Global Equity Market Performance Update: ASEAN Equity Markets as co-Leaders

ASEAN equity markets are among the world’s best performers.

Below is an updated year to date chart from Bespoke Invest

Indonesia, the Philippines and Thailand has thus far ranked 5th, 7th and 10th respectively, while Malaysia ranked 18th has been down by 4.78%, a notch below another ASEAN member Vietnam (down –4.48%).

Of the 78 nations on the roster, there are only 11 gainers, whereas 22 nations, mostly from the Eurozone, are in a bear market.

Clearly global markets have now been biased to the downside…

…where 6 of the top 20 largest world equity markets have also been treading on bear territory.

The distribution of losses are almost similar to the broader picture, but the gains have not been represented since the latter are from emerging and frontier markets.

To add, the US and Canada appears to outperform the average, even if they are likewise enduring losses.

In my view, outside a real recession, and with major central banks pumping money furiously, the current complexion, characterized by the dreary outlook, will likely improve going to year end.