KOSPI

South Korea's Business Sentiment Strengthens in April

The composite business sentiment index in all industries in South Korea increased 0.8 points to 94.9 in April from 94.1 in March, while the outlook for the next month added 0.8 points to 93.9, according to data released by the Bank of Korea on Tuesday.The outlook for May marked the highest level since August 2024.The seasonally adjusted composite business sentiment index for the manufacturing sector added two points to 99.1, while the outlook for the following month also added 2.1 points to 98, the central bank said.For the non-manufacturing sector, the seasonally adjusted composite business sentiment index increased 0.1 points to 92.1, while the outlook for the following month was unchanged at 91.2.Meanwhile, the economic sentiment index, a composite of the business survey and consumer survey indices, went down 2.3 points to 91.7.

South Korean Shares Close at New High on Chip, Power Equipment Gains

South Korean shares closed at a new high on Monday, with the primary index crossing the 6,600 level amid a rally led by chip stocks and power equipment manufacturers.The Korea Composite Stock Price Index or Kospi rose 139.4 points, or 2.2%, to end at 6,615.03. The Kosdaq also increased by 22.34 points, or 1.9%, to close at 1,226.18.Shares of chipmakers such as Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) added over 2% and nearly 6% at market close, while those of Kosdaq-listed Fadu (KOSDAQ:440110) jumped over 19%.Gains were also driven by shares of power equipment manufacturers LS Electric (KRX:010120) and Hyosung Heavy Industries (KRX:298040), which added nearly 13% and 11%, respectively.In corporate news, Fadu posted first-quarter net income of 10.2 billion won, rebounding from a net loss of 12.1 billion won a year earlier, according to a Monday filing with the Korea Exchange.The South Korean chipmaker's sales revenue surged 210% year over year to 59.5 billion won from 19.2 billion won.

