Welcome to Your Week in Asia.
Monday will see the start of Cobra Gold 2024, a multinational military exercise in Thailand intended to enhance regional interoperability.
Hong Kong will announce its budget for 2024/25 on Wednesday.
On Thursday, India will release its GDP for the October-December quarter, and South Korea is going to publish its birth rate for 2023, which is expected to decline further from 0.78 in 2022.
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MONDAY
Thailand, U.S. begin Cobra Gold exercise
Southeast Asia's longest-running military exercise kicks off on Monday until March 8 with 30 participating countries, including co-hosts Thailand and the U.S. Each of the hosts will have more than 4,000 troops in the main drills with Singapore, Indonesia, Japan, South Korea and Malaysia participating. China and India will join humanitarian assistance training exercises.
China prepares for annual legislative session
China's top legislature, the National People's Congress Standing Committee, is set to commence a two-day meeting to finalize the agenda for the annual meeting starting on March 5. The agenda includes national budget and socio-economic development plans for 2024 that will be announced on the eve of the annual parliamentary session.
Mobile World Congress begins in Barcelona
A global showcase for cutting-edge connectivity and wireless technologies, Mobile World Congress will see industry giants in mobile chips, telecoms, cloud and related devices unveil their latest offerings. In 2024, the spotlight will be on two key themes: harnessing generative AI across different industries and showcasing AI-powered advancements in servers, PCs, smartphones and other devices. Tech companies such as Microsoft, HP and Dell also plan to demonstrate how they leverage AI technologies into services and products in digitalizing 5G network infrastructure.
TUESDAY
Japan data: January CPI
WEDNESDAY
Hong Kong budget
The Hong Kong government will announce its budget for 2024/25. The financial secretary predicted a deficit of more than $100 million Hong Kong dollars in recent months, more than double the original estimate. Financial analysts point to plunging land sales and smaller stamp duties that have reduced government reserves. Some analysts have suggested that the authorities review the tax system.
Philippine President visits Australia
Philippine President Ferdinand Marcos Jr. heads to Australia, where he will address parliament and meet with senior officials to discuss trade, defense and investment. The two countries elevated their relationship to a strategic partnership in 2023, and are expected to sign new agreements to strengthen "mutual capacity building" during the two-day visit.
Earnings: Baidu, Sun Hung Kai Properties, OCBC, Coupang
Monetary policy: New Zealand
THURSDAY
South Korean birth rate for 2023
New statistics are expected to indicate a continued decline in South Korea's birth rate, already the lowest in the world, adding urgency to the daunting task of warding off a possible economic crisis caused by the shrinking population.
South Korean policymakers have forecasted that the birth rate of 0.72 recorded last year will dip to 0.65 in 2025, threatening the country's economic growth and ability to provide welfare measures, such as pensions, for a growing number of elderly people.
GDP: India, Turkey
Earnings: HKEX
FRIDAY
Turkey hosts Antalya Diplomacy Forum
Turkey will host the 3rd Antalya Diplomacy Forum in its Mediterranean resort city of Antalya. More than 20 heads of state and government and 80 ministers will attend the three-day event. Under the theme "Advancing Diplomacy in Times of Turmoil," this year's event will bring together government officials as well as opinion leaders, academics, and representatives of international institutions.
China data: PMI
