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Most Asean economies to see accelerated GDP growth, above-average earnings gains: Goldman

Angela Tan

Angela Tan

Published Wed, Nov 17, 2021 · 08:28 AM

    MOST Asean economies are likely to see accelerating gross domestic product (GDP) growth and above-average earnings gains as they recover from Covid setbacks, Goldman Sachs said at its 2022 outlook media roundtable.

    The US investment bank has upgraded Indonesia and Singapore to overweight, and Thailand to market weight.

    "After 10 years of chronic under-performance of Asean against the region, valuations are generally at the lower end of their 20-year ranges and compare favourably to the rest of the region," said Tim Moe, chief Asia Pacific equity strategist at Goldman Sachs.

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