In a remarkable achievement, Thailand has been named the best-performing stock market in the Asia Pacific region for 2016 by Bloomberg. The Thai SET50 Index posted an impressive 18.8% year-to-date return, driven by a sharp decline in oil prices, which bolstered the country’s current account surplus and stabilized the local currency. This economic stability enhanced the attractiveness of Thai stocks to foreign investors.

Indonesia followed, with its Jakarta Composite Index rising by 16%, while Vietnam’s Ho Chi Minh Stock Index saw a 14.7% increase. Taiwan also performed well, with its Taiwan Stock Exchange Weighted Index growing by 10.79%.

In stark contrast, China’s CSI 300 Index fell by 11.5%, plagued by continuous capital outflows and a depreciating renminbi. Malaysia also struggled, with the FTSE Bursa Malaysia KLCI dropping by 3.4% due to the recurring defaults of the government-owned 1MDB fund. The Philippines Stock Exchange PSEi Index also experienced a decline of 1.6%.

Thailand’s robust performance amidst these regional challenges underscores its effective economic strategies and resilient market conditions.