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 year-to-date movements, and plot the data in charts, which you can find on the “index charts” and “currency charts” pages.
Indices
During the week of 19 February, seven of the ten exchanges in Southeast Asia advanced, with the Ho Chi Minh Stock Exchange index having the greatest gain, rising more than four percent. Myanmar’s Myanpix index had the greatest decline, falling more than two percent.
In the Philippines, Energy Secretary Alfonso Cusi stated on Friday that he wanted Manila to lift the moratorium on oil exploration in the West Philippine Sea, which is how the government refers to the South China Sea, to encourage exploration in the Philippine upstream oil and gas sector, according to The Manila Times. For more information on the Philippine upstream oil and gas sector, please see “Relative Valuation of Upstream, Philippine Oil and Gas Companies.”
In Singapore, economists increasingly assess the Singapore central bank will exit its neutral policy stance this year, possibly when it meets in April, according to Bloomberg. Singapore’s monetary policy is centered on the management of the exchange rate, rather than interest rates, due to the trade-reliant nature of the Republic’s economy, according to the Monetary Authority of Singapore and The Straits Times.
Weekly gains
- Ho Chi Minh Stock Exchange Index (VNI), 4.07%
- Singapore’s Straits Times Index (STI), 2.61%
- Hanoi Stock Exchange Index (HNX), 1.55%
- Kuala Lumpur Composite Index (KLCI), 1.26%
- Cambodia Securities Exchange index (CSX), 1.00%
- Jakarta Stock Exchange index (JSX), 0.43%
- Stock Exchange of Thailand index (SET), 0.12%
Weekly declines
- Lao Securities Exchange index (LSX), -0.06%
- Philippine Stock Exchange index (PSEi), -1.68%
- Myanmar’s Myanpix index (YSX), -2.74%
Currencies
Only the Philippine Peso, the region’s weakest currency relative to the US Dollar (USD) year-to-date, advanced relative to the USD the week of 19 February, gaining almost one percent. The Myanmar Kyat (MMK) had appreciated to its strongest levels since late 2016, reaching MMK 1,323.50/USD on Tuesday, before ending the week down almost one percent.
Weekly appreciations
- Philippine Peso (PHP), 0.82%
Weekly depreciations
- Cambodian Riel (KHR), -0.14%
- Vietnamese Dong (VND), -0.15%
- Lao Kip (LAK), -0.22%
- Thai Baht (THB), -0.30%
- Singapore Dollar (SGD), -0.58%
- Malaysian Ringgit (MYR), -0.61%
- Indonesian Rupiah (IDR), -0.80%
- Myanmar Kyat (MMK), -0.89%
