Welcome to Your Week in Asia.
Japan has moved cautiously to loosen its strict COVID-19 era entry requirements. It will double its cap on overseas arrivals on June 1 and exempt the majority of them from testing and quarantining. It will also begin a strict, limited tourism opening on June 10. All holidaymakers will have to be part of organized groups and be closely monitored throughout their trips.
Elsewhere, South Korea has announced it will resume issuing tourist visas. In China, which continues to pursue a "zero COVID" policy, Shanghai residents are still waiting to be released from a two-month lockdown; the finance hub aims to restore all activities in the coming month.
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MONDAY
Duterte Legacy summit
Philippine President Rodrigo Duterte's communications office holds a two-day event devoted to his legacy, a month before he ends his six-year term on June 30. Duterte is mostly known internationally for a deadly drug war that has killed thousands of people and been widely condemned by human rights groups. His supporters hope to widen the debate to focus on his records regarding the economy, justice and climate change mitigation.
TUESDAY
China official PMI
China's Purchasing Managers Index announcement for May will provide a vital gauge of factory activities as continued COVID-19 lockdowns in Shanghai and other cities trigger concerns about the world's second largest economy. The PMI fell to 47.4 last month, the steepest drop since February 2020. Premier Li Keqiang told officials last week that the country's recent challenges were "greater" than those experienced in 2020 as the pandemic took hold.
New board for Foxconn
Foxconn, the world's biggest contract electronics manufacturer, hosts its annual shareholders meeting at its headquarters in New Taipei City in Taiwan. Shareholders are set to approve the company's proposal of new board members. Current boards of Foxconn vice chairman Jay Lee, former chairman of Asia Pacific Telecom Lu Fang-ming, and chairman of FIT Sidney Lu are not among the new board members. Foxconn Chairman Young Liu is expected to continuein his role.
India GDP
WEDNESDAY
Japan and South Korea further reopen borders
Japan increases the daily cap on the number of visitor arrivals to 20,000 from the current 10,000 as a step toward more widely opening its borders. For those traveling from low-risk countries -- which account for about 80% of inbound travelers to Japan -- the government will no longer require on-arrival COVID-19 testing and quarantining. Prime Minister Fumio Kishida has also announced that the country will start accepting general tourists on June 10, starting with package tours.
South Korea will restart issuing tourist visas, opening its door after two years. Holidaymakers coming to the country can apply for a short-term visitor visa. The government hopes this will boost the domestic tourism and aviation industries.
New team takes over at Australia's Star Entertainment
Star Entertainment Group, Australia's second-largest casino operator, is enduring the same kind of leadership upheaval that beset rival Crown Resorts. Matt Bekier and John O'Neill resigned as CEO and chairman respectively in the wake of a New South Wales inquiry in which witnesses have testified that management overlooked rampant violations of regulations on cash handling and transfers with Chinese high rollers and Macao junket agents.
With Bekier taking responsibility for the violations uncovered in the ongoing probe, venture capital executive Ben Heap will step in as interim chairman while Geoff Hogg will be temporarily promoted to acting chief executive.
Shanghai starts full reopening
Shanghai officially begins moving to restore normal production and daily living activities, two months after China imposed the strictest lockdown on its largest commercial hub. With daily COVID cases dropping to fewer than 500 in the past week, businesses and public facilities, such as supermarkets and shopping malls, will be allowed to resume operations. However, the relaxation, which includes in-person classes for some secondary students, is expected to be gradual and will likely take a month.
South Korea local elections
South Korean voters will cast ballots in mayoral, gubernatorial, council member and school district superintendent elections. They are the first elections since President Yoon Suk-yeol took office earlier this month. Yoon's People Power Party is expected to win key posts, including the Seoul and Busan mayoralties. The main opposition Democratic Party is struggling to defend offices in other cities and regions.
Australia GDP
THURSDAY
EU-Taiwan trade dialogue
The EU is scheduled to hold an "upgraded" trade dialogue with Taiwan. Semiconductors, foreign investment screening and export controls will be on the agenda, according to the European Commission. Chen Chern-chyi, Taiwan's vice minister of economic affairs, has already traveled to Europe for the meeting, having visited Belgium and Lithuania last week.
Company earnings: Meituan
FRIDAY
U.S. divestment deadline for PLA-linked companies
All U.S. individuals and entities will be completely prohibited from purchasing any securities issued by Chinese companies that are deemed to be affiliated with the People's Liberation Army. This is according to a U.S. Executive Order signed by President Joe Biden exactly a year ago, amending and updating similar directives published by his predecessor, Donald Trump.
The order lists 59 Chinese companies alleged to be part of the military-civil fusion strategy. They are claimed to pose "unusual and extraordinary threats," not only to national security but also on human rights both inside and outside China. Based on this order, the three state telecom operators -- China Mobile, China Telecom, and China Unicom -- and the oil and gas conglomerate CNOOC have been delisted from the New York Stock Exchange.
WEEKEND
Tiananmen anniversary
For the third year running, Hong Kong is unlikely to host a large-scale vigil in memory of the 1989 massacre of pro-democracy protesters in Beijing's Tiananmen Square.
An escalating political crackdown in Hong Kong has crushed dissent and the pro-democracy movement there. Authorities banned the two previous Tiananmen vigils, citing public health concerns as the COVID-19 pandemic raged. Leaders of the vigil's organizing group, the Hong Kong Alliance in Support of Patriotic Democratic Movements of China, have been charged with subversion. No other pro-democracy groups have indicated they will hold an event this year.
Kazakhstan constitutional referendum
Kazakhstan will go to the polls for a referendum on proposed constitutional reforms. These are purportedly to create a "presidential system with a strong parliament," as opposed to a "super-presidential system" where the top leader has overwhelming control. President Kassym-Jomart Tokayev announced the plan in March after violent unrest swept the country at the beginning of the year. Critics say the changes are largely cosmetic.
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