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ASEAN-5 Portfolio Investment (2016–2024)

(Source) IMF International Financial Statistics, Central bank reports and online databases from Bank of Thailand, Bank Negara Malaysia, Bank Indonesia, Bangko Sentral ng Pilipinas, and State Bank of Vietnam.
(Source) IMF International Financial Statistics, Central bank reports and online databases from Bank of Thailand, Bank Negara Malaysia, Bank Indonesia, Bangko Sentral ng Pilipinas, and State Bank of Vietnam.

This chart compares cumulative net portfolio investment (inflows/outflows) in five ASEAN countries over the period from 2016 to 2024.


Key Points:

  • Indonesia stands out as the only major net gainer, attracting around USD 80 billion in cumulative inflows.

  • Vietnam also recorded modest positive inflows, signaling growing investor confidence.

  • Thailand, Malaysia, and the Philippines suffered significant outflows, with Malaysia (approx. –USD 70 billion) and Thailand (approx. –USD 60 billion) leading the decline.


Implication:

Portfolio investors have clearly discriminated among ASEAN markets based on perceived macroeconomic stability, policy consistency, and risk appetite. Indonesia's relative strength suggests resilience and attractiveness, while others may need to reform capital markets and governance frameworks to reverse outflows.

 
 
 

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