Southeast Asia stocks’ time to shine finally arrives

The MSCI Asean Index has surged 14% in an eight-day winning streak, almost double the 7.4% rally in the MSCI Asia Pacific Index over the same period.

SINGAPORE: Southeast Asian stocks, hit particularly hard by the shutdown of tourism and other service industries, are making a comeback as optimism grows over a return to travel.

The MSCI Asean Index has surged 14% in an eight-day winning streak, almost double the 7.4% rally in the MSCI Asia Pacific Index over the same period. At its highest since March, the gauge of Southeast Asian shares has narrowed the gap with its peers but still remains down about 14% for the year. The broader Asian gauge is up 8%.