03.21.2014

Southeast Asia: Are Inflows Here to Stay or Storm Clouds Ahead?

03.21.2014
Terry Flanagan

The Southeast Asia region has been on the radar recently with the world searching for missing Malaysian Airlines Flight 370. On a more positive note, while Asian core exchanges declined broadly in March alone (HSI -6.95%, N225 -4.16%, ASX -1.23%), the Southeast Asian markets of Thailand, Indonesia and Philippines (TIP) have recorded year to date gains of +4.59%, +9.83% and +9.13% respectively in local currency. SGX is down -2.90% along with BURSA’s -2.53%. JSE is the region’s best performer with the SET rising +11.4% since the low of 1223 at the peak of the Bangkok lockdown. Price earnings ratios for SET today are around the 3 year average of 15.32, with JSE nearing at 21.4, nearing the May 2013 index high of 22.

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