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The slump in South Korean exports eased further in September in a positive sign for an economy that depends heavily on trade. Headline exports fell 4.4 per cent in September, compared with a 8.3 per cent drop in the previous month. Overall imports fell 16.5 per cent, resulting in a trade surplus of US$3.7 billion. South Korea is one of the world’s largest exporters, with its manufacturers embedded in a wide swath of global supply chains. Its exposure to global trade makes the nation a useful indicator for the health of the world economy.   Source : https://www.businesstimes.com.sg/international/south-koreas-export-decline-eases-further-adding-optimism

China’s factory activity expanded for the first time in six months in September, adding to a run of indicators suggesting the world’s second-largest economy has begun to bottom out. The purchasing managers’ index (PMI), based on a survey of major manufacturers, rose to 50.2 in September from 49.7, according to the National Bureau of Statistics. Near-term data on the radar of economists include consumer spending for the longest public holiday this year. “Golden Week” kicked off on Friday with the Mid-Autumn Festival, which will be followed by the National Day break through October 6th. Passenger travel by rail on Friday reached 20 million trips, a single-day record, state media reported on Saturday, in a bullish start to what authorities had forecast to be “the most popular Golden Week in history”.   Source : https://www.cnbc.com/2023/09/30/chinas-economy-stabilises-factory-activity-returns-to-expansion.html

Indonesian government has given a signal that electric car manufacturer BYD will soon enter the Indonesian market. This follows the plan to issue incentives to eliminate import taxes on completely built up (CBU) electric cars. Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan said that the incentive to eliminate CBU import tax from 50% to 0% will be issued soon. This incentive will make it easier for BYD to enter Indonesia. BYD is a Chinese global electric car giant that was founded in 1995. BYD is present in 6 continents, more than 70 countries and more than 400 cities throughout the world. In 2022, BYD recorded electric car sales of 1,858,364 units or a growth of 211% compared to the previous year.   Source : https://industri.kontan.co.id/news/insentif-penghapusan-pajak-impor-cbu-segera-terbit-byd-siap-masuk-ke-indonesia

Boeing has strengthened its foothold in the Indonesian aviation market by opening a new office in Jakarta and signing a Memorandum of Understanding (MoU) with Indonesia’s Directorate General of Civil Aviation (DGCA). The MoU is aimed at enhancing the safety, efficiency, and sustainability of Indonesia's burgeoning aviation industry. Indonesian carriers such as Lion Air and Garuda Indonesia have ordered a total of 278 Boeing 737 Max narrowbodies. This comes despite the model undergoing a major redesign following the Lion Air crash in 2018 and Garuda Indonesia's unclear order status.   Source : https://www.investing.com/news/stock-market-news/boeing-fortifies-indonesian-aviation-sector-with-new-office-and-mou-93CH-3191364

Apple supplier Foxconn aims to double its workforce and investment in India by next year. Taiwan-based Foxconn, the world's largest contract manufacturer of electronics, has rapidly expanded its presence in India by investing in manufacturing facilities in the south of the country. Foxconn already has an iPhone factory in the state of Tamil Nadu, which employs 40,000 people. In August, the state of Karnataka said Foxconn will invest $600 million for two projects in the state to make casing components for iPhones and chip-making equipment.

Despite growing climate concerns, the world continues to depend on coal as a power source, with more coal-fired capacity created every year. China now generates more electricity from the hydrocarbon. Demand for coal in India increased 8% in 2022, and at the same time a 36% rise in demand made Indonesia the fifth-biggest consumer. Global demand is expected to hit a new high in 2023. Heat waves brought about by global warming increase the world's dependency on fossil fuels, which in turn causes a further rise in temperatures. The world needs to break this vicious cycle, or it could see its 10-year "grace period" for averting climate disaster evaporate quickly.   Source : https://asia.nikkei.com/Spotlight/Datawatch/World-struggles-to-break-coal-habit-despite-looming-climate-risk#

  Morris Garage (MG) announced its commitment to the Indonesian automotive industry. After being present since 2020 by importing cars, next year MG will produce its cars in Indonesia. MG announced that it would sell the MG ZS EV electric car in Indonesia. The electric car was exhibited at the 2023 Gaikindo Indonesia International Auto Show (GIIAS). Ministry of Industry (Kemenperin) reported that there would be four car manufacturers that would build factories in Indonesia. They will start domestic vehicle production in the first quarter of next year.   Source : https://oto.detik.com/mobil/d-6875286/mobil-mg-diproduksi-di-indonesia-mulai-tahun-depan

Indonesia’s data center industry offers promising investment prospects. Foreign investment in Indonesia’s data center industry is picking pace due to the rapid growth of the country’s digital economy. According to a report compiled by Google, Temasek, and Bain & Company, Indonesia’s digital economy had a GMV of US$77 billion in 2022. This is expected to increase to between US$220 and US$360 billion by 2030, making it the largest digital economy in Southeast Asia. Further, the development of data centers in Indonesia is also part of the government’s efforts to accelerate digital transformation across all ministries, government agencies, and state-owned enterprises. Coupled with the huge domestic demand for digital services, Indonesia’s data center industry offers foreign investors an opportunity to profit from this relatively untapped sector.   Source : https://www.aseanbriefing.com/news/indonesias-data-center-industry-investment-outlook-and-regulations/