Market Summary, 1-5 May 2017

Each week, we provide an overview of the percent returns of the primary indices in Southeast Asia and their currency appreciation or depreciation relative to the US Dollar.  We provide this information below.  We also capture this information, as well as the trailing four and twelve week movements, and plot the data in charts, which you can find on the “index charts” and “currency charts” pages.

Stock Indices

During the week of 1 May, four of the primary indices in Southeast Asia advanced, while five declined.  The Philippine Stock Exchange index (PSEi) led all gains in Southeast Asia, advancing 2.36%.

Multiple factors throughout the week probably drove the PSEi’s gains.  On Friday, the Philippines Statistics Authority announced that headline inflation—which includes food and energy costs—held steady in April at 3.4%, slightly lower than expected, according to Business World, a Philippine business publication.   On Wednesday, Philippine lawmakers removed Regina Lopez as the country’s environmental and natural resources minister almost certainly because she was viewed as adversarial to the mining industry; during her time as minister, she closed 22 of the country’s 41 mines and banned open-pit mining, according to Business World.  Finally, on Saturday, 29 April, US President Donald Trump spoke with Philippine President Rodrigo Duterte and invited him to the White House, according to Business World, which might have fueled speculation of renewed ties between Manila and Washington, and possibly increased trade.

Weekly gains

  • Philippine Stock Exchange Index (PSEi), 2.36%
  • Singapore’s Strait Times Index (STI), 1.71%
  • Stock Exchange of Thailand (SET), 0.17%
  • Vietnam-all Index (VAS), 0.06%

Weekly declines

  • Jakarta Stock Exchange (JSX), -0.03%
  • Kuala Lumpur Composite Index (KLCI), -0.30%
  • Cambodia Securities Exchange (CSX), -0.84%
  • Lao Stock Exchange (LSX), -1.00%
  • Myanmar’s Myanpix Index (YSX), -1.28%

May 1-5, 2017- Southeast Asia Index Chart

Currencies

During the week of 1 May, four Southeast Asian currencies appreciated relative to the US Dollar and five depreciated.  Similar to the performance of the stock indices, the Philippine Peso led all currency advances, gaining 0.74%, reversing its decline the prior week.

Weekly appreciations

  • Philippine Peso (PHP), 0.74%
  • Lao Kip (LAK), 0.10%
  • Malaysian Ringgit (MYR), 0.08%
  • Vietnamese Dong (VND), 0.05%

Weekly depreciations

  • Indonesian Rupiah (IDR), -0.01%
  • Cambodian Riel (KHR), -0.01%
  • Myanmar Kyat (MMK), -0.07%
  • Thai Baht (THB), -0.23%
  • Singapore Dollar (SGD), -0.56%

May 1-5, 2017-Southeast Asia Currency Chart


 

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