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 2 October, all ten indices in Southeast Asia advanced, with Singapore’s Straits Times Index gaining the most, rising 2.22%. The Philippine Stock Exchange index on 3 and 4 October closed at all-time highs, before ending the week up 1.71% at 8,310.88.
The strong performance in most of the indices came during a week in which The World Bank announced its revised 2017 GDP forecasts for countries in Developing East Asia Pacific and Developing ASEAN, which excludes Singapore. The World Bank downgraded its GDP growth estimates for Cambodia, Indonesia, Laos, Myanmar, and the Philippines, while it revised upward its GDP forecasts for Malaysia and Thailand. Vietnam’s GDP forecast was unchanged.
Figure 1.1: Initial and revised gross domestic product (GDP) forecasts for 2017
|
Country |
Previous 2017 GDP Forecast (at April 2017) |
Revised 2017 GPD Forecast (at October 2017) |
| Cambodia |
6.9% |
6.8% |
| Indonesia |
5.2% |
5.1% |
| Laos |
7.0% |
6.7% |
| Malaysia |
4.3% |
5.2% |
| Myanmar |
6.9% |
6.4% |
| Philippines |
6.9% |
6.6% |
| Thailand |
3.2% |
3.5% |
| Vietnam |
6.3% |
6.3% |
Source: The World Bank
Also this week, the Nikkei and IHS Markit released the Nikkei ASEAN manufacturing PMI for September, which showed a reading of 50.3, indicating that manufacturing in the region continued to expand. The score of a 50.3, however, was down slightly from August’s rating of 50.4. The PMI reading in September exceeded that in August for Myanmar, the Philippines, Thailand, and Vietnam. The scores were lower month-over-month for Indonesia, Malaysia, and Singapore.
Weekly gains
- Singapore’s Straits Times Index (STI), 2.22%
- Lao Securities Exchange index (LSX), 1.76%
- Philippine Stock Exchange index (PSEi), 1.71%
- Stock Exchange of Thailand index (SET), 1.36%
- Cambodia Securities Exchange index (CSX), 0.94%
- Myanmar’s Myanpix index (YSX), 0.91%
- Kuala Lumpur Composite Index (KLCI), 0.48%
- Ho Chi Minh Stock Exchange Index (VNI), 0.42%
- Hanoi Stock Exchange Index (HNX), 0.30%
- Jakarta Stock Exchange index (JSX), 0.08%
Weekly declines
- None
Currencies
Four of the nine Southeast Asian currencies advanced relative to the US Dollar the week of 2 October, with the Myanmar Kyat having the greatest appreciation, increasing 0.15%. The Singapore Dollar, after reaching its year-to-date appreciation of 8.22% on 8 September, continued its weekly decline, falling 0.50%. The Philippine Peso depreciated 0.51%, bringing its year-to-date decline to 3.03%, which is the greatest decline year-to-date of the nine currencies.
Weekly appreciations
- Myanmar Kyat (MMK), 0.15%
- Cambodian Riel (KHR), 0.06%
- Vietnamese Dong (VND), 0.02%
- Lao Kip (LAK), 0.01%
Weekly depreciation
- Indonesian Rupiah (IDR), -0.24%
- Thai Baht (THB), -0.27%
- Malaysian Ringgit (MYR), -0.40%
- Singapore Dollar (SGD), -0.50%
- Philippine Peso (PHP), -0.51%
