For the week ahead in Asia, markets will navigate a dense slate of economic data releases and central bank decisions, with a particular focus on inflation trends and GDP.
The week begins with a heavy batch of data from China, including fourth-quarter GDP, alongside machinery orders and industrial output data from Japan.
On Tuesday, attention turns to inflation and trade figures from Malaysia, the announcement of China's loan prime rates, and a series of activity and labor market indicators across multiple regions.
Midweek brings an interest rate decision from Bank Indonesia, followed by policy and macro updates on Thursday from Malaysia, Japan, South Korea, and Australia.
Friday rounds out the week with a Bank of Japan policy meeting, inflation data from New Zealand, trade figures from Thailand, and a broad set of PMI and activity indicators across Asia.
Here's a day-by-day look at what's on the calendar in Asia this week.
MONDAY, Jan. 19
The week kicked off with the release of a flurry of closely watched data from China.
The world's second-largest economy released its fourth-quarter GDP growth rate, industrial production stats, retail sales figures, as well as labor data, among other things.
China's gross domestic product rose 4.5% in the fourth quarter of 2025, easing from the 4.8% increase in the prior quarter and surpassing analysts' 4.4% forecast in a Reuters poll.
Urban unemployment rate in China was at 5.1% in December 2025, unchanged from the previous two months, but slightly lower than the 2025 average of 5.2%.
New home prices in China declined further by 0.4% month-on-month in December 2025, and 2.7% on an annual basis, data from the National Bureau of Statistics showed.
Meanwhile, Chinese total retail sales of consumer goods grew 0.9% year over year to 4.514 trillion yuan in December 2025. Excluding automobiles, retail sales went up 1.7% to 3.9655 trillion yuan.
Japan's machinery orders rose 8.5% in November 2025 from the previous month on a seasonally adjusted basis, government data showed Monday.
industrial production fell 2.7% on a month-on-month basis, with output down 2.2% from a year earlier, revised government data showed.
Over in Australia, the Melbourne Institute said its monthly inflation gauge rose in December 2025, with annual inflation reaching 3.5%, driven mainly by higher prices for recreation and culture.
TUESDAY, Jan. 20
Malaysia will disclose its December inflation figures Tuesday, with Trading Economics forecasting headline inflation to remain stable at 1.4% on a yearly basis.
Meanwhile, trade figures, due the same day, should show a drop in the country's trade surplus to 5 billion Malaysian ringgit from 6.1 billion ringgit in November, Trading Economics estimated.
According to Barclays, December's export growth was likely damped by unfavorable base effects, The Wall Street Journal reported.
China announces its one-year and five-year loan prime rates. ING said it expects no change to the current rates of 3% and 3.5%, respectively.
Taiwan's December export orders are due, which observers will monitor to gauge any signs of a slowdown in the current export-driven growth, ING said in a preview. The bank is expecting a 34.4% year-over-year rise in shipments for the month.
In South Korea, markets will be awaiting produce price index data for December, while unemployment data from Hong Kong will be made available the same day.
Lastly, BusinessNZ's composite and services readings for December are expected in New Zealand.
WEDNESDAY, Jan. 21
Markets will turn their attention towards Indonesia where an interest rate decision is expected.
Bank Indonesia is widely expected to leave rates unchanged at 4.75% as the local currency remains under pressure due to a number of factors, including weaker trade performance and fiscal concerns, ING said in a preview.
"While our base case assumes another 50 bps of cuts this cycle to support growth, risks remain skewed toward a delay, as IDR remains under pressure," ING said.
THURSDAY, Jan. 22
Thursday brings another interest rate decision in the region, this time in Malaysia.
Bank Negara is expected to keep its policy rate unchanged at 2.75% given the economy's resilient growth and mild inflation, the Wall Street Journal reported citing ANZ economist Jennifer Kusuma.
Japan's December trade figures will be in focus, with analysts expecting the country's trade surplus to rise to 357 billion yen from the 322.2 billion yen recorded in the month prior, according to a consensus compiled by Trading Economics.
According to ING, export growth in December is expected to be driven by the semiconductor and automotive sectors.
Meanwhile, South Korea's advance GDP growth print for the fourth quarter should show a slowing down of the economy, ING said. The bank said it expects growth to decelerate to 0.4% quarter-on-quarter on a seasonally adjusted basis from the 1.3% gain witnessed in the third quarter.
In Australia, markets will await December labor data for signs on future policy rate decisions, The Wall Street Journal reported.
While the Reserve Bank of Australia has ruled out further interest-rate cuts, expectations of unemployment remaining low at 4.3% could strengthen the case for interest-rate rises as early as next month, according to the Wall Street Journal.
Hong Kong releases its December inflation figures, while Taiwan announces the month's unemployment rate the same day.
FRIDAY, Jan. 23
Japan will dominate headlines as the nation's central bank meets for its interest rate decision.
Most economists polled by Reuters said the BOJ will hold rates steady in January and March at 0.75%, with 76% expecting the benchmark to reach at least 1% by the end of September, after a quarter-point increase in December.
The central bank is eventually expected to raise rates gradually toward a median terminal level of 1.5%, though policy remains far looser than that of global peers.
Japan will also be in the news for its December inflation rate. ING said it expects the December consumer price index to moderate to 2% year-on-year from the 2.9% witnessed a month earlier.
Markets will also be keeping an eye out for New Zealand's fourth-quarter inflation figures. According to Westpac, prices should have increased 3% year-on-year during the quarter.
"December's lift in consumer prices is mainly due to higher prices for petrol, as well as seasonal increases in travel and accommodation costs. Balanced against those increases has been a seasonal fall in food prices," Westpac said in a preview note.
Other inflation prints will be due in Macao and Singapore.
Thailand will release its December trade figures, with Trading Economics forecasting a surplus of $100 million. Thailand posted a trade deficit of $2.73 billion in November.
On the activity front, S&P Global releases flash PMI readings covering manufacturing, services, and composite readings for India, Japan, and Australia.
Taiwan's December industrial production figures will be due. ING said it expects to see a slight moderation in growth to 12% year-on-year from the 16.4% annual rise seen in November.
Taiwan will also release the month's retail sales figures the same day.
Meanwhile, Hong Kong's first-quarter business confidence report and South Korea's consumer confidence report for January will be due the same day.
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