Bank Indonesia will deliver a third consecutive 50 basis point interest rate rise on Thursday, according to a strong majority of economists polled by Reuters, although some expected a smaller quarter-point move given the relatively strong currency.

China's central bank partially rolled over maturing medium-term policy loans and kept the interest rate unchanged for a third straight month on Tuesday, suggesting policymakers remain wary of stoking further yuan weakness by easing monetary conditions.

The Japanese economy unexpectedly shrank in the third quarter, preliminary data showed on Tuesday, as worsening inflation levels and further depreciation in the yen severely undercut economic growth in the country.

Chinese industrial production grew less than expected in October, while retail sales unexpectedly shrank amid renewed disruptions from anti-COVID measures, heralding more weakness in the world’s second-largest economy. 

Leaders of the Group of 20 (G20) nations opened talks on Tuesday on the island of Bali, with a plea by host Indonesia for unity and concrete action to mend the global economy despite deep rifts over the war in Ukraine.

OCBC Bank has revised its growth forecast for Malaysia’s gross domestic product (GDP) for 2022 to 6.9 per cent year-on-year (y-o-y) from 5.7 per cent previously.