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ASEAN growth story holds potential for some SGX stocks

Despite challenging economic conditions amid the US-China trade war, ASEAN continues to see resilient growth on the back of manufacturing diversification, trade diversion and favourable demographics, said analysts.

With a population of close to 650 million and a rapidly growing middle class, ASEAN is poised to become the fourth largest single economy in 2030, behind Europe, US and China.

Analysts are therefore pointing to a number of Singapore Exchange (SGX)-listed stocks that may ride the ASEAN growth story, particularly in sectors driven by domestic demand and consumption.

 

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