Philippine Stock Exchange Index (PSEi)

Philippines' Production Value Index, Net Sales Index Rise in March

The Philippines' value of production index (VaPI) for manufacturing rose 10.5% annually in March, faster than the 4.5% increase in the month prior, data from the Philippine Statistics Authority showed on Wednesday.In March 2025, the index had posted a 0.1% annual increase.Meanwhile, the volume of production index rose 7.8% in March, accelerating from a 3.1% increase in the month prior and reversing the 0.6% decline a year earlier.The country's production index measures real output in the manufacturing sector.The value of the net sales index for manufacturing grew 4.3% year on year in March, faster than the 1.9% annual growth in the preceding month.The volume of net sales index edged up 1.8% year on year in March, versus a 0.5% annual rise in the month prior, the data showed.

Philippines' Jobless Rate Slows to 5% in March

The Philippines' unemployment rate eased to 5.0% in March, from 5.1% a month earlier, according to data from the Philippine Statistics Authority released on Wednesday.The latest reading, however, is higher than the 3.9% recorded a year earlier.The number of unemployed persons in March stood at 2.58 million, down from 2.66 million in February but higher than 1.93 million in March 2025, the PSA said.Meanwhile, the country's employment rate was 95% in March, higher than 94.9% in February but below 96.1% a year earlier, the data showed.

Philippines' Unemployment Rate Eases to 5.0% in March

ASEAN Manufacturing Growth Slows to Nine-Month Low in April, S&P Global Says

ASEAN's manufacturing sector expanded at a slower pace in April, with growth easing to a nine-month low as price pressures intensified, according to data released by S&P Global on Tuesday.The S&P Global ASEAN Manufacturing Purchasing Managers' Index fell to 50.7 in April from 51.8 in March, marking the weakest reading since July but extending the current expansion streak to nine months.New order growth slowed to an eight-month low, while production growth eased further and moved close to stagnation. New export orders declined for a second straight month at the fastest pace since last July.Firms cut employment for the first time in eight months, while purchasing activity increased.On the price front, input cost inflation surged to its highest level since March 2022, while output prices rose at the fastest pace in 49 months, reflecting stronger cost pass-through by firms.Despite challenges and weak historical levels, business confidence stayed positive in April, with manufacturers expecting production to grow over the next year, the report said.

Philippines' Inflation Jumps 7.2% in April

The Philippines' inflation in April grew in its fastest pace in three years as the Middle East conflict weighed heavily on the price of basic commodities, especially crude oil.The headline consumer price index jumped 7.2% year on year, according to data published by the Philippine Statistics Authority on Tuesday. CPI grew 4.1% in March and 1.4% in April 2025.The current CPI beat estimates of between 5.6% and 6.4% from analysts surveyed by Bloomberg and from the country's central bank, the Bangko Sentral ng Pilipinas. ING's forecast of a 5% CPI growth was not close enough to the current figures.The inflation hike was attributed to the price of oil spiking amid the Middle East conflict, as well as a rise food, energy and transportation.The PSA said the transport index jumped 21.4% from 9.9% in March, while utilities, housing and other fuels climbed month on month to 8.2% from 4.7%. The food and non-alcoholic beverages increased 6% from 2.9%.Arsenio Balisacan, the secretary of the Department of Economy, Planning, and Development, said the Department of Energy is looking for alternative energy sources to ensure a stable supple of fuel amid the war in Iran, the Philippines News Agency said."Amid the Middle East conflict disrupting fuel supply chains, the government is intensifying targeted interventions, particularly to temper upward price pressures on food, energy, and transport, while ensuring the continued stability of domestic supply," Balisacan said.Analysts expect that the BSP will hike key rates to catch up with the high inflation. Benchmark rates were increased by a quarter point to 4.5% in April.Bank of the Philippine Islands economist Emilio Neri Jr. said the central bank may raise rates by over the usual 25 basis points. Meanwhile, Rizal Commercial Banking Corp's chief economist, Michael Ricafort, said the BSP may be forced to increase rates by 50 basis points, according to a Bloomberg News report.The BSP is set to meet in June, the report said.

Philippines' Headline Inflation Quickens to 7.2% in April

The Philippines' headline inflation accelerated to 7.2% in April from 4.1% in March, according to data from the Philippine Statistics Authority on Tuesday.Food inflation rose to 6.1% in April from 2.7% in the previous month, the PSA said.Core inflation, which excludes selected food and energy items, increased to 3.9% in April from 3.2% in March, the data showed.

