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Asean equities steal the spotlight with a second-half surge, driven by growth and financial stocks

After a rocky start to the year, key indices across the region have outshone amid global market volatility

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Crystal Heng

Crystal Heng

Published Tue, Oct 1, 2024 · 05:00 AM
    • Within Asean, stock performance is varied, with Vietnam leading the way with a 14.1 per cent year-to-date gain.
    • Within Asean, stock performance is varied, with Vietnam leading the way with a 14.1 per cent year-to-date gain. PHOTO: PIXABAY

    FOLLOWING a volatile first half, Asean stocks rebounded sharply in the second half of the year, propelled by the Federal Reserve’s recent rate cuts as investors flock to regional markets seeking attractive dividend yields and stability amid global monetary shifts.

    The MSCI AC Asean Index, which tracks the performance of mid and large-cap companies across Singapore, Indonesia, Malaysia, Thailand and the Philippines, is up close to 16 per cent year to date as at Monday (Sep 30).

    Prospects for the final quarter appear sanguine.

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