Key facts
- Vietnam's National Assembly is concluding an extraordinary session focused on energy policy, including potential approval of its first nuclear power plant project.
- Chinese oil and gas companies, including Sinopec, CNOOC, and PetroChina, are scheduled to release their first-half earnings reports.
- China's crude oil throughput in July decreased by 15.8% compared to the previous year.
- Bank of Japan Deputy Governor Ryozo Himino is set to deliver a speech, which markets will scrutinize for policy outlook clues.
- The Bangko Sentral ng Pilipinas will hold its fourth monetary policy meeting of the year.
Vietnam's National Assembly is set to conclude an extraordinary session that began on August 3, with a strong emphasis on energy policy. Lawmakers are expected to approve an agreement for the country's first nuclear power plant project and discuss special mechanisms for wind and solar power projects. The session will also address proposals for establishing new cities and special policies for APEC 2027.
Chinese oil and gas companies, including Sinopec, China National Offshore Oil Corporation, and PetroChina, are scheduled to report their first-half earnings. These reports will be closely watched for market assessments amid a period of collapsed oil imports and a significant year-on-year decrease in China's crude oil throughput in July. The U.S.-Israeli war on Iran has influenced global oil prices during this period.
In monetary policy news, the Bank of Thailand is expected to maintain its policy rate at 1.0% despite economic slowdowns linked to the Iran war. Meanwhile, Bank of Japan Deputy Governor Ryozo Himino is scheduled to deliver a speech, with markets anticipating any signals regarding potential interest rate hikes due to inflation risks. The Bangko Sentral ng Pilipinas will also convene for its fourth policy meeting, facing global economic pressures.