Philippines' Headline Inflation Accelerates to 7.2% in April; Core Inflation Quickens to 3.9%

Philippine Manufacturing Activity Contracts on Middle East War Impact

Philippine manufacturing turned contractionary in April as the war in the Middle East reduced buying activity, new orders, and staffing numbers.S&P Global's Manufacturing Purchasing Managers' Index for the Philippines posted 48.3 in April compared with an expansion of 51.3 in March.A reading of above 50 denotes expansion, while a reading below 50 means a contraction.The indicator fell to negative territory for the first time since November due to a decline in new orders.New export orders plunged to their steepest since the middle of 2020 amid closures of trade routes, which caused shipping halts, causing consumers to hesitate, S&P said.Deteriorating export market demand also dragged down total new sales, S&P Global Market Intelligence economist Maryam Baluch said."The decline in total new sales led Filipino manufacturers to see a stagnation in production levels in April," the debt watcher said in its report.Exporters have also reduced their working days to as short as three days per week from six on a shortage orders in the garment, food, handicrafts and furniture sectors, The Philippine Star reported April 16, citing a survey by the Philippine Exporters Confederation.Staffing levels slipped due to "modest" job cuts during the month, according to S&P.Philippine manufacturers have turned to inventory to keep up with production requirements amid a decline in new orders and an increase in input and shipping prices, S&P said.Despite the shortfalls, business confidence rose to a 17-month high as investors are bullish about a growing client base and improvements in underlying demand trends, the debt watcher said.

