2018 was a grim year for equities all round, as only two exchanges in all of Asia Pacific — Mumbai and Wellington — ended the year with positive returns.
Shanghai, (-24.9%) for the year to Dec 27, was the world’s second-worst performer behind Athens (-25.5%).
But according to Nikkei editors Thailand, for example, who raised its key interest rate for the first time in seven years, is among Asian equity markets likely to attract buyers if investors rethink their portfolios as the U.S. economy slows and the Fed reviews its monetary policy.
Foreign investors were net sellers on the SET for the fourth year out of the past five (2016 was the exception with net buying of 77.9 billion baht).
But their net sales in 2018, at 287.45 billion baht, were more than 10 times the 2017 total of 25.75 billion, says the Bangkok Post.
For the year, Singapore and Philippine stocks also lost more than 10% each as trade tensions between the US and China sapped risk appetite and caused heavy capital outflows.
Indonesian stocks declined the least, falling about 2.5%.
Subscribe via Email
CLMV’s economic growth crashes to two-decade low due to COVID-19
The COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in...
Zero New Covid cases and deaths in Thailand
Thailand reported no new coronavirus cases on Sunday May 24th and no new deaths, but the Centre for COVID-19 Situation...
Thailand extends state of emergency for another month
Thailand’s Centre for COVID-19 Situation Administration (CCSA) has approved the proposal of the National Security Council to extend the country’s...
The Rapid Growth of Online Scam in South East Asia
Due to the coronavirus pandemic, more people are required to remain at home, spending more time on the internet and...
BoT cut rate to record low 0.5%
The Bank of Thailand cut the policy rate yesterday by 0.25 percentage points to a record low of 0.5%, saying...
COVID-19 Silver Lining : Asia sees unexpected gains in virus lockdowns
This year Thailand saw a 60 percent decrease nationwide in traffic accidents, with the death toll dropping to 167 from...