Asia Week Ahead: Central Bank Decisions; Inflation Prints; and Trade Data

For the week ahead in Asia, the economic calendar is packed with major data releases, central bank decisions and inflation updates across the region.Monday brings China's first-quarter industrial profits data, as well as Malaysia's producer prices.On Tuesday, markets will turn to the Bank of Japan's interest rate decision, alongside trade figures from Hong Kong and Macao, and India's March production report.Wednesday features Thailand's central bank rate decision and Australia's closely watched quarterly inflation print, while Thursday brings China's official and private PMI readings.On Friday, Japan's Tokyo core inflation reading will be in focus, along with South Korea's April trade data.Here's what to watch in the week ahead.MONDAY, April 27The week kicked off with the release of China's industrial profits data for the first quarter.The total profits of China's industrial enterprises rose 15.5% year on year to 1.696 trillion yuan during the first three months of 2026, with increases seen in the mining, manufacturing, technology, and chemical industries.A drop in profits was witnessed in the utilities industry, as well as the electricity and heat and agricultural industries, data from the National Bureau of Statistics showed.Singapore disclosed its manufacturing output stats for March, highlighting a 10.1% jump in production thanks to strong growth across almost all clusters.Malaysia's producer prices rose in March for the first time in a year, driven largely by a rebound in the mining sector, according to Trading Economics.Producer prices climbed 1.1% year on year, reversing a 3.4% decline in the previous month.Meanwhile, Taiwan's consumer confidence index edged up to 62.47 in April, rising 0.17 points from March.The uptick was driven by improvements in four sub-indicators, with sentiment on employment opportunities posting the largest monthly gain.A pair of reports covering business and consumer confidence was also due in the Philippines.TUESDAY, April 28Markets will turn their attention to an interest rate decision scheduled in Japan.The upcoming decision could be a complicated one for the Bank of Japan as it grapples with intensifying inflation domestically and the uncertainty surrounding the Middle East, ING said in a preview.While markets broadly expect the central bank to maintain rates at 0.75%, ING said it continues to believe there's a chance the Bank of Japan may hike rates.Japanese unemployment data is also due the same day, with observers expecting the jobless rate to hover around the 2.6% mark, unchanged from the prior month, according to a consensus compiled by Trading Economics.Hong Kong will disclose trade stats for March. According to Trading Economics, the city state's trade deficit could narrow to HK$43 billion from the HK$64.2 billion recorded in February.Macao will similarly release balance of trade figures. The city state's trade deficit could narrow to 9.4 billion pataca in March from 9.9 billion pataca a month prior, Trading Economics forecasted.India's industrial production data for March will also be in the news. A consensus compiled by Trading Economics indicated analysts expect India's industrial production growth to slow to a rate of 4.2% from 5.2% in February.India's manufacturing weakened in March as geopolitical tensions in the Middle East, unstable market conditions, and inflationary pressures impacted output, S&P Global said previously. However, conditions appeared to have improved in April, according to the firm's most recent flash purchasing managers' index release.South Korea's business confidence report for April will be due the same day.WEDNESDAY, April 29Thailand's central bank will meet for its interest rate decision.The Bank of Thailand is seen to hold rates steady at 1% amid softening growth and inflationary pressure due to the conflict in the Middle East, the Wall Street Journal reported.Thailand's March Industrial production data is also expected on the same day.Australia's latest inflation print will be in the news, providing markets with an overview of pricing pressure ahead of the Reserve Bank of Australia's May board meeting.Westpac said it expects to see a 4.2% yearly gain in headline inflation for the March quarter.The quarterly data is likely to affirm for the Reserve Bank of Australia that the underlying inflation pressures are evident in the economy before the escalation of the Middle East conflict in late February, ANZ said in a preview.In Singapore, March import and export prices will be expected, as well as producer price inflation data.THURSDAY, April 30China's manufacturing and services sectors will be in focus as the National Bureau of Statistics releases its monthly purchasing managers' index covering manufacturing, non-manufacturing, and general PMI for April.The release will be accompanied by a private reading on China's manufacturing sector from S&P Global.Economists at ING said they expect official data to show activity dipped back into contractionary territory following the expansion witnessed in March.ING forecasts manufacturing PMI falling to 49.9 and the non-manufacturing PMI dipping to 49.8, and said it expects to see pricing pressure continuing to build in the PMI sub-indices.Taiwan will release its first-quarter advance gross domestic product growth rate, with markets looking for signs of whether the island state's economy can continue posting stellar growth due to its global positioning in high-precision semiconductor production.Researchers at ANZ expect Taiwan's first-quarter GDP growth rate to come in at 11.8%, slowing from the 12.7% rise witnessed in the prior quarter, the Wall Street Journal reported.In Australia, the first-quarter import and export prices data is expected. CommBank said it expects export prices to rise 1.2% while import prices to decline 0.6%, both on a quarter-on-quarter basis.Meanwhile, a confidence report due in New Zealand is likely to show a further deterioration in business sentiment due to the ongoing Middle East conflict, CommBank said in a preview.Further trade data is expected in the Philippines, which could see its trade deficit widen to $4.1 billion in March from $3.68 billion in April, according to Trading Economics.Both South Korea and Japan will release industrial production and retail sales data for March.ING said it expects Japan's industrial production to "rebound quite firmly" during the month. The firm expects industrial output to rise 2.2% year on year from the 0.4% rise witnessed in February.Japan will additionally release a consumer confidence report for April, while a similar release covering business confidence will be due in Singapore.Singapore's first-quarter preliminary unemployment rate will also be released on Thursday.Thailand's February retail sales stats will be due.FRIDAY, May 1Japan's closely watched Tokyo core consumer price index for April will capture headlines, offering markets an early indicator of the overall inflation rate in the country."The Tokyo CPI is expected to rise faster in April, reflecting recent energy price hikes, a weak JPY, solid wage growth, and bi-annual price adjustments," ING said in a preview.South Korea announces April trade data.The country's trade surplus could drop marginally to $26 billion from $26.2 billion a month prior, even as exports show a 50% year on year growth due to robust chip shipments, ING said.A consumer confidence report due in New Zealand could show sentiment weakening further in April and over the coming months amid the Middle East conflict, CommBank said in a preview."As the conflict progresses, overall consumer confidence is expected to continue falling," CommBank said.Neighboring Australia will release first-quarter produce price data.On the activity front, S&P Global releases its PMI reports covering manufacturing activity in Australia and Japan.