Asia Week Ahead: PMI Reports; Central Bank Decisions; and Inflation Prints

For the week ahead in Asia, the economic calendar is packed with S&P Global's monthly purchasing managers' index reports, inflation prints, and central bank decisions across the region.Monday brings a slate of S&P Global manufacturing PMI reports for April, alongside Indonesia's inflation and trade figures.On Tuesday, markets will turn to the Reserve Bank of Australia's interest rate decision, while Thailand and the Philippines release April inflation data.Wednesday features South Korea's April inflation print and New Zealand's first-quarter labor-market report, along with PMI readings from India, China, Hong Kong and Singapore.On Thursday, Malaysia's central bank decision will be in focus, alongside Taiwan's April inflation data and the Philippines' first-quarter GDP report.On Friday, Taiwan's April trade data and Malaysia's March industrial production figures will be due, before China closes out the week with April trade figures on Saturday.Here's what to watch in the week ahead.MONDAY, May 4The week kicked off with a slate of S&P Global purchasing managers' index reports covering manufacturing activity during April.Most economies in the region saw a rise in output despite the ongoing conflict in the Middle East which has pushed oil prices upwards.Malaysia's manufacturing sector expanded at its fastest pace in four years in April, supported by stronger output and a return to growth in new orders.The S&P Global Malaysia Manufacturing Purchasing Managers' Index rose to 51.6 in April from 50.7 in March, marking a second straight month of expansion.Output grew at the fastest pace since December 2021, while new orders increased as firms and clients built safety stocks amid uncertainty linked to the Middle East war.Output activity also expanded in South Korea, India, and Taiwan, according to S&P Global.Meanwhile, Vietnam's manufacturing sector also expanded, albeit at a slower pace.The S&P Global Vietnam Manufacturing PMI slipped to 50.5 in April from 51.2 in March, a seven-month low, signalling a tenth straight month of expansion but only marginal growth.In contrast, Indonesia's manufacturing sector slipped into contraction in April as cost pressures intensified due to material shortages and delays linked to the Middle East conflict.The S&P Global Indonesia Manufacturing Purchasing Managers' Index fell to 49.1 in April from 50.1 in March, dropping below the 50 mark for the first time in nine months.Manufacturing activity similarly slipped in the Philippines as new orders fell sharply and cost pressures intensified.Indonesia released inflation figures, noting a 2.4% year on year rise in prices during April -- slower than the 3.5% recorded a month prior.The island state also booked a trade surplus of $5.55 billion in the first quarter, supported by a strong non-oil and gas balance despite higher import growth, according to official data released by Statistics Indonesia.The Melbourne Institute released its monthly inflation gauge, noting another increase in April, mainly driven by higher recreation-related prices. The monthly cost of living also increased in April, especially for employees and self-funded retirees.TUESDAY, May 5An interest rate decision in Australia will capture headlines on Tuesday.The Reserve Bank of Australia is likely to rate hikes by 25 basis points to 4.35% as persistent inflation pressures and rising fuel costs linked to Middle East supply disruptions keeps the central bank on a hawkish path even as global peers hold steady.Thailand and the Philippines will release inflation data for April.Economists at ING said they expect the Philippines' headline inflation to rise above 5% as the government passes on the impact of higher global oil prices onto consumers. The Philippines' inflation climbed to 4.1% in March.Thailand is similarly expected to see a rise in consumer prices during April. According to a consensus compiled by Trading Economics, headline inflation could clock in at 1.7% on an annual basis, compared with a 0.08% decline in March.First-quarter gross domestic growth data will be due in Indonesia. DBS said it was forecasting 5.6% growth for the quarter thanks to government spending and festive spending during the period, the Wall Street Journal reported.Hong Kong will similarly release its first-quarter advance GDP growth estimate on Tuesday.Meanwhile, March retail sales figures will be expected in Singapore.On the activity front, S&P Global will release PMI reports manufacturing activity in Thailand and services and composite activity in Australia.WEDNESDAY, May 6Another inflation print, this time in South Korea.Economists at ING said they expect consumer prices to rise at a faster pace in April despite attempts by Seoul to rein in the impact of rising oil costs on consumers. A consensus compiled by Trading Economics indicated headline inflation could clock in at 2.6%.In March, South Korea's annual inflation rose to 2.2%, breaching the central bank's 2% target.First-quarter labor data from New Zealand will also be in the news.CommBank expects headline labor-market figures to remain weak, forecasting just 0.1% quarterly employment growth and a rise in unemployment to 5.5%, compared with Trading Economics consensus estimates of 0.3% employment growth and a 5.4% jobless rate for the first quarter."We do not envisage a labor market recovery until 2027, reflective of adverse impacts from geopolitical ructions," CommBank said in a preview.The Philippines will similarly release labor data for March, as well as industrial production figures.ING said it expects unemployment to edge higher. "On the industry side, weak soft construction activity should continue to weigh on growth," ING said.Additional S&P Global PMI reports covering services and composite activity in India and China, as well as overall activity in Hong Kong and Singapore, will be due.A business confidence report will be due in Thailand, while Hong Kong's March retail sales figures will also be on display.THURSDAY, May 7Malaysia's central bank will meet for its interest rate decision, with no change expected in the 2.75% policy rate.RHB Bank said it expects Bank Negara Malaysia to hold rates as growth remains steady and inflation remains in check, the Wall Street Journal reported.Taiwan's April inflation print will be due, with analysts looking for signs on how the Iran war was weighing in on prices. ING said it expects to see inflationary pressure picking up after limited pass through of energy prices in March.Australia will release March trade figures. The country's trade surplus could fall to A$4.45 billion from the A$5.69 billion recorded in the month prior, according to a consensus compiled by Trading Economics.CommBank said it expects the goods trade balance to decline due to rising fuel imports in the wake of the Iran conflict.The Philippines' first-quarter GDP growth figures will be expected. ING said the Philippines' economy could recover to a growth of 4.3% year on year thanks to favorable base effects and some pick-up in government spending.The Philippines' economy grew by 3% last quarter.Another confidence report covering consumer sentiment will be due in Thailand.FRIDAY, May 8Markets will be on the lookout for Taiwan's trade data for April.ING said it expects the island state's trade surplus to rise to $21.6 billion from $21.3 billion in the month prior. "We're looking for another strong month, with 59.3% YoY export growth and 35.5% import growth," ING said in a preview.In Malaysia, March industrial production figures will be due.S&P Global will release PMI reports covering services and composite activity in Japan.SATURDAY, May 9China will release its April trade data on Saturday.The world's second largest economy could record a surplus of $82.4 billion for the month, rising from $51.13 billion in March, according to a consensus compiled by Trading Economics.Analysts at DBS expect a sharp uptick in surplus, with export growth more than doubling to 8.4% from the 2.5% rise seen in March, the WSJ reported.

Market Chatter: Southeast Asians Turn to New Crude Oil Suppliers Amid Middle East Crisis

Southeast Asian countries are changing where they buy crude oil, moving away from Gulf suppliers and turning to places like the US, Brunei and Libya, Nikkei Asian Review reported Monday, citing trade data and Kpler shipping figures.The shift comes as disruptions in Middle Eastern supply routes have hit flows through the Strait of Hormuz, pushing import-reliant economies such as Thailand and Vietnam to look for new sources. Thailand's imports from the UAE fell sharply in April, while shipments from Brunei and Libya increased, according to the report.Vietnam has also reworked its supply mix, with lower volumes from traditional suppliers offset by arrivals from countries including Angola, Argentina and the United States. Singapore has similarly cut reliance on Gulf crude, with most of its imports now sourced from the US, the news outlet said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ADB Commits $70 Billion Investment in Asia Through 20235 to Boost Energy, Digital Infrastructure

The Asian Development Bank will inject $70 billion through 2035 to expand energy and digital infrastructure across the Asia-Pacific, with a focus on cross-border electricity trade and broader internet access.In the recent report on Monday, ADB President Masato Kanda said stronger regional connectivity will help lower costs and support growth. The bank plans to mobilize $50 billion under its Pan-Asia Power Grid Initiative to link national grids, scale up renewable energy use, and build transmission lines, substations and storage.A further $20 billion will go towards the Asia-Pacific Digital Highway, funding fibre networks, data centres and other digital systems. By 2035, the projects aim to connect 200 million people to power, widen broadband access, and generate jobs across the region, the report said.

