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.
During the week of 8 May, four of Southeast Asia’s stock indices advanced, while five declined. The Lao Securities Exchange (LSX) led all gains with 1.31%, while the Stock Exchange of Thailand declined the most, falling 1.60%.
In the Philippines, Eagle Cement and Cebu Landmasters have cleared all initial public offering (IPO) requirements and are scheduled to list on the Philippine Stock Exchange on 29 May and 2 June, respectively, according to Business World. This brings the year-to-date number of Philippine IPOs to three, with four more anticipated later in the year (see “Philippine Market Gaining Momentum, Underscoring Strong Growth Prospects,” for more information).
Myanmar opened a fuel storage terminal at Thilawa Port in Yangon. It is the first terminal to meet international standards and will hold various petroleum products, to include commercial and jet fuel, according to the Myanmar Times.
- Lao Securities Exchange (LSX), 1.31%
- Singapore’s Straits Times Index (STI), 0.79%
- Kuala Lumpur Composite Index (KLCI), 0.74%
- Vietnam All-index (FTFVAS), 0.74%
- Jakarta Stock Exchange (JSX), -0.14%
- Philippine Stock Exchange index (PSEi), -0.34%
- Myanmar’s Myanpix Index (YSX), -0.91%
- Cambodia Securities Exchange (CSX), -0.94%
- Stock Exchange of Thailand (SET), -1.60%
During the week of 8 May, eight of nine Southeast Asian currencies appreciated relative to the US Dollar, with the Myanmar Kyat (MMK) leading all advances at 0.48%. The MMK had been down 0.56% as of 10 May but jumped almost 1% on 11 May; we do not know why the currency rallied and the Central Bank of Myanmar issued no news releases over the week, according to its website.
The Philippine Peso (PHP) had the week’s second highest gain relative to the US Dollar, advancing almost 0.50% after the Philippine Central Bank met on 11 May and decided to maintain the interest rate on overnight reverse repurchase facilities at 3.0%, according to the Philippine Central Bank. On 9 May, Manila named deputy governor of the central bank, Nestor Espenilla, Jr., as the bank’s new governor. He will assume his new role in July and is expected to maintain the bank’s current policies, according to the Manila Bulletin.
The Malaysian Ringgit (MYR) was the only currency to decline, dropping 0.18% over the week and reverting to late April levels. On 12 May, the Central Bank of Malaysia announced that it would hold the overnight policy rate at 3.0%, according to its website.
- Myanmar Kyat (MMK), 0.48%
- Philippine Peso (PHP), 0.34%
- Vietnamese Dong (VND), 0.18%
- Singapore Dollar (SGD), 0.06%
- Thai Baht (THB), 0.03%
- Lao Kip (LAK), 0.01%
- Cambodian Riel (KHR), 0.00%
- Indonesian Rupiah (IDR), 0.00%
- Malaysian Ringgit (MYR), -0.18%