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Credit Suisse sees ASEAN currencies performing well this year

Following a downward trend against the US dollar last year, ASEAN currencies are expected to perform well this year, according to Credit Suisse in its ASEAN Market Strategy Outlook 2022. Current accounts should remain strong for most ASEAN markets even as stronger growth could pressure import bills, the report added. Credit Suisse also ranks Malaysia second in its aggregate Asia Pacific scorecard and first on valuations. The ringgit also features strongly on currency metrics. However, the financial firm said Malaysia lacks the structural potential of Indonesia and the Philippines, and the country’s politics remain complex. Except for Thailand, Credit Suisse is maintaining “overweight” positions in ASEAN stock markets.

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