While The Baht Is Outperforming, Thailand’s Stocks Are Worst Among Asian Peers

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While The Baht Is Outperforming, Thailand’s Stocks Are Worst Among Asian Peers

By Surbhi Jain

 

Thailand: Asia’s best-performing currency, but worst performing market

 

The Thai baht has strengthened by about 7% against the greenback so far this year, beating all other Asian currencies. It is, undoubtedly the best performing Asian currency so far this year. However, its stock market tells a contrarian story.  Despite is being up 10.88% YTD, Thailand’s stock market is the worst performing Asian market YTD.

The table below lists stock market performances for the various Asian markets, YTD (as of August 24). We’ve taken the most popular ETF tracking that region’s equities for reference.

 

Ticker	US Exchange-traded Fund	YTD % (as of August 24)
THD	iShares MSCI Thailand Capped ETF	10.88%
EPHE	iShares MSCI Philippines ETF	11.26%
EIDO	iShares MSCI Indonesia ETF	12.64%
EWM	iShares MSCI Malaysia ETF	14.36%
EWS	iShares MSCI Singapore Capped ETF	23.73%
FXI	iShares China Large-Cap ETF	25.35%
EWT	iShares MSCI Taiwan Capped ETF	26.46%
EPI	WisdomTree India Earnings ETF	29.01%
EWY	iShares MSCI South Korea Capped ETF	29.37%

 

Thailand’s stock market is up 10.9% YTD; still lagging

The Thai equity tracking iShares MSCI Thailand Capped ETF (THD) is up 10.9% YTD (as of August 24), while equity markets of other Asian (AAXJ) (VPL) economies such as South Korea (EWY) and India (EPI) are up 29.4% and 29%, respectively. Some of the largest stocks (by market capitalization) trading on the Thailand Stock Exchange has recorded dismal performance so far in 2017. 

 

Full story: https://fronteranews.com/news/while-the-baht-is-outperforming-thailands-stocks-are-worst-among-asian-peers/

 

-- FRONTERA 2017-08-28

[Lupatria]

Let the glorious army have its stock market launch and become filthy rich in no time.

[eliotness]

The "elite" need a strong Baht so they can get their money out to a "safe haven" ,  but in the meantime agricultural produce for export has suffered a dramatic fall in value for the farmers.

[Jonnapat]

I remember from personal experience 15 years ago when both the Thai and Indonesia markets were level at around 600 points .

Now the Indonesia market is 400% higher than the. Thai bourse.

[Jonmarleesco]

The only way for the Baht to have outperformed over recent years, through events that should, by rights, have sorely tested it, has been courtesy of currency manipulation. And it's hardly gained against the USD or Sterling; they've lost value.