South Korean Shares Open Higher Despite US-Iran Tension

South Korean shares opened higher on Monday despite the ongoing U.S.-Iran tensions, with no definitive solution to the U.S. blockade of the key Strait of Hormuz and Iran's President Masoud Pezeshkian telling Pakistan PM Shehbaz Sharif that Tehran will not negotiate with the U.S. under siege, threats, or pressure.The benchmark Korea Composite Stock Price Index, or Kospi, gained 0.9%, or 57.97 points, to open at 6,533.60. The Kosdaq gained 9.29 points to open at 1,213.13.Amid the regional tensions, Iranian Foreign Minister Abbas Araghchi will meet Russian President Vladimir Putin in Moscow on Monday, with talks expected to focus on the U.S.-Iran ceasefire, regional tensions, and broader negotiations involving the US and Israel.Mikhail Ulyanov, Russia's envoy to international organisations in Vienna, said Monday that the U.S. must leave behind "blackmailing" and "ultimatums" in its negotiations with Iran if talks are to move forward.Market movers Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) added 1.82% and 5.24% in Monday morning trade.

South Korean Shares Open Slightly Higher on Three-Week Israel-Lebanon Ceasefire Extension

South Korean shares opened slightly higher on Friday, owing to a ceasefire extension of three weeks between Israel and Lebanon. The decision came after talks held between the two parties at the White House on Thursday.The benchmark Korea Composite Stock Price Index, or Kospi, gained marginally to open at 6,496.10. The Kosdaq added 0.2%, or 2.11 points, to open at 1,176.42.The talks marked the first direct diplomatic engagement between Israel and Lebanon in decades, signaling a major breakthrough as the two countries have officially remained at war since 1948.On the Iran front, US President Donald Trump said that he did not want to rush himself when it came to making a deal with the Middle Eastern country. He said he was under no pressure to end the conflict and is focused on making the best possible deal with Iran.Trump claimed the US had total control of the Strait of Hormuz and said access would be allowed once Iran comes to an agreement. He also said that he wants to limit Tehran's oil revenues during the ceasefire.Trump warned that if Iran refuses to negotiate, the US could escalate the situation militarily.

Honda to Exit South Korean Car Market by Year End, Will Retain Motorcycle and After-Sales Services

Honda (TYO:7267) will discontinue automobile sales operations of its South Korean subsidiary, Honda Korea, based in Seoul, at the end of the year, according to a statement on Thursday.The decision came after reviewing shifts in both the global and local automotive markets, as Honda aims to refocus corporate resources on strengthening long-term competitiveness.Even after ending car sales, the company will continue offering after-sales services in South Korea, including vehicle maintenance, parts supply, and warranty support for existing Honda car owners.Meanwhile, Honda Korea will keep its motorcycle business as the core of its operations and plans to further enhance customer experiences and product offerings in that segment.

Tech Rally, US-Iran's Ceasefire Extension Push Kospi to New High

South Korean shares closed at a new high on Thursday, just shying away from touching the 6,500 level, as investor optimism rose after the US and Iran extended their ceasefire indefinitely. In addition, SK Hynix's (KRX:000660) stellar first-quarter earnings also buoyed sentiment.The Korea Composite Stock Price Index or Kospi rose 57.88 points, or 0.9%, to end at 6,475.81. The Kosdaq, however, decreased by 6.81 points, or 0.6%, to close at 1,174.31.Technology stocks such as Samsung Electronics (KRX:005930) and LG Corporation (KRX:003550) also drove gains, as investors focused on their upcoming first-quarter earnings releases. Shares of Samsung Electronics added over 3% while those of LG Corp. added nearly 2% at market close.In economic news, South Korea's real gross domestic product increased 3.6% in the first quarter of 2026 from the same period last year, following a 1.6% annual expansion in the prior quarter, an advance estimate by the Bank of Korea indicated on Thursday.According to a median forecast of economists polled by Reuters, the country's real GDP was expected to grow 2.7%.On a quarterly basis, the economy grew by 1.7% in Q1, which also surpassed the Reuters estimate of 1%.Meanwhile, gross domestic income increased 12.3% on an on-year basis and 7.5% on an on-quarter basis in Q1In corporate news, Tovis (KOSDAQ:051360) posted first-quarter net income attributable to shareholders of 16.05 billion won, up 77% from 9.07 billion won a year earlier, according to a Thursday filing with the Korea Exchange.The South Korean display models manufacturer's sales jumped 10.4% year over year to 169.8 billion won from 153.8 billion won.Shares of Tovis rose more than 4% at market close.

