Re-Opening Trades See Southeast Asia Flip From Worst to Best
- Progress with vaccines, peaking cases are adding to optimism
- Region held lowest slots in Bloomberg Covid Resilience Ranking
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Southeast Asian stocks and currencies have been among the world’s best performers in the past month as rising vaccination levels and falling infection rates helped them power back from a Covid selloff. Money managers are optimistic about further gains.
An index of regional shares jumped more than 5% in August, the most in nine months, while the Thai baht, Malaysian ringgit and Indonesian rupiah were among the four leading emerging-market currencies in the period. JPMorgan Private Bank says pro-growth policies are adding to the upside, while BNP Paribas Wealth Management says low expectations have made valuations attractive.