This article first appeared in The Edge Malaysia Weekly on October 19, 2026 - October 25, 2026

The week ahead will begin on Oct 19 with the reporting of Malaysia’s September external trade data, keenly watched by economists and the market given the stellar performance so far this year.

Bloomberg estimates put export growth  at 37.4% year on year and imports at 9% y-o-y. The trade balance is forecast at RM31.25 billion. August export data had surged 45.5% y-o-y, exceeding market consensus estimate by a far margin of 38% y-o-y. Export performance was underpinned by the robust growth in the electrical and electronics (E&E) sector as well as exports of refined petroleum products, which accelerated 65% and 21.3% y-o-y respectively.

RHB Research had said earlier that it sees further upside to its 2026 export growth forecast of 21.7%, reinforced by the strong export expansion of 31.2% from January to August.

“Export momentum should remain underpinned by resilient manufactured exports, particularly E&E products, as well as continued strength in commodity exports, notably natural gas. The external outlook, however, remains dependent on developments in the AI (artificial intelligence) investment cycle, geopolitical conditions and US tariff policies, which could influence global demand and trade flows,” it added.

On the same day, Malaysia will also release its September Consumer Price Index (CPI), with estimates on Bloomberg estimating a 1.9% increase y-o-y.

CGS International Securities says in its Sept 18 report after the release of the previous month’s CPI data that while near-term inflation should remain contained following government support measures the medium-term inflation risks have increased amid more persistent higher-for-longer energy prices. It sees the full-year 2026 CPI growth at 1.9% y-o-y.

Elsewhere in Asia, China’s third-quarter (3Q) gross domestic product will also be released on Sept 19. Bloomberg estimates put growth at 4.4% y-o-y from 4.3% y-o-y in 2Q. China will also release its September industrial production and retail sales, which are forecast at 5.4% growth y-o-y and 0.5% y-o-y respectively.

Three key central banks in Asia are due for their monetary policy decision, beginning with Bank Indonesia on Oct 21, which is expected to keep the key policy rate steady at 5.75%.

On Oct 22, the Bank of Korea (BoK) will announce its decision which, according to a Bloomberg survey, economists expect the rate to hold at 3%.

“The upside risks to the BoK’s tightening path remain if the Middle East conflict extends into 2027. In addition, stronger economic growth could lead to more pronounced demand-driven inflationary pressures,” UOB Global Economics and Markets Research says in a recent note.

The Philippines Central Bank will make its decision known on Oct 22 as well. Economists are expecting a hike in the overnight borrowing rate and the standing overnight deposit rate by 25 basis points to 5.25% and 4.75% respectively.

Outside Asia, two of the Magnificent Seven companies, Meta Platforms and Tesla, will be announcing their quarterly earnings on Oct 21.

Meta will be the first AI hyperscaler to announce earnings this week. The market will be looking for signs of how it will show a return on investment — an indication of whether future spending will be sustainable.

Meanwhile, Tesla has missed earnings estimates in two of the trailing four quarters. The focus will be on its automotive business as vehicle deliveries are showing mixed trends, with y-o-y declines despite a sequential increase.

On Wall Street, 74 of the S&P 500 companies will also report their 3Q earnings.

In terms of economic data, the US will be announcing its September housing starts on Oct 20. Forecasts put it at 2.3% month-on-month growth at 1.305 million units, from a contraction of 2.6% m-o-m at 1.275 million units in August. The US will also release its initial jobless claims on Oct 24, which UOB estimates at up to 240,000, close to the 241,000 recorded in the previous week.

Key data from G7 economies this week include the UK’s September CPI on Oct 21, with economists forecasting growth of 3.3% y-o-y and Canada’s September CPI with a forecast increase of 3.2% y-o-y.

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