ASEAN Speaks

In this week’s Highlight, we look into Indonesia consumer stocks and feedback from investors at our recent marketing trip in Singapore. Willy Goutama, Analyst at Maybank Sekuritas, speaks to Winson Phoon. For the full conversation with other analysts, go to the latest Weekly Briefing episode on ASEAN Speaks.

Singapore’s manufacturing worsened in May indicating a technical recession is probable. Vietnam’s 2Q GDP gathers pace but is still lackluster. Meanwhile for equities, Indonesia continues to be a bright spot, based on feedback at Maybank’s Invest ASEAN conference. We look at positioning for further growth, and our stock picks in other markets without re-rating catalysts yet.  00:31 - Roundup - Winson Phoon  04:37 - SG technical recession - Brian Lee 07:36 - VN GDP, interest rate - Brian Lee 11:55 - FX forecast revisions - Saktiandi Supaat 19:21 - ASEAN equities - Anand Pathmakanthan 21:37 - MY equities, state elections - Anand Pathmakanthan 23:05 - ID equities - Jeff Chen Lim 24:39 - ID consumer - Willy Goutama 28:36 - PH retail picks - Daphne Sze

Inflation has been easing in Malaysia and Singapore - is this enough to pause further central bank actions? And for ASEAN, the elephant in the room question - does China need more measures to turbo charge its economy? Meanwhile, looking at the top currency trades - will the USDJPY continue to move higher? Also, will the Ringgit continue to slide? 00:30 - Roundup - Suhaimi Ilias 04:56 - SG inflation - Chua Hak Bin 08:49 - MY inflation, OPR - Zamros Dzulkafli 12:34 - PH interest rate - Zamros Dzulkafli 15:45 - CN interest rate - Brian Lee 17:45 - CN stimulus - Brian Lee 20:00 - CN GDP - Brian Lee 23:23 - MY bonds - Winson Phoon 27:01 - USDJPY - Saktiandi Supaat 30:26 - USDMYR - Saktiandi Supaat 33:23 - PH equities (Invest ASEAN) - Jacqui de Jesus Producer: Noelle Lim, Maybank IBG

The Federal Reserve has decided to hold interest rates steady at its policy meeting. What would this mean for Malaysia and the other regional markets? Chua Hak Bin, Co-Head of Macro speaks with our analysts. 00:20 – Roundup – Chua Hak Bin 03:06 – Fed dot plot - Suhaimi Ilias 05:25 – BNM OPR, GDP – Suhaimi Ilias 09:44 – China economics – Brian Lee 15:15 – Indonesia economics – Lee Ju Ye 17:56 – Regional equities – Anand Pathmakanthan 22:21 – PH malls - Miguel Several Producer: Noelle Lim, Maybank IBG

In today’s Highlight, banking analyst, Desmond Ch’ng discusses if we should still stay invested in Malaysian banks as interest rates fall. Co-Head of Macro, Chua Hak Bin moderates the call. For the full conversation with other analysts, go to the latest Weekly Briefing episode on ASEAN Speaks.

Headline inflation rates in ASEAN-6 economies appear to have peaked and are moderating. Latest monetary policy actions by ASEAN central banks except for Vietnam indicate they are still cautious. 00:22 - Roundup - Chua Hak Bin 02:33 - ASEAN inflation - Suhaimi Ilias 07:38 - ASEAN interest rate - Suhaimi Ilias 09:15 - ASEAN monetary policy - Suhaimi Ilias 10:40 - BNM governor - Suhaimi Ilias 11:13 - TH inflation - Lee Ju Ye 13:42 - TH China impact - Lee Ju Ye 14:49 - MY banks - Desmond Ch’ng Producer: Noelle Lim, Maybank IBG

In today’s Highlight of our Weekly Briefing, Anand Pathmakanthan, Head of Equity Research in Malaysia unpacks the first quarter earnings, which have been disappointing. Will the second half of the year be better? Suhaimi Ilias speaks with him. To learn more, download the Malaysia 1Q23 Results Roundup report from our trading platform. For the full conversation with other analysts, go to the latest Weekly Briefing episode on ASEAN Speaks. Producer: Noelle Lim, Maybank IBG

Our analysts present forecast revisions - Vietnam’s GDP, US dollar, our year end KLCI target - and also consider undervalued plays in Thailand’s energy and retail sectors.  00:20 - Roundup - Suhaimi Ilias 06:53 - TH interest rate - Lee Ju Ye 09:17 - ID inflation - Lee Ju Ye 11:28 - VN GDP - Brian Lee 14:10 - USD, Euro, CNY - Saktiandi Supaat  19:00 - USDMYR - Saktiandi Supaat  21:48 - MY 1Q earnings - Anand Pathmakanthan  25:46 - TH energy - Chak Reungsinpinya 29:22 - TH retail - Suttatip Peerasub

As momentum builds up towards COP28 that will take place in the UAE, we discuss with Robert Stavins,  A.J. Meyer Professor of Energy & Economic Development, at the Harvard Kennedy School, on the realities of climate talks, and what could take centrestage, and the progress of the loss and damage fund. We also discuss how ASEAN could elevate its voice in climate negotiations. Stavins was in Singapore and gave the inaugural Albert Winsemius Lecture at the Nanyang Technological University. Presenter & Producer: Noelle Lim, Maybank IBG

In the Highlight of our Weekly Briefing, Saktiandi Supaat, our Head of Forex Research shares his findings on what may happen to currencies when the Fed cuts rates. To learn more, go to our ASEAN x Macro report, The Pivot Play and an Event Risk That Looms. And for the full conversation with other Maybank analysts, go to the latest Weekly Briefing episode on ASEAN Speaks.