The region's markets are likely to plunge before surging in the second half of 2023, according to JPMorgan analysts.
Southeast Asia's market trajectory will be like that of a "bungee jump" in 2023, plunging before surging in the second half of the year, according to JPMorgan analysts.
That's likely to be characterized by a "sharp fall followed by a rapid increase in altitude followed by another decline until eventually markets come to rest at rock-bottom," analysts led by Rajiv Batra wrote in a report. They attributed that to weakened purchasing power in light of monetary policy tightening, lower savings and the higher cost of borrowing.
On top of that, China's expected relaxation of Covid restrictions is unlikely to offset the forecast plunge.Kevin Frayer | Getty Images News | Getty Images "The benefits from China's reopening will be offset by recessions in the developed markets," JPMorgan analysts told CNBC, adding that Southeast Asian markets have high exposure to exports and demand from the economies of developed markets.
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