Wednesday, October 17, 2012

Stocks shine as Thais, Filipinos nurture stability

The two Asian nations with the region's best performing stock markets in the past year are unlikely havens for global investors: Thailand and the Philippines.

Both are better known for troubled politics but have outshone higher-octane neighbors as new leaders nurture relative calm.

The PSE benchmark in the Philippines has soared 29 percent. Thailand's SET index is up a whopping 33 percent.

By contrast, an index compiled by MSCI that tracks stocks in 12 Asian countries is up a ho-hum 2 percent.

The Philippines, long blighted by a succession of deeply corrupt governments, has gained a measure of credibility due to the stability ushered in by the 2010 election of President Benigno Aquino III.

Thailand too has benefited from an improvement in its politics.-The Philippine Star (October 17, 2012 4:46PM)

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