South Korea's Economy Grows in Q1 Amid Rising Chip Demand

South Korea's first-quarter economy expanded amid the growing popularity of artificial intelligence and global chips.The gross domestic product rose 1.7% from the previous quarter, the Bank of Korea said Thursday, beating Reuters' estimate of a 1% growth.The increase in GDP can be mainly attributed to exports of information technology (IT) products, including semiconductors, which jumped 5.1%. The imports of these items were up 3% due to increases in machinery and equipment and in motor vehicles.Major Korean chipmakers have been making huge profits due to the growing demand for AI. SK Hynix (KRX:000660) recorded a 398% year-on-year surge in its first-quarter net income attributable to shareholders to 40.3 trillion won. The company's sales during the period soared 198% year over year to 52.6 trillion won.Meanwhile, facilities investment climbed 4.8% amid increases in machinery and transportation equipment, the BoK said.Construction investment inched 2.8% higher, while government consumption rose by 0.1%.Min Joo Kang, ING's senior economist for South Korea and Japan, said chip exports are expected to gain momentum over the coming months, offsetting the disruptions caused by the Middle East conflict. Total exports climbed 50% year on year, with chip exports soaring 182%, she said, citing April export data. However, South Korea's economy is still facing risks such as higher inflation caused by oil price hikes and energy disruptions."The Korean government implemented a temporary export ban on Naphtha, and Korean companies increased oil and gas imports from outside the Middle East," Kang said. "Despite these measures, manufacturing activity still cannot be sustained at full capacity."Kang said chip exports may begin to slow down in the second half of the year.Krystal Tan, ANZ's Asia economist, also believes the semiconductor industry could help cushion the shock brought by the war in Iran, but growth may also weaken in the coming quarters as the impact of the conflict starts to sink in and the imbalances between supply and demand remain."Importantly, large-scale new memory manufacturing capacity is only expected to begin materializing from the second half of 2027, suggesting the current cycle still has room to run," Tan said. "Continued strength in semiconductor exports would in turn provide Korea with a degree of insulation from external shocks that many other energy-importing economies lack,"

South Korean Shares Open at New High on US-Iran Ceasefire Extension

South Korean shares opened at a fresh high on Thursday, as investor optimism rose after the U.S.-Iran ceasefire was extended indefinitely, while SK Hynix's (KRX:000660) stellar first-quarter earnings buoyed sentiment.The benchmark Korea Composite Stock Price Index, or Kospi, gained 1.1%, or 70.9 points, to open at 6,488.83. The Kosdaq, on the other hand, declined marginally, opening at 1,189.10.Shares of SK Hynix were up nearly 1% in Thursday morning trade after the company posted Q1 net income attributable to shareholders of 40.330 trillion won, up 398% from 8.107 trillion won a year earlier.The South Korean chipmaker's sales jumped 198% year over year to 52.576 trillion won from 17.639 trillion won.

South Korea's Consumer Sentiment Weakens in April

South Korea's composite consumer sentiment index fell to 99.2 in April from 107 in March, according to data released by the Bank of Korea on Thursday.A reading above 100 indicates an improvement in outlook, while a reading under 100 suggests pessimism.Sentiment toward current living standards was down three points to 91, while sentiment on the future outlook shed five points to 92.The outlook for future household income was down three points to 98, while the sentiment for future household spending also shed three points to 108.Optimism regarding current local economic conditions declined by 18 points to 68, and the reading for future domestic economic conditions was 10 points lower at 79.

South Korea's Real GDP Rises 3.6% in Q1, Tops Estimates

South Korea's real gross domestic product increased 3.6% in the first quarter of 2026 from the same period last year, following a 1.6% annual expansion in the prior quarter, an advance estimate by the Bank of Korea indicated on Thursday.According to a median forecast of economists polled by Reuters, the country's real GDP was expected to grow 2.7%.On a quarterly basis, the economy grew by 1.7% in Q1, which also surpassed the Reuters estimate of 1%.Meanwhile, gross domestic income increased 12.3% on an on-year basis and 7.5% on an on-quarter basis in Q1, the release said.

