The week ahead - earnings season, GDP, CPI, trade,

AirAsia Group is scheduled to announce its third quarter results tomorrow while Sime Darby Properties is expected to release its own report on Wednesday.

Earnings season enters final stretch

A RAFT of corporate earnings is scheduled for release this week as the third-quarter results season reaches a close.

AirAsia Group is scheduled to announce its third quarter results tomorrow while Sime Darby Properties is expected to release its own report on Wednesday.

A list of FBM KLCI heavyweights will file their earnings on Thursday including Tenaga Nasional, Axiata, Genting, Genting Malaysia.

Bursa Malaysia’s financial heavyweights have also yet to announce their earnings, which will be expected over the coming week.

Other companies due to make their third quarter announcements during the week include Malakoff, UOA Development, Telekom Malaysia, Velesto and Westports.

India’s third quarter GDP

INDIA will release its third quarter GDP on Friday, which is expected to show further contraction but at a more benign pace of -8.6% year-on-year (y-o-y) as compared to -23.9% y-o-y in the second quarter, says UOB.

ING forecasts a -12% y-o-y fall going by the rate of Q3 GDP recovery in other Asian economies, although it notes that India’s bounce might not be vigorous as other less-affected regional economies.

Meanwhile, Singapore and Taiwan will announce revised Q3 GDP figures today and Friday, respectively.

ING expects a moderate contraction in Singapore’s growth numbers to -5.4% y-o-y from the 7% y-o-y initial estimate due to strong September manufacturing growth.

Taiwan’s GDP growth, however, is not expected to differ much from the 3.3% initial reading, and will stand along China and Vietnam as one of few Asian countries with positive GDP growth in the last quarter, said the research firm.

October CPI: Malaysia and Singapore

MALAYSIA’s October consumer price index (CPI) will be released on Wednesday, and is expected to show further deflation in the country’s economy.

According to ING Asia senior economist Prakash Sakpal, the inflationary gauge is expected to stand unchanged from September’s negative CPI reading of -1.4% year-on-year (y-o-y).

If the forecast is acurate, it would be a ninth consecutive month of deflation for the country’s economy.

Singapore will also reveal its October CPI figures today. ING concurs with a Bloomberg poll that there will be zero growth while UOB Global Economics and Market Research expects headline inflation to be -1% y-o-y.

The island-state had recorded zero consumer price index growth in September following five months of contraction.

Trade, manufacturing and industrial data

OCTOBER trade and manufacturing data from across the region this week will offer a gauge of the economic growth risk in the region.

These include Taiwan’s industrial production that will be announced today, Thailand’s manufacturing production on Wednesday and Singapore’s manufacturing output on Thursday.

Meanwhile, China’s October industrial profits data on Friday should shed light on the investment recovery coming into the final quarter of the year.

It is left to be seen whether the double-digit profits growth was sustained for another month after the sharp slowdown in September to 10% year-on-year from 19% in the preceding two months.

In South Korea, the country’s central bank will meet on Thursday to decide on its base rate, which analysts say will likely be left on hold.

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