India moved up the ranks this last week, taking the place of Thailand which dropped 2 spots. Otherwise, Indonesia and Philippines continue to hold their top spots.
Interestingly, this trading of places between Thailand and Indonesia are both largely politically driven. This week saw strong and favourable results in India's election whilst further and potentially escalating political unrest and deadlock in Thailand.
The look back rankings compared to last week and last month is as follows:
(nb. 1 indicates strongest momentum).
The following charts show YTD performance (vs. the Bloomberg Asia Pacific Index BWORLDPR) and current market allocations:
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