South Korea's GDP Growth Accelerates to 3.6% in Q1

South Korea's Kospi Closes at Fresh High, Crosses 6,400 Points as Investors Eye Q1 Earnings

South Korean shares closed higher on Wednesday, with the country's primary index Kospi closing at a fresh high of over 6,400 points. Investors eyed the upcoming first-quarter corporate earnings despite the uncertainty over US-Iran talks.The Korea Composite Stock Price Index or Kospi rose 29.46 points, or 0.5%, to end at 6,417.93. The Kosdaq also increased by 2.09 points, or 0.2%, to close at 1,181.12.Shares had opened nearly flat in the day after US President Donald Trump announced an indefinite extension to the ceasefire until Iran came up with a unified proposal on a possible agreement.The White House said JD Vance has not yet left for Pakistan and remains in Washington for further policy meetings, Reuters reported. Meanwhile, Iran said it would engage in talks only after the US ends its naval blockade.Iran's envoy Amir Saeid Iravani, in an interview with Rudlaw News Network at the UN HQ, said talks with the US depend on Washington ending alleged ceasefire violations, including a naval blockade.Iravani added that negotiations could resume in Istanbul once the blockade is lifted, stressing Iran is open to dialogue but also prepared for escalation if necessary.In economic news, producer prices in South Korea increased 4.1% in March from a year earlier, the fastest increase since ​February 2023, according to preliminary data from the Bank of Korea on Wednesday.The year-on-year gains were driven by higher costs across all categories except electric power, gas, water and waste, which declined 1.1% in the month.Producer prices across agricultural, forestry & marine products, manufacturing, and services increased 0.5%, 5.9%, and 3.1%, respectively.In corporate news, HD Korea Shipbuilding & Offshore Engineering (KRX:009540) secured an order for an ice-breaking vessel from the Swedish Maritime Administration.The deal is valued at 514.8 billion won. The shipbuilder will deliver the vessel by Aug. 28, 2029, according to a Wednesday filing with the Korean Exchange.Shares of HD Korea Shipbuilding jumped more than 8% at market close.

South Korea's Producer Prices Rise 4.1% in March

Producer prices in South Korea increased 4.1% in March from a year earlier, the fastest increase since ​February 2023, according to preliminary data from the Bank of Korea on Wednesday.The year-on-year gains were driven by higher costs across all categories except electric power, gas, water and waste, which declined 1.1% in the month.Producer prices across agricultural, forestry & marine products, manufacturing, and services increased 0.5%, 5.9%, and 3.1%, respectively, the data showed.On a month-on-month basis, producer prices increased 1.6% in March, according to the data.

South Korean Shares Open Flat Amid Uncertain US-Iran Talks, Ceasefire Extension

South Korean shares opened nearly flat on Wednesday after the US and Iran did not confirm a second round of talks anytime soon.The benchmark Korea Composite Stock Price Index, or Kospi, marginally gained to open at 6,387.57. The Kosdaq, on the other hand, shed 0.18% to begin trading at 1,176.83.US President Donald Trump announced an extension to the ceasefire until Iran came up with a unified proposal on a possible agreement.The White House on Tuesday said that US Vice President JD Vance has not yet departed for Pakistan and remains in Washington for additional policy meetings, according to Reuters.Tehran has not yet given any formal confirmation of joining negotiations with the US in Islamabad.

Kospi Hits All-Time High on Diplomatic Hopes Resurgence

South Korea's primary stock market index Kospi closed at a new high on Tuesday as investors were hopeful about the possibility of a second round of negotiations between the US and Iran to end the conflict in the Middle East.The Korea Composite Stock Price Index or Kospi rose 169.38 points, or 2.7%, to end at 6,388.47. The Kosdaq also increased by 4.18 points, or 0.4%, to close at 1,179.03.The Bank of Korea appointed Hyun Song Shin as its new governor on Tuesday, who took over the top financial role from Rhee Chang-yong, according to a Bank of Korea press release.Hyun will lead the central bank's monetary policy and board over the next four years. He will ​chair his first policy meeting on May 28.In corporate news, SGC Energy (KRX:005090) posted first-quarter net income attributable to shareholders of 4.5 billion won, reversing the attributable net loss of 2.8 billion won a year earlier, according to a Tuesday filing with the Korea Exchange.Sales of the South Korean energy generation company were down 1% year over year to 612 billion won from 618.5 billion won.Shares of SGC Energy rose nearly 4% at market close.In other news, GMB Korea (KRX:013870) signed a contract to supply electric water pumps to Hyundai Motor (KRX:005380) and Kia (KRX:000270), according to a Tuesday filing with the Korea Exchange.The contract, valued at 128.9 billion won, is valid till Dec. 31, 2034.Shares of the motor vehicle parts and accessories company rose 2% at market close, while those of Hyundai Motor added nearly 4% and Kia gained nearly 2%.

