BYD’s EV debut in Japan, Samsung results, ASEAN foreign ministers meeting

Welcome to Your Week in Asia.

Business is back following the Lunar New Year holiday in large parts of Asia. This week, the region’s best-known companies — including Samsung Electronics and Sony Group — are scheduled to announce earnings for the October-December quarter as businesses grapple with inflation and the slowing global economy.

On Tuesday, Chinese automaker BYD will debut its EV in Japan to challenge Toyota and other giants. BYD already has a presence in India and is looking to expand in two major Asian markets.

Wednesday marks the second anniversary of the Myanmar military coup on Feb. 1, 2021. The situation in Myanmar, a member of the Association of Southeast Asian Nations, is expected to be high on the agenda at the bloc’s foreign ministers meeting later in the week.

MONDAY

NATO secretary-general visits South Korea

NATO Secretary-General Jens Stoltenberg visits South Korea from Sunday to Monday. In Seoul, he will meet with senior officials including Foreign Minister Park Jin and Minister of National Defense Lee Jong-sup. Stoltenberg will then head to Japan.

Turkey’s opposition policy for May elections

A coalition of six opposition parties in Turkey, known as the “Table of Six,” plans to announce a common policy platform for their yet-to-be-named presidential candidate in the upcoming May 14 twin presidential and parliament elections. 

Earnings: Oriental Land, Sumitomo Mitsui Financial Group

TUESDAY

BYD starts selling EVs in Japan

China’s BYD will start selling its electric vehicle models in Japan, challenging Toyota, Honda and other Japanese makers in the world’s fourth-largest auto market. The Chinese maker’s flagship model, the midsize sport utility vehicle Atto 3, will sell for 4 million yen ($30,000) — less than EVs from rivals such as Nissan and Tesla.

China PMI

China releases purchasing managers’ indexes for January, giving a glimpse into performance in the manufacturing and services sectors on the back of a seven-day Lunar New Year holiday. This is the first release of official PMI data since the easing of border control measures in early January.

IMF economic outlook

The International Monetary Fund releases an update to its World Economic Outlook, which will reveal its latest global growth projections. In the organization’s previous update in October, the IMF downgraded its 2023 GDP growth projection to 2.7% from 2.9%.

South Korea-U.S. defense ministers meeting

U.S. Defense Secretary Lloyd Austin meets South Korean counterpart Lee Jong-sup in Seoul to discuss military cooperation and Washington’s commitment to South Korea. The meeting comes amid North Korea strengthening its nuclear missile program that targets South Korea, Japan and the U.S. Austin and Lee will host a joint news conference after their meeting to explain security issues regarding the Korean Peninsula and the rest of the region.

Earnings: Samsung Electronics

WEDNESDAY

India budget

The government of Prime Minister Narendra Modi presents its final full-year budget ahead of India’s 2024 general elections, facing the tough task of striking a balance between populist measures and fiscal prudence amid a global economic slowdown and uncertainties owing to Russia’s war in Ukraine.

Two years after Myanmar coup

Feb. 1 marks the second anniversary of the Myanmar military ousting the civilian government led by Aung San Suu Kyi. As the state of emergency expires, junta leader Senior General Min Aung Hlaing is expected to deliver a speech clarifying whether the regime will hold a planned election by August, or postpone it and just hold onto power.

GDP: Hong Kong

Earnings: SK Hynix

THURSDAY

Earnings: Sony Group, ANA Holdings, Japan Airlines, Keppel

FRIDAY

ASEAN foreign ministers meeting

Indonesia, this year’s chair of the Association of Southeast Asian Nations, will host the bloc’s first foreign ministers meeting this year in Jakarta from Friday to Saturday. Diplomats are expected to discuss the situation in Myanmar. East Timor will send its foreign minister to the meeting for the first time. In November, ASEAN leaders agreed “in principle” to admit East Timor as the group’s 11th member while granting observer status.

Earnings: Naver, Mitsubishi Corp., Mitsui & Co., Itochu

WEEKEND

Sapporo Snow Festival

The famous Sapporo Snow Festival in Hokkaido will take place for the first time after a two-year hiatus due to COVID. The event, which features snow and ice sculptures and runs from Feb. 4 through Feb. 11, will likely draw tourists from the rest of Asia as Japan gears up for tourism recovery.