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.
Indices
In a week in which the US Federal Reserve raised interest rates 25 basis points to a range of 1.00-1.25%, Southeast Asian markets mostly advanced, probably as expectations of weaker currencies bolstered investors’ expectations for an increase in exports and foreign earnings. The Jakarta Stock Exchange led all gains, increasing 0.85%, and Myanmar’s Myanpix Index had the steepest decline, falling 3.13%.
During the week, Phnom Penh announced it was preparing legislation to create a corporate bond market that would enable companies to issue debt to raise capital, according to The Phnom Penh Post. The bonds would be issued on the Cambodia Securities Exchange (CSX) and denominated in Khmer Riel; eventually, bonds also might be issued in Thai Baht and US Dollars. This announcement follows the initial public offering last week of Cambodia’s only deep sea port on the CSX, bringing the total number of publicly traded companies to five.
Weekly gains
- Jakarta Stock Exchange (JSX), 0.85%
- Vietnam All-index (FTFVAS), 0.76%
- Stock Exchange of Thailand (SET), 0.63%
- Kuala Lumpur Composite Index (KLCI), 0.14%
- Cambodia Securities Exchange (CSX), 0.07%
- Lao Securities Exchange (LSX), 0.05%
Weekly declines
- Singapore’s Straits Times Index (STI), -0.70%
- Philippine Stock Exchange index (PSEi), -1.35%
- Myanmar’s Myanpix Index (YSX), -3.13%
Currencies
Seven of the nine primary Southeast Asian currencies declined relative to the US Dollar the week of 12 June—only the Thai Baht and Singapore Dollar, which have the greatest sum of foreign currency reserves, advanced. The general decline was to be expected after the increase in interest rates in the US. However, despite most Southeast Asian currencies down for the week, most only depreciated marginally, with the Myanmar Kyat having the greatest decline, falling 0.91% and bringing its annual depreciation to more than 13% verse the US dollar.
Foreign Currency Reserves
| Country | Foreign Reserves (US Dollars in Millions) |
| Singapore (As of April 2017) | 260,725 |
| Thailand (As of May 2017) | 175,806 |
| Indonesia (As of May 2017) | 123,249 |
| Malaysia (As of April 2017) | 89,528 |
| Philippines (As of April 2017) | 70,882 |
| Vietnam (As of December 2016) | 37,000 |
| Cambodia (As of December 2016) | KHR 27,172 billion, or USD 6,719 million* |
| Myanmar (As of June 2016) | 4,926 |
| Laos (As of December 2016) | LAK 18,966 billion, or USD 2,317 million^ |
*This sum includes monetary gold and special drawing rights, and implies a conversion rate at 30 December 2016 of KHR 4,044 to USD 1.
^This implies a conversion rate at 30 December 2016 of LAK 8,183 to USD 1.
Weekly appreciations
- Thai Baht (THB), 0.37%
- Singapore Dollar (SGD), 0.07%
Weekly depreciation
- Vietnamese Dong (VND), -0.01%
- Indonesian Rupiah (IDR), -0.05%
- Cambodian Riel (KHR), -0.15%
- Malaysian Ringgit (MYR), -0.27%
- Lao Kip (LAK), -0.47%
- Philippine Peso (PHP), -0.69%
- Myanmar Kyat (MMK), -0.91%