Bank of Korea Appoints New Governor

The Bank of Korea appointed Hyun Song Shin as its new governor on Tuesday, who took over the top financial role from Rhee Chang-yong, according to a Bank of Korea press release.Hyun will lead the central bank's monetary policy and board over the next four years. He will ​chair his first policy meeting on May 28.In his inaugural address, Hyun said that the country must strive for "price stability and financial stability through cautious and flexible monetary ​policy operations," amid increased uncertainty, high inflation, and the supply shock caused ​by the Middle East war.Hyun also said that he would focus on the internationalization of the Korean won, as it was crucial to building a monetaryinfrastructure.The central bank will pursue 24-hour foreign exchange market operations and establish offshore won settlement systems. These steps will improve the accessibility and resilience of foreign exchange transactions, making them consistent with international standards. In addition, these efforts will also support won-denominated capital and trade transactions.

South Korean Shares Open Higher on Hopes of Iran Talks

South Korean shares opened sharply higher on Tuesday as signs that Iran may participate in the peace talks with the U.S. emerged.The benchmark Korea Composite Stock Price Index, or Kospi, rose 1.34%, or added 83.45 points, to open at 6,302.54. The Kosdaq also gained slightly to begin trading at 1,186.23.Iran is planning to send a delegation to the next stage of discussions with the U.S., according to various media reports, citing unnamed sources.However, tensions remained high after U.S. President Donald Trump said Monday that the naval blockade of Iranian ports will continue until a deal has been struck with Tehran. The naval blockade, which began a week ago, recently seized an Iranian-flagged cargo ship near the Strait of Hormuz.

