Trump vs Biden, Ant Group debut and TikTok in court

Trump vs Biden, Ant Group debut and TikTok in court
Trump vs Biden, Ant Group debut and TikTok in court
Welcome to your week in Asia.

All eyes around the world will be on the US presidential election this week. Given the high volume of mail-in votes this year as voters avoid the coronavirus, there may not be a clear winner if Asia starts the day on Wednesday.

Another election will take place on Sunday in Myanmar. Ant Group shares will debut in Shanghai and Hong Kong during the week.

Trade data will come from China on Saturday, while Indonesia’s GDP figures will be released on Thursday. And the central banks in Malaysia and Australia will meet on Tuesday.

Stay up to date with our coverage by following us on Twitter @ NikkeiAsia.

MONDAY

Hong Kong Fintech Week

Yi Gang, Governor of the People’s Bank of China, will speak at a podium on the first day of Hong Kong Fintech Week, followed by Bridgewater founder Ray Dalio. Other keynote speakers at the event include Jessica Tan, Co-CEO of Ping An Group, Noel Quinn, HSBC CEO Charles Li, Eddie Yue, Executive Director of the Hong Kong Monetary Authority, and Bill Winters of Standard Chartered.

TUESDAY

Carrie Lam travels to Beijing

Hong Kong’s embattled leader, Chief Executive Carrie Lam, will take a three-day trip to Beijing to discuss plans to revive the financial center’s economy, which was ravaged by COVID-19 and anti-government protests last year. This month, the Beijing-appointed chairwoman postponed her annual keynote address for the first time, highlighting the need to discuss support measures with the mainland authorities.

Quarterly Results from Lenovo

The world’s largest PC manufacturer Lenovo will announce the results from July to September. The Chinese company sees opportunities to expand its software and hardware business through the digital shift of COVID-19.

US presidential election

Will President Donald stay in Washington for another four years or will voters send former Vice President Joe Biden back to the White House? What is normally a reckoning day in US politics can stretch to weeks or even months as officials work to count a high volume of postal ballot papers that year.

Game Status: According to the average of the national polls by Real Clear Politics, Biden was xx points ahead on Sunday. Both candidates spent the last week before the election in swing state Florida. Biden surrogates make multiple stops in North Carolina, one of the few historically Republican states that Democrats believe are in the game.

What it means for Asia: No matter who wins, Trump’s China policy is here to stay.

WEDNESDAY

South Korea resumes DMZ tours

The Panmunjom tour, which has been canceled for a year since the African swine fever outbreak, continues in South Korea. Panmunjom is a common security area within the Demilitarized Zone, 60 km north of Seoul and 10 km east of Kaesong, North Korea. Tourists can also visit the Freedom House, where President Moon Jae-in, US President Donald Trump and North Korean leader Kim Jong Un met last year.

Trial of the TikTok ban

A Washington district court is set to hold a hearing on the fate of TikTok. TikTok is requesting an injunction to suspend President Donald Trump’s order that would force a “complete shutdown” of the popular video sharing app in the US. The court blocked part of the order in September banning all TikTok downloads from app stores.

Japan Telco Results Under Suga Pressure

SoftBank Corp., the Japanese telecommunications unit of SoftBank Group, recently responded to government pressure to cut cell phone tariffs by announcing a new pricing plan for its low-cost brand. Analysts will watch how much the measures would affect SoftBank’s bottom line when the second quarter results are released.

Nippon Telegraph and Telephone, which is privatizing telecommunications unit NTT Docomo to improve competitiveness against SoftBank, reported profits on Friday.

THURSDAY

Ant Group debuts in Hong Kong and Shanghai

Ant Group is making its highly anticipated Hong Kong and Shanghai IPO after successfully completing the world’s largest IPO.

Why it matters: A strong opening to Ant would encourage other companies in the region to choose Hong Kong and Shanghai over the New York Stock Exchange and Nasdaq.

Background: Ant’s initial public offering saw record subscriptions with bids totaling $ 2.8 trillion in Shanghai.

Alibaba Results Ride Ant Group Coattails

Ant’s parent company, Alibaba Group, will announce results on the same day from July to September. The operator of China’s largest online shopping platform saw remarkable growth this year as more people turned to online shopping for groceries and other everyday necessities during the pandemic. Analysts will watch whether Alibaba can sustain such growth as economic activity in China gradually returns to normal.

Nintendo quarterly results

Nintendo will show the profits for the period April to September. Investors and analysts are expecting strong results from the gaming giant, which had massive success during COVID-19 when the Nintendo game Animal Crossing: New Horizons became a global hit.

FRIDAY

Interim results from Toyota and Honda

Japanese automakers Toyota Motor and Honda Motor will be making profits mid-year. Both automakers saw global production spike in September year-over-year and promised growth amid the pandemic. President Akio Toyoda will speak for Toyota online, a rare appearance at a press conference with interim results.

More bad news for Singapore Airlines?

Singapore Airlines will release its financial results for July through September after a massive net loss of 1.12 billion Singapore dollars ($ 820 million) in the April-June quarter.

With a 98% drop in passengers in September year over year and no domestic routes to fall back on, the national carrier is one of the worst hit airlines in the region.

Although Singapore is gradually reopening to international traffic, the recovery in air demand remains weak, causing the company to cut around 4,000 jobs. It is worth watching what management will say about further restructuring as well as the outlook for demand.

WEEKEND

Aung San Suu Kyi faces elections

Myanmar will hold parliamentary elections on November 8, in which the incumbent government, led by State Councilor Aung San Suu Kyi and her party, the National League for Democracy (NLD), will be tested by people for the first time since its landslide victory in 2015.

Given Suu Kyi’s popularity domestically, there is little doubt that NLD will win the general election again. The voting results are expected to be available in the following week. Elected parliamentarians will then vote for a new president in late January or early February.

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