Philippine Manufacturing Activity Contracts as Orders Fall, Costs Rise, S&P Global Says

The Philippines' manufacturing sector slipped into contraction in April as new orders fell sharply and cost pressures intensified, according to data released Monday by S&P Global.The S&P Global Philippines Manufacturing Purchasing Managers' Index fell to 48.3 in April from 51.3 in March, marking the first contraction since November.New orders declined at the fastest pace since August 2021, while export demand weakened further, with firms citing trade route disruptions and halted shipments.Production stalled, and firms cut employment and purchasing activity, drawing down inventories to meet output needs.Input costs rose at the fastest pace since December 2022, driven by higher energy and shipping costs linked to the Middle East war, prompting the sharpest increase in selling prices in 41 months.Supplier delivery times lengthened, while business confidence improved to a 17-month high on expectations of stronger demand ahead.

ADB Pledges $70 Billion For Energy, Digital Networks Across APAC as Middle East Conflict Batters Outlook

The Asian Development Bank is committing $70 billion to support new energy and digital infrastructure initiatives across the Asia-Pacific region by 2035.ADB President Masato Kanda announced the pledge on Sunday during the lender's annual meeting in Uzbekistan."Energy and digital access will define the region's future," said Kanda. "These two initiatives build the systems Asia and the Pacific need to grow, compete, and connect. By linking power grids and digital networks across borders, we can lower costs, expand opportunity, and bring reliable power and digital access to hundreds of millions of people."The pledge comes as the ADB sharply downgraded its forecast for the APAC region, citing energy disruptions from the ongoing Middle East conflict.On Wednesday, the ADB slashed its GDP growth outlook for developing Asia and the Pacific to 4.7% in 2026 from the previous 5.1% forecast.Inflation for 2026 is projected to accelerate to 5.2% in 2026 from 3% in 2025, before easing to 4.1% in 2027."Our revised outlook is a significant downward revision for growth and a sharp increase in inflation following a special update to reflect the deepening crisis," Kanda said at the time.The bank's new outlook assumes that oil prices average around $96 a barrel in 2026, well above the $69 per barrel average in January and February before the Middle East conflict. The bank expects oil prices to ease to around $80 per barrel in 2027."We are confronting systemic, long-lasting disruptions to global energy and trade networks, not just temporary volatility. ADB will remain an agile partner in protecting the region's economy; tracking fast-moving risks, and moving with urgency to scale up our support," Kanda added.Diesel prices across several Southeast Asian countries have increased by more than 100% since late February, the ADB said in its updated outlook report.The ADB also noted in its Wednesday report that the energy shock is also affecting fertilizer prices, which it said could add to food inflation, particularly for economies most dependent on Middle East imports.Against that backdrop, the ADB is committing $70 billion to build new energy and digital infrastructure in Asia and the Pacific by 2035.The largest investment, worth $50 billion, will be allocated towards cross-border power infrastructure to unlock renewable energy at scale, the ADB said.The project will focus on transmission and grid integration, including cross-border lines, substations, storage, and grid digitalization, according to the lender.By 2035, the bank aims to integrate about 20 gigawatts of renewable energy across borders, connect 22,000 circuit-kilometers of transmission lines, and cut regional power sector emissions by 15%, while improving energy access for around 200 million people.The remaining $20 billion will fund the Asia-Pacific Digital Highway, targeting digital corridors, data infrastructure, and AI-ready economies.The project aims to bring first-time broadband access to 200 million people and cut connectivity costs in remote and landlocked areas by about 40%.The South Korean government will back a new Center for AI Innovation and Development in Seoul with a $20 million contribution. The center will aim to train about 3 million people in digital and AI-related skills by 2035.Separately on Sunday, the ADB also unveiled a Critical Minerals-to-Manufacturing Financing Partnership Facility designed to help the region move beyond mining into higher-value industries such as processing, manufacturing, and recycling.Japan committed $20 million to the grant window, the UK contributed $1.6 million, and the Korea Eximbank and the Korean Trade Insurance Corporation each signed $500 million memorandums as the facility's first partners.

