Key facts
- The World AI Conference (WAIC) in Shanghai will showcase China's AI advancements.
- South Korea's central bank is expected to hike interest rates due to inflation and strong growth.
- China is set to release key economic data, including trade figures and GDP growth.
- TSMC, a major chip manufacturer, will report its second-quarter earnings.
- Several major Indian banks are scheduled to release their April-June quarter earnings.
This week's economic calendar for Asia is packed with significant events, including the World Artificial Intelligence Conference (WAIC) in Shanghai, a crucial monetary policy meeting in South Korea, and closely watched economic data releases from China. The WAIC, in its ninth year, aims to highlight China's advancements in artificial intelligence, a sector where its low-cost models are gaining global traction. This follows a UN meeting on AI governance that underscored differing approaches between the U.S. and China.
South Korea's central bank is anticipated to begin a cycle of interest rate hikes. This move is expected due to inflation remaining above the Bank of Korea's target and robust economic growth, largely driven by the semiconductor industry. The policy meeting occurs amidst a period of weakness for the South Korean won.
China will release significant economic statistics, starting with trade data on Tuesday and followed by its gross domestic product growth on Wednesday. A Nikkei survey of analysts projects China's economy to have expanded by 4.6% year-on-year in the second quarter, a slowdown from the 5% growth recorded in the first quarter.
Other notable events include the Nikkei Asia Forum APAC 2026 in Bangkok, which will convene regional political and business leaders to discuss critical topics such as energy, mobility, and AI. Speakers at the forum include Thai Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas, Sony Group Executive Chairman Kenichiro Yoshida, and Siam Cement Group President and CEO Thammasak Sethaudom.
Taiwan Semiconductor Manufacturing Co. (TSMC), a vital partner for global chip developers like Nvidia and Apple, is set to report its second-quarter earnings. Investors will be closely monitoring TSMC's outlook on demand amid ongoing discussions about the sustainability of the AI investment boom.
Additionally, several major Indian banks, including HDFC Bank, ICICI Bank, and Kotak Mahindra Bank, are scheduled to announce their earnings for the April-June quarter. These banks have shown improved net profits and asset quality in recent periods. The earnings reports come as leadership changes are occurring at some of these institutions, with Rajiv Kumar appointed as the new part-time non-executive chairman of HDFC Bank and Ashok Vaswani announcing his departure from Kotak Mahindra Bank at year-end.