Asia Reflation Momentum Puts Commodities, Shipping Stocks on Top
- Thai shipping companies’ shares more than double this year
- Transport, raw materials stocks outpace commodity price gain
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Reflation trades are alive and kicking in Asian equities, where shippers and raw materials producers are outperforming both broader stock gauges and the surge in commodities prices as economies recover.
Shares of Cosco Shipping Holdings Co. jumped 76% this year in Shanghai. Philex Mining Corp. has gained more than 40% in the Philippines, while Vietnam’s biggest steel producer, Hoa Phat Group, advanced 72%. Marine transportation was the top industry for benchmark indexes in Japan and Taiwan.