Japanese Prime Minister in Southeast Asia and Europe, Australian Rates, Hong Kong Election

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Welcome to your week in Asia.

Japan and China are on vacation for much of the week, but Japanese Prime Minister Fumio Kishida will continue his trip to Southeast Asia and Europe. His Indian counterpart, Narendra Modi, is also traveling to Europe to meet several leaders. The Russian-Ukrainian war should be a major topic of all meetings.

On Sunday, Hong Kong will hold its chief executive election, in which only one candidate has been nominated.

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MONDAY

Kishida on a trip to Southeast Asia and Europe

Japanese Prime Minister Fumio Kishida is on a week-long trip to Southeast Asia and Europe which started on April 29. After stops in Indonesia and Vietnam, Kishida is due to meet his Thai counterpart, Prayuth Chan-ocha, in Bangkok. Later in the week, Kishida will travel to Italy and the UK. The war in Ukraine and other global and regional issues will be the main topics of discussion.

Modi meets European leaders

Indian Prime Minister Narendra Modi begins his three-day official tour of Europe. He must go to Germany, Denmark and France. The trip comes amid Western pressure for New Delhi to take a tougher stance against Moscow in the face of Russia’s invasion of Ukraine. Russia is a long-standing defense and strategic partner of India.

In Berlin, Modi will meet with Chancellor Olaf Scholz; he will also co-chair the sixth edition of the India-Germany intergovernmental consultations. Afterwards, Modi will travel to Copenhagen at the invitation of his counterpart Mette Frederiksen and attend the second India-North Summit hosted by Denmark. The meeting will also bring together the Prime Ministers of Iceland, Norway, Sweden and Finland. “The summit will focus on topics such as post-pandemic economic recovery, climate change, innovation and technology, renewable energy, changing global security scenario and Indo-Nordic cooperation in the Arctic region. “, according to a statement from the Indian government. On the way back, Modi will make a brief stopover in Paris, where he will meet French President Emmanuel Macron.

TUESDAY

IPI Takes the Final Roll of the Dice on Its Saipan Casino License

Hong Kong-listed Imperial Pacific International Holdings will fight to retain its monopoly license to offer casino games on the US Pacific island of Saipan. Regulators convened a hearing to revoke the permit due to the company’s failure to pay more than $25 million owed for licensing and other fees. IPI’s sole casino has been closed since March 2020 due to COVID, which the company says should allow it to defer most of its government obligations under its license.

Hong Kong announces first quarter GDP

Monetary Policy Announcements: Australia

WEDNESDAY

JD.com decides on a “special dividend”

JD.com may announce a special cash dividend. Citi analyst Alicia Yap thinks such a move would show that JD.com is “confident in its business prospects and ability to generate cash flow,” and would likely suggest that “management and the board The company’s directors are evaluating different ways to restore shareholder value, especially given the current uncertain macro environment.” In early April, Richard Liu, founder of the online retailer, handed over the CEO role to Chairman Xu Lei.

India’s state-owned insurer IPO opens

The initial public offering of Life Insurance Corp., India’s largest insurer, will be open until May 9 at a range of 902 rupees to 949 rupees ($11.79 to $12.40) per share. Listing is scheduled for May 17. The Indian government has slashed the IPO target by two-thirds to ensure that the country’s biggest ever listing materializes. It faces headwinds such as a slowing global economy and Russia’s invasion of Ukraine.

Business income: Kakao

THURSDAY

AfDB Annual Meeting

The Asian Development Bank is holding the first leg of its annual meeting virtually, with governors due to discuss the finances of the multilateral lender. The second stage, an in-person meeting in September, will be held in Colombo, Sri Lanka, which is currently in the throes of an economic crisis.

FRIDAY

Company ewinnings: Japan Airlines

WEEKEND

Hong Kong Chief Executive Election

A new chief executive to lead Hong Kong will be chosen on Sunday by a group of nearly 1,500 members of an election committee. Security hardliner John Lee is the only candidate and will most likely be chosen after being named to represent more than half of the election committee members last month. Lee, in his election manifesto, said he looked forward to “leading Hong Kong into a new chapter”. On Friday, he said he wanted to stem the housing shortage in China by setting up two working groups aimed at reducing the waiting time to one year and making land available.

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