As of Friday morning Singapore time, Thailand's SET Composite index, Singapore's Straits Times' Index, the Jakarta Composite index as well as the Philippines' PSI Composite Index are still down more than 14% each for the year, according to data from Refinitiv Eikon.
. The city has also been rocked by issues beyond the coronavirus such as the passing of a controversial national security law.
"The better a country manages and recovers from the covid pandemic, the faster the economic recovery will be," said Cheo, who is chief market strategist for Southeast Asia at the firm. "There will be increasing differentiation for markets in Asia going into the second half of 2020, as the perils of the pandemic lingers on," the strategist said.
Liew said Malaysia and Vietnam are "the only ones" with Purchasing Managers' Index numbers showing expansion. While major indexes in both countries are still negative year to date, the two are also Southeast Asia's top performing markets for the year so far, according to Refinitiv Eikon.
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