Indonesia and Thailand to lead growth in Southeast Asia: HSBC

This as one of the two countries bounces back from a natural disaster.

HSBC Global Research said:

Southeast Asia will keep its stride. Indonesia and Thailand will lead growth, the former sustaining its now customary momentum, the latter bouncing back from a natural disaster.

Malaysia and the Philippines, too, will stand firm, though weak exports will affect them more. Fiscal spending across ASEAN should provide welcome support, helping to boost investment.

Meanwhile, Korea and Taiwan will feel the headwinds of tired Western consumers, even if both should avoid a recession. Singapore, too, will struggle a little, being exposed to both trade and finance, something that will also weigh on Hong Kong, even if here, at least, visitors from the Mainland will keep up traffic in the restaurants.