The Bank of Japan’s quarterly Tangan business sentiment survey could be hurt by buoyant semiconductor demand and the fallout from safety testing scandals at Toyota, Mazda and several other automakers. Confidence among major manufacturers is expected to show some improvement, according to a quick survey of economists.
Hong Kong returns to China for anniversary
Hong Kong marks 27 years since the former British colony returned to Chinese rule. Gone are the days when residents would take to the streets on occasion to call for the protection of liberties, as the city is now under strict national security laws imposed by Beijing and the local government. Meanwhile, on the mainland, Monday marked the first anniversary of the updated Counter-Espionage Act, which expanded the definition of espionage and gave authorities new powers.
tuesday
Thailand Senate Elections
Election officials will announce the names of the 200 new senators who pass the final round of vetting, after an obscure process in which 20 professional panels vote on their peers without input from the public. While the new Senate will not have a say in future votes for the prime minister, it will maintain a role in overseeing the executive branch and appointing members of independent bodies such as the Electoral and Anti-Corruption Commissions.
Wednesday
Shanghai Cooperation Organization Summit
Kazakhstan is hosting this year’s summit of the Shanghai Cooperation Organization — a China-led group seen as part of Beijing’s push to promote an alternative world order. But there is no shortage of friction between India and the nine full members that include Pakistan, Iran, Russia and several Central Asian countries.
Hyundai and LG open EV battery plant
Hyundai Motor Group and LG Energy Solutions are set to open their first electric vehicle battery cell plant in Indonesia. The $1.1 billion facility, near Hyundai’s EV assembly plant in West Java province, will have the capacity to produce enough batteries to power 150,000 electric cars annually.
Indonesia hosts Green Economy Expo
Indonesia’s Ministry of National Development Planning is hosting the Green Economy Expo in Jakarta from Wednesday to Friday. The CEO of energy company Pertamina and the chairman of fertilizer producer Bubuk Indonesia will also attend.
Thursday
Shanghai AI Conference
Shanghai aims to cement itself as a center of AI innovation as competition with the US intensifies in the new field, hosting the World Artificial Intelligence Conference. The four-day government-sponsored event will showcase the latest technology under the theme „Personnel AI for Good and All”.
EU Tariffs on China EVs
Barring an 11th-hour deal between the two sides, the EU’s temporary tariffs on China’s electric vehicles are set to go into effect. In mid-June, Europe said it would impose additional duties of up to 38% on imported cars deemed unfairly subsidized by the Chinese government. But the move has sparked concerns of possible retaliation, with major auto exporter Germany pushing for a compromise.
BYD opens Thailand plant
BYD is opening a long-awaited factory in Thailand, where it plans to produce 150,000 units annually. Establishing manufacturing hubs in the growing Southeast Asian market will be critical for Chinese EV makers as they face the prospect of tougher EU tariffs.
Friday
Revenue: Samsung Electronics
Sunday:
Tokyo has chosen a new leader
Tokyo voted to choose its next governor, ending a two-week contest between incumbent Yuriko Koike and her main rival, Renho Saito, backed by the opposition, backed by Japan’s ruling Liberal Democratic Party. More than 11.5 million Tokyoites are registered to vote, and 56 candidates are on the ballot. The winner will hold the job for four years and oversee Japan’s largest municipal budget.