ADB Cuts Economic Growth Projections for Developing Asia Amid Middle East Crisis

The Asian Development Bank sharply downgraded its economic growth forecasts for developing Asia and the Pacific while raising inflation projections, citing prolonged disruptions from the Middle East conflict that are driving up energy prices and tightening financial conditions.The bank now expects regional growth of 4.7% in 2026 and 4.8% in 2027, down from its earlier forecast of 5.1% for both years. Meanwhile, inflation is projected to accelerate to 5.2% this year before slowing to 4.1% in 2027, according to the latest ADB report.ADB said the revisions reflect sustained pressure on oil and gas prices, with crude expected to average about $96 per barrel in 2026, significantly higher than pre-conflict levels, weighing on fuel-importing economies.Under a more severe scenario, growth could ease further to 4.2% this year and 4% next year, while inflation may spike to 7.4% in 2026, the bank added, urging targeted fiscal support and measured monetary responses.

Philippines Manufacturing PPI Growth Quickens to 2.5% in March

The Philippines' producer price index (PPI) for manufacturing rose 2.5% year over year in March, accelerating from a 1.4% increase in February, data from the Philippine Statistics Authority showed Thursday.The pickup was driven mainly by an 8.7% rise in the manufacture of coke and refined petroleum products, up from 3.6% in the previous month.Faster growth in the manufacture of computer, electronic and optical products at 5.3%, along with a 4.3% increase in basic metals, also supported the expansion.Meanwhile, PPI growth for food manufacturing eased to 0.7% in March from 0.9% in February, the data showed.

Philippines' Exports Rise, Imports Fall in March; Total Trade Hits $20.2 Billion

The Philippines' total external trade in goods reached $20.16 billion in March, based on seasonally adjusted data released by the Philippine Statistics Authority on Thursday.Exports inched up 0.4% to $7.81 billion from $7.78 billion in February, supported by a 7% rise in manufactured goods, while mineral and agro-based products declined.Meanwhile, imports slid 2% to $12.35 billion from $12.60 billion, weighed down by lower consumer and capital goods imports, although raw materials and intermediate goods increased.Manufactured goods remained the country's top export category during the month, the data showed.

Market Chatter: Philippines Secures US Extension to Import Oil from Russia

The U.S. has approved an extension of the Philippines' waiver to import Russian oil and petroleum products, Business World reported Monday, citing the Philippine energy department.The new approval runs from April 17 to May 16. Energy Undersecretary Alessandro Sales said the one-month extension applies broadly to all eligible buyers. Energy Secretary Sharon S. Garin said the country currently holds 54 days of fuel reserves, indicating adequate near-term supply stability.The previous waiver, issued in March, expired on April 11 after allowing temporary Russian oil imports, reportedly.Meanwhile, the government will maintain its moratorium on new coal projects despite industry pressure, although projects approved before 2019 may still proceed as the Department of Energy reviews existing approvals and potential retirements, the news outlet said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Market Chatter: Philippine Oil Companies to Slash Diesel, Kerosene Prices for Third Straight Week

The Philippines' diesel and kerosene prices are set to fall for a third consecutive week, starting Tuesday, Business World reported the same day.Diesel is expected to drop by at least 12.94 Philippine pesos per liter while kerosene is projected to decline by at least 15.71 pesos per liter, the report said, citing the country's energy department.However, gasoline may rise by up to 0.53 pesos per liter, the report added.The adjustments reflect actual market movements from the previous week, and fuel retailers are required to comply or face sanctions, Philippine Energy Secretary Sharon S. Garin reportedly said.The country continues to depend heavily on imports but is diversifying supply sources, including temporary Russian crude purchases and state-led diesel procurement, the news outlet reported.Fuel inventory stood at 54 days as of April 24, supported by steady replenishment despite daily consumption of about 34 million liters, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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.

Philippine Business Sentiment Drops Sharply in March Amid Middle East Tensions

Philippine business sentiment deteriorated sharply in March as concerns over higher fuel costs stemming from Middle East tensions dampened outlook, The Bangko Sentral ng Pilipinas survey showed Friday.The confidence index plunged to -24.3% from 8.2% in February, while the outlook for the next quarter fell to -17.3% from 37.4%.The 12-month outlook remained positive but weakened significantly to 11.7% from 51.1%, reflecting worries over geopolitical risks and ongoing inflation, the central bank said.Hiring plans also softened for both the coming quarter and year, indicating slower job growth ahead.Firms expect inflation to rise above the central bank's 3% target but stay within its allowed range, with the central bank ready to act if pressures increase., the report said.