This article first appeared in The Edge Malaysia Weekly on July 27, 2026 - August 2, 2026

Following Barisan Nasional’s victory in the Johor state election on July 11, the political spotlight will now turn to Negeri Sembilan on Saturday, Aug 1, when voters choose representatives for the state’s 36-seat legislative assembly. The election will be closely watched as a test of support for Pakatan Harapan (PH) and its governing record as the coalition comes up against Barisan Nasional (BN) and Perikatan Nasional (PN), with the outcome potentially putting more pressure on Prime Minister Datuk Seri Anwar Ibrahim’s unity government at the federal level.

“The high number of three-cornered and multi-cornered contests underscores an increasingly fragmented political landscape following the breakdown of previous electoral alliances,” says UOB Global Economics & Markets Research economist Alvin Liew in a report last Friday.

The incumbent PH coalition will contest all 36 seats, alongside BN (25 seats), Bersatu (24), PN (PN-PAS, 11), Berjasa (1), ASLI (1), PSM (1) and four independent candidates.

On the economic front, of particular interest is the US Federal Reserve’s monetary policy decision following the Federal Open Market Committee meetings on July 29 and 30.

“We remain aligned with Bloomberg consensus that the Fed will keep its Fed Funds Target Rate (FFTR) steady at the range of 3.50%-3.75% in the July meeting,” says Liew.

Monetary policy decisions of other major economies due during the week include those of the Bank of England (BoE) on July 30 and the Bank of Japan (BoJ) on July 31. UOB expects the BoE to hold its key rate unchanged at 3.75% and the BoJ to remain in a period of pause in the third quarter before hiking another 25 basis points to 1.25% late in the fourth quarter.

Several economies will be releasing inflation data, including Australia, whose Consumer Price Index (CPI) for June will be announced on July 29. Australia’s other June data, including building approvals and private sector houses, will be out on July 30 and private sector credit on July 31.

On the same day (July 31), Japan will release Tokyo’s July headline CPI along with the data for CPI excluding fresh food and energy. Data for Producer Price Index (PPI) services is due on July 27 and the consumer confidence index for July on July 30 while retail sales, industrial production (IP) and housing starts will collectively be on July 31.

Spain and Germany will also be releasing July CPI estimates on July 30 while France and Italy will do so the next day.

Across the Causeway, the Monetary Authority of Singapore will release its next Quarterly Monetary Policy Statement and Macroeconomic Review on July 27.

Singapore’s June IP is due for release on July 27 and the preliminary 2Q unemployment rate on July 30 and 31 while the data for deposit loans and money supply for June will also be released on July 31.

Key Asia-Pacific data releases include the second quarter gross domestic product (GDP) data for Taiwan and Hong Kong on July 31. South Korea will be the first economy in the region to release July trade data on Aug 1 while June trade data from Hong Kong will be out on July 27. The Philippines and Thailand announce theirs on July 30 and 31 respectively. China will release its industrial profits data for June on July 17 and its official July Purchasing Managers’ Index surveys on July 31.  India’s June IP data will be published on July 28.

Over in the US, more than 1,000 companies will report their earnings during the week, with 164 of those listed on the S&P 500. The US data calendar will be focused on 2Q GDP data with advance estimates for 2Q GDP due on July 30. Other data of interest include June durable goods orders and the Dallas Fed Manufacturing Survey on July 27; June advance goods trade balance and Conference Board Consumer Confidence for July, and US housing data including the May Federal Housing Finance Agency house price index for May on July 28.

On the corporate front, Bursa Malaysia-listed companies holding their annual general meetings include AME Real Estate Investment Trust (KL:AMEREIT), Vantris Energy Bhd (KL:VANTNRG), SC Estate Builder Bhd (KL:SCBUILD) and Astro Malaysia Holdings Bhd (KL:ASTRO) on July 30. Rohas Tecnic Bhd (KL:ROHAS) will hold its extraordinary general meeting on July 28.

In the courts, the abuse of power trial of former prime minister Tan Sri Muhyiddin Yassin will resume at the Kuala Lumpur High Court on July 27, with testimony from prosecution witness Lian Tian Chuan.

On July 28, the Seremban High Court will hear and decide whether the Negeri Sembilan Undangs committed contempt of court by allegedly breaching the temporary injunction granted on June 5 when they were involved in the appointment of a new Yang di-Pertuan Besar.

On July 29, the Federal Court will hear Datin Seri Rosmah Mansor’s application to review its earlier decision to dismiss her appeal over the then High Court judge Datuk Mohamad Zaini Mazlan’s refusal to recuse himself before convicting and sentencing her in the solar hybrid project corruption case.

The next day (July 30), the Federal Court will hear Datuk Seri Najib Razak’s final appeal to revive his misfeasance suit against former attorney-general Tan Sri Tommy Thomas.

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