Asia Tops Emerging-Market Scorecard After Rout as South Africa Lags
- Indonesia and Philippines draw support from central banks
- Malaysia offers relative value with higher growth, safety
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As emerging-market currencies suffered their biggest back-to-back monthly slump since 2016, Asia is outshining the rest by some measures.
Malaysia, the Philippines, Indonesia and China top the scorecard among 21 developing economies in a Bloomberg analysis based on a range of metrics including forecasts for gross domestic product and current account, sovereign ratings as well as stock and bond valuations. South Africa is at the bottom of the pack mainly due to its current account deficit and low foreign reserves.