ASEAN Macro Daily(Beta Mode)
Rupiah Weakens, Stocks Climb
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| JCI | 7,458.50 | +2.07% |
| SET | 1,506.84 | +1.15% |
| KLCI | 1,691.31 | +0.30% |
| PSEi | 6,098.21 | +0.14% |
| STI | 4,989.41 | +0.25% |
| USD/IDR | 17,083.00 | +0.14% |
| USD/THB | 31.98 | -1.05% |
| USD/MYR | 3.98 | -0.08% |
| USD/PHP | 60.10 | +0.29% |
| USD/SGD | 1.27 | -0.43% |
| Brent Crude | 98.20 | +3.15% |
| Gold | 4,780.50 | +0.39% |
| Bitcoin | 74,502.14 | +5.30% |
| Indonesia 10Y Govt Yield | - | - |
| Thailand 10Y Govt Yield | - | - |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
US Fed Funds vs ASEAN Rates | Type: macro_line | US Fed Funds: 3.64 (2026-03-01) | Range: 0.06–5.33 | Trend(5pt): 0.06,1.68,5.33,4.64,3.64 | Indonesia Policy Rate: 3.96 (2026-02-01) | Range: 2.79–6.3 | Trend(6pt): 2.8,2.79,5.6,6.12,3.77,3.96
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| GDP Growth Quarter-over-Quarter Advance Estimate | 2.10 | -0.50 | 20:00 |
| Inflation Rate Month-over-Month | 0.20 | - | 00:00 |
| Inflation Rate Year-over-Year | 1.40 | 1.70 | 00:00 |
- Indonesian rupiah slid to 17,083 amid oil price surges and global tensions, pressuring BI's defense strategies.
- ASEAN equities rose, led by Indonesia's JCI up 2.07% on commodity optimism, while currencies showed mixed performance against USD.
- Malaysia's growth outlook upgraded to 4.6% by ADB, highlighting investment and domestic demand resilience.
Yesterday's Recap
ASEAN markets closed positively on April 12, with Indonesia's JCI surging 2.07% to 7,458.50, driven by commodity export gains amid rising Brent crude prices at $98.20 (+3.15%). The rupiah weakened 0.14% to 17,083 against the USD, reflecting pressures from oil above $100 and external risks like potential Hormuz disruptions, as noted in BI assessments. Thailand's SET gained 1.15% to 1,506.84, supported by baht appreciation of 1.05% to 31.98 versus USD, though finance ministry warnings highlighted limited economic tools amid energy crises.
Malaysia's KLCI rose 0.30% to 1,691.31, aligning with ADB's raised 4.6% GDP forecast for 2026, bolstered by FDI in semiconductors. Philippines' PSEi edged up 0.14% to 6,098.21, despite peso depreciation of 0.29% to 60.10, while Singapore's STI increased 0.25% to 4,989.41 with SGD strengthening 0.43% to 1.27. Vietnam was not prominently featured in moves, but regional themes like supply chain shifts from China supported manufacturing sentiment.
Gold rose 0.39% to 4,780.50 as a safe haven, and Bitcoin jumped 5.30% to 74,502.14, influencing broader ASEAN crypto flows.
The Day Ahead
Investors eye Singapore's advance GDP growth quarter-over-quarter estimate at 20:00 ET on April 13, with consensus pointing to a contraction of -0.5% from previous 2.1%, potentially signaling slowdowns in the financial hub amid global trade headwinds. Malaysia's inflation data, including month-over-month and year-over-year rates, is slated for April 17 at 00:00, with YoY consensus at 1.7% versus prior 1.4%, which could influence BNM's stance on ringgit stability. No major releases are scheduled for Indonesia, Thailand, Philippines, or Vietnam today, allowing focus on ongoing FX dynamics.
Tomorrow, April 14, features no new events, though calendar data notes a potential revisit of the Singapore GDP figure from April 13. Broader events may include monitoring oil volatility's impact on commodity exporters like Indonesia.
Other Economic Notes
World Bank downgraded Indonesia's growth forecast to 4.7%, citing job availability declines and rupiah pressures, yet oil prices above $100 offer mixed benefits through export revenues offset by import costs. Thailand faces economic restructuring needs amid energy crises, with finance ministry pushing investment reforms and campaigns like used cooking oil exchanges to mitigate fuel costs. (cont...)
