This article first appeared in The Edge Malaysia Weekly on February 24, 2025 - March 2, 2025

Some of the country’s biggest lenders will be releasing their 4Q2024 financial results this week, including Malayan Banking Bhd (KL:MAYBANK), CIMB Group Holdings Bhd (KL:CIMB), Public Bank Bhd (KL:PBBANK) and RHB Bank Bhd (KL:RHBBANK).

Maybank’s and Public Bank’s results are expected on Feb 26, while those of RHB Bank and CIMB are slated for Feb 27 and 28 respectively.

On Feb 28, Bank Negara Malaysia will put out a detailed disclosure of its international reserves as at end-January, as well as its latest monthly banking statistics for January.

Over at the courts, the 1Malaysia Development Bhd-Tanore trial, in which former prime minister Datuk Seri Najib Razak is accused of four abuse of power and 21 money-laundering charges, continues on Monday before judge Datuk Collin Lawrence Sequerah.

Also on Monday, Kuala Lumpur High Court judge Datuk Amarjeet Singh is expected to rule on a judicial review application on the gazetting of the Kuala Lumpur City Plan 2020, which the plaintiffs contend is illegal.

Elsewhere, the central banks of Thailand and South Korea are due to have an interest rate decision on Feb 26 and 25 respectively. The Bank of Thailand (BoT) is widely expected to keep the benchmark interest rate unchanged at 2.25%.

“Our economist … is with the minority and expects a 25-basis-point rate cut [by the BoT] as a pre-emptive move, and thereafter, expects the policy rate to remain unchanged throughout 2025, in our base case,” UOB Global Economics & Markets Research said in a Feb 21 outlook report.

Meanwhile, the Bank of Korea is widely expected, including by UOB, to cut its policy rate by 25 basis points to 2.75%.

Thailand and the Philippines will release January trade data on Feb 28, while South Korea will put out February trade data on March 1.

Singapore will announce January inflation and industrial production data on Feb 24 and 26 respectively. On Feb 28, it will release money supply data, and the latest information on deposits and balances of residents outside the city state. Also, the Singapore Parliament will be in session from Feb 26 until March 10.

Hong Kong’s financial secretary, Paul Chan, is expected to deliver the special administrative region’s 2025-2026 Budget on Feb 26, where he will seek to cut expenditure while issuing more bonds to fund major infrastructure projects amid pressure to rein in the government’s budget deficits. The official forecast for this year’s gross domestic product (GDP) will also be announced.

“The deficit is forecast to reach nearly HK$100 billion (US$12.8 billion or RM56.8 billion) in the current financial year after exceeding HK$100 billion in the two preceding years. The government is expected to present a plan for fiscal consolidation over the coming years,” UOB noted.

In Europe, all eyes will be following developments in Germany following the country’s federal election, slated to take place on Feb 23. Chancellor Olaf Scholz had called for a snap general election when his coalition government fell apart late last year.

The G20 finance ministers and central bank governors are scheduled to meet in Cape Town, South Africa, on Feb 28 and 29. According to press reports, US Treasury Secretary Scott Bessent will not be attending, citing obligations in Washington. The US traditionally plays a key role in the gathering.

In Japan, the January services Producer Price Index data will be announced on Feb 25. On Feb 28, there will be a slew of data, including on the Tokyo Consumer Price Index (CPI) for February, and January retail sales, preliminary industrial production and housing starts. On the same day, there will be the release of data on Japan’s buying of foreign bonds and stocks as at Feb 21, and on foreign buying of Japanese stocks and bonds.

Early this week, China’s central bank is expected to announce the one-year medium-term lending facility rate and facility volume. The country will also put out February manufacturing and non-manufacturing Purchasing Managers’ Index (PMI) data on March 1.

On Feb 27, the US will release the second reading of its GDP for 4Q2024. India will release its 4Q2024 GDP on Feb 28, while Taiwan will announce its final 4Q2024 GDP reading on Feb 26.

India’s stock markets will be closed on Feb 26 for the Mahashivratri holiday, while Taiwan’s will close on Feb 28 for the Peace Memorial Day celebration. Japan will have a market holiday on Feb 24 in observance of the Emperor’s birthday on Feb 23.

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