Welcome to your week in Asia.
Three different COVID vaccines will be rolled out in Asian countries this week. On Friday, South Korea they will begin administering the AstraZeneca vaccine to 272,000 workers and residents under 65 at care centers for the elderly. People over 65 are excluded for now, because the effectiveness of the specific vaccine for that age group is uncertain.
In Malaysia, Prime Minister Muhyiddin Yassin is set to receive the first Pfizer vaccine in his country on Wednesday – two days earlier than planned – followed by around 500,000 health care workers. Malaysia expects to complete the vaccination program early next year.
Thailand will begin giving the Sinovac vaccine on Wednesday as well.
Australia The vaccine is also expected to be released on Monday, initially with Pfizer jobs.
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MONDAY
Chip Wars: Huawei launches Mate X2
Huawei Technologies will launch the third generation of flexible smartphones on Monday in China. The Huawei Mate X2 will be powered by the built-in Kirin 9000 chip, the same chipset embedded in the flagship Mate 40 smartphone launched last year. The Kirin 9000 was manufactured by TSMC with the most advanced 5-nanometer chip production technology in the industry, before supply was cut off by the U.S. government.
Separately, the Chinese tech giant will on the same day host two forums on sustainability ecosystems and cybersecurity ahead of the 2021 Mobile World Congress in Shanghai.
TUESDAY
HSBC restructuring plan update
HSBC unveils a revised restructuring plan while reporting a 33% drop in full-year profits, after the pandemic coronavirus infection pushed up loan loss provisions. The bank said in October that it would cut its 2022 cost base beyond its original $ 31 billion target and reduce its loan book even deeper in hopes of freeing up money to invest in more profitable businesses.
They plan to invest in new products in Asia, especially in the wealth, insurance, trade finance, retail banking and market industries, including foreign exchange, to increase tax revenue.
A big question is whether HSBC will reposition shares after its cancellation in 2020 for the first time in 74 years under pressure from British regulators. The move angered Asian shareholders, who own a third of the bank’s shares.
Mobile World Congress in Shanghai
The 2021 Mobile World Congress will begin in Shanghai on Tuesday, a rare personal (and online) international trade show to be held at the time of the pandemic. The main MWC, which Barcelona usually hosts in February, was canceled last year and pushed back to June 28th.
Speakers to watch: Huawei Technologies Vice Chairman Ken Hu, ZTE President Su Ziyang, Lenovo chairman Yang Yuanqing and Nokia President Pekka Lundmark,
Will Sembcorp stay in Myanmar?
Singapore conglomerate Sembcorp Industries operates a gas-fired power plant in Myanmar and plans to develop an industrial park in the country. Investors will listen to Tuesday’s financial results announcement for updates on these industries as the coup affects Myanmar’s economy and foreign investors.
WEDNESDAY
Good year for HKEX
Hong Kong Trading & Clearing, the world’s most valuable financial exchange operator, is expected on Wednesday to post a 20.5% increase in its annual net profit and a 16% growth in revenue, as expected. trade volumes and new inventories will rise in 2020.
The exchange is benefiting from closer ties to mainland China, with volumes going up in the stock linking program that allows mainland investors to buy stock listed in Hong Kong. Global investors can also buy Yuan denominated shares in Shanghai and Shenzhen through Hong Kong.
Stock link trading volumes accounted for 10% of HKEX’s revenue in the first nine months and continued to grow. Investors on the mainland have made net purchases of more than $ 50 billion so far this year, more than half the total volume of 2020.
Hong Kong budget
Hong Kong is expected to record the largest budget deficit in 20 years as a result of a series of coronavirus relief measures as well as reduced land sales tax and revenues. KPMG estimates that the financial center will record a deficit of HK $ 282 billion for fiscal year 2020/21, leaving the city’s fiscal reserve at HK $ 878 billion by the end of March, 2021 .
THURSDAY
Buy Bank of Korea bonds
Bank of Korea on Thursday is expected to announce a plan to buy South Korean financial bonds, keeping the key rate unchanged at 0.5%. Economists predict that the central bank will regularly launch a 5 trillion to 10 trillion bond buying program to ensure stability in bond markets.
AirAsia, Qantas results
Asian airlines are expected to show their results for the last quarter of 2020, the annus horribilis for the industry, thanks to COVID-19 and worldwide travel restrictions. Investors are backing for bad news, and will listen for the airlines ’forecast for 2021.
Malaysian silver strap AirAsia Group, which reports Thursday, has already withdrawn from a joint venture in Japan and sold most of its interest in Indian industry. The sector’s largest budget carrier is shifting its focus to digital commerce in a bid to create a “superapp” to grow its revenue streams.
Also reporting on Thursday’s findings is Australia Qantas Airways and On New Zealand, which received government loans in March. Qantas announced in June that it would lay off about 6,000 employees or 20% of its employees as part of a three-year recovery plan.
FRIDAY
Hang Seng Index revision plan
Hang Seng Indexes ’plan to significantly expand the number of companies in the 51-year index will take another step forward on Friday when it releases the results of a market study on its recommendations. The 52-part index seeks to expand to as many as 80 cases, among a deluge of mainland China-listed companies in the region.
The collector sought market feedback on new listings that were rapidly evolving, weighing in at 8% from the current 10%, expanding production in the sector and maintaining special allowance for companies resident in Hong Kong. The reliability of the benchmark on financial stocks was blamed for not meeting last year as stock indices around the world were declining to new heights.
India’s quarterly GDP
India is expected to release full domestic product data for the third fiscal quarter that ended in December. The economy is expected to record small positive growth after two consecutive quarters of pandemic contraction. The Reserve Bank of India, the central bank, has forecast a growth rate of 0.1%, year-on-year, in the fourth December, while the country’s largest lender, Bank State of India, declined by 0.3%.
Yellen will begin at the G-20 ministerial meeting
Finance ministers and central bank regulators from 20 of the world’s largest economies will meet for the first time this year on Friday. The forum will be well acquainted with Janet Yellen, former head of the U.S. Federal Reserve, who will be attending for the first time as finance secretary.
On the agenda: fiscal and monetary policy support for COVID recovery, debt moratoriums, financial inclusion and international taxation.
WEEK
The China Standing Committee will shape the NPC agenda
The main decision-making body of the National People’s Congress of China will meet over the weekend to begin the agenda of the annual legislative session starting on March 5. One item is expected to be the committee’s work report on social and social performance. economic level for 2020 and setting targets for 2021.