India budget, ASEAN foreign ministers meetings, SK Hynix earnings

Welcome to Your Week in Asia.

India on Tuesday will announce its full budget for the current fiscal year ending March 2025. Analysts expect the government to focus on the rural economy, welfare spending and the labor-intensive sectors, stressing job creation and infrastructure investment.

ASEAN Foreign ministers will meet this week in Laos to discuss a range of regional issues.

On Thursday, South Korea's SK Hynix, the world's second-largest memory chip maker, and others are scheduled to announce earnings.

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MONDAY

Taiwan holds five days of military drills

Taiwan kicks off annual military drills, the first under the new administration of President Lai Ching-te. His defense minister, Wellington Koo, has emphasized making the exercises more practical and less performative, amid growing concern over Chinese pressure and the threat of an invasion. The exercise will run for five days through Friday.

Marcos' third State of the Nation address

Philippine President Ferdinand Marcos Jr. delivers his third national address before lawmakers. Marcos is expected to touch on the country's foreign policy as tensions with China continue to simmer.

China's Monetary Policy Committee holds meetings

China's central bank delivers a rate decision, a week after the country's second quarter gross domestic product growth came in at a disappointing 4.7% on the year. The bank will set its one-year and five-year prime lending rates. Forecasts have suggested a cut is possible.

TUESDAY

India announces new budget

India's Finance Minister Nirmala Sitharaman will present the first full annual budget of Prime Minister Narendra Modi's new government, which took charge in June.