Asia Week Ahead: Inflation; Trade Data; and Central Bank Decisions

The week ahead in Asia is packed with releases covering trade, inflation, and central bank updates which could offer markets fresh clues on how the region is navigating the conflict in the Middle East.Monday begins with trade data from New Zealand and Malaysia, as well as the release of China's loan prime rates.Attention then turns Tuesday to New Zealand's first-quarter inflation report, followed by Bank Indonesia's interest rate decision and Japan's March trade figures on Wednesday.Thursday brings another key central bank decision from the Philippines, as well as first-quarter GDP data from South Korea. Flash PMI reports from India, Japan and Australia will also be closely watched.Friday rounds off the week with Japan's March inflation data, as well as Thailand's trade report.Here's what to watch in the week ahead.MONDAY, April 20The week kicked off with the release of trade data from New Zealand and Malaysia.New Zealand recorded a goods trade surplus of NZ$698 million in March, compared with a deficit of NZ$364.7 million in February.Goods exports rose 7.3% to NZ$7.94 billion, while imports rose 9.6% to NZ$7.25 billion.Malaysia's total trade in goods rose 9.3% annually to 273 billion ringgit in March, driven by growth in both exports and imports.Exports increased 8.3% year on year to 148.8 billion ringgit, while imports rose 10.4% to 124.2 billion ringgit.China kept its loan prime rate or LPR, which is the benchmark for new loans, unchanged after posting a better-than-expected economy amid the Middle East conflict.The People's Bank of China held the one-year LPR at 3% and the LPR of five years or more at 3.5%.Economists at ING said the central bank may keep the rates on hold until conditions warrant monetary policy support. The People's Bank of China has maintained the one-year and five-year LPR since May 2025.TUESDAY, April 21New Zealand is due to report its first quarter inflation data.The country's consumer price index is anticipated to rise by 0.8% quarter on quarter and 2.9% year on year, BofA Securities estimated, slightly below the Reserve Bank of New Zealand's revised April forecast of 3%.Headline inflation is driven by soaring fuel prices in March due to the Middle East conflict, with petrol prices surging nearly 19% and diesel by nearly 43% month on month, according to the firm's research.Taiwan will release its export orders data. According to ING, the city state could see a rebound in orders to around 48.1% year on year from 23.8% previously.WEDNESDAY, April 22Indonesia's central bank will meet for its interest rate decision.ING said it expects Bank Indonesia to keep its policy rate at 4.75% despite inflation running above the central bank's 2.5% target. At 3.5%, inflation is still well below the roughly 5% peak in 2022 that triggered aggressive rate hikes, and with growth softening, the central bank is likely to remain on hold, according to ING.Japan's March trade figures will also be in the news. ING said it expects strong Japanese export growth in March thanks to demand for semiconductors and IT products, pushing the country's trade surplus to 1 trillion yen from 44.3 billion yen in the month prior.Elsewhere, South Korea reports producer price inflation data for March.THURSDAY, April 23Another interest rate decision, this time in the Philippines.The island nation's economy is one of the most susceptible to oil shocks in the region, and the Bangko Sentral ng Pilipinas' upcoming decision is "likely to be close" amid the current geopolitical situation in the Middle East, ING said in a preview.Still, the firm said its base case is for the central bank to maintain rates at 4.25%.South Korea's advance estimates for GDP growth for the first quarter will also capture headlines.Most analysts expect a rebound in growth after the economy contracted in the previous quarter, the Wall Street Journal reported.Barclays economist Bumki Son said the economy is likely to show a growth of 1.2% on a quarterly basis and 3% on a yearly basis thanks to stronger exports and a recovery in private consumption and facility investment, the WSJ reported.A consumer confidence report is also due in South Korea.Hong Kong and Singapore will announce Inflation data for March.Singapore's March print will capture the initial impact of the energy shock from the Middle East conflict, the WSJ reported, citing DBS economists. According to Trading Economics, the rate of price increase could quick to 1.5% year on year from the 1.2% witnessed in February.In Hong Kong, Trading Economics expects inflation to rise marginally to 1.8% on the year from the 1.7% recorded in February.Hong Kong will also release unemployment data the same day.A number of macro releases are expected in Taiwan, covering March retail sales, industrial production, and unemployment.Similar to its export orders, ING said it expects Taiwan's industrial production to rebound to 25.7% year on year from the 17.8% growth recorded in the month prior.On the activity front, S&P Global releases its flash PMI reports covering manufacturing, services, and composite activity in India, Japan, and Australia.FRIDAY, April 24Markets will await March inflation data from Japan.Core inflation, which excludes fresh food but includes energy, is expected to cool to a rate of 1.8% year on year from the 2% witnessed in February, according to a consensus compiled by Trading Economics.According to ING, efforts by Japan's government to stabilize gasoline prices should keep both headline and core inflation rates below 2%.March inflation data will also be due in Macao, which also reports unemployment rate the same day.Trading Economics estimates that March inflation could clock in at 1.2% year on year, modestly higher than the 1.16% witnessed in February.Unemployment, meanwhile, is expected to rise to 1.8% from 1.7% in the month prior, Trading Economics estimated.In Thailand, trade figures for March will be due.Trading Economics expects the country the post a trade deficit of $2 billion for the month, a reversal from the $2 billion surplus in February.A pair of reports covering business and consumer confidence in the first quarter will be due in the Philippines.A business confidence report covering the second quarter will similarly be made available in Hong Kong.

South Korean Shares Open Flat as US-Iran Tensions Continue

South Korean shares opened flat with a positive bias on Monday as tensions between the U.S. and Iran continue.The benchmark Korea Composite Stock Price Index, or Kospi, marginally rose to open at 6,213.92. The Kosdaq also gained slightly to begin trading at 1,167.10.Iran's military command, Khatam al-Anbiya, on Monday accused the U.S. of violating a two-week ceasefire after the U.S. Navy destroyer USS Spruance intercepted an Iranian-flagged cargo vessel called Touska near the Strait of Hormuz.In a post on Truth Social on Sunday, U.S. President Donald Trump said the vessel ignored warnings and was seized by U.S. Marines, adding that the vessel was under US Treasury sanctions over alleged past "illegal activity."