Your weekly lineup of Asia’s biggest business and political events
Welcome to Your Week in Asia.
Asian stocks closed last week unbothered by the particularly long wait for results from the U.S. election, with Japan’s Nikkei index hitting a 29-year high Friday. An impending Biden presidency will be on the minds of Asian leaders as the ASEAN and the Shanghai Cooperation Organization hold their annual gatherings this week.
Look out for GDP releases from the Philippines Tuesday and Malaysia Friday, as well as trade data from Taiwan Monday. Results will come this week from SoftBank Group and Apple suppliers Foxconn and Pegatron, as Apple prepares to launch the first Macbooks with in-house chips.
Fosun subsidiary opens India IPO
Fosun-backed Gland Pharma will start taking subscriptions Monday for its IPO. The offering, worth as much as 64.5 billion rupees ($871 million), is shaping up to be India’s largest by a pharmaceutical firm and the first Chinese-owned company to list in India. The company and existing holders including Fosun Pharma Industrial are selling up to 43.2 million shares in a range 1,490 rupees to 1,500 rupees each. The listing in Mumbai is expected on Nov. 20.