HTI东南亚消费行业6月跟踪报告：区域经济增长表现超预期，消费指数表现有所回落

Investment Rating - The report provides various investment ratings for companies in the consumer staples sector, with notable mentions including "Outperform" for China Feihe, Haidilao, and others, while Budweiser APAC is rated "Neutral" [2]. Core Insights - The Southeast Asian economy is showing signs of recovery, with GDP growth in countries like Singapore (2.9%), Vietnam (6.9%), and Malaysia (5.8%) exceeding expectations in Q2 2024 [4][6]. - Consumer Price Index (CPI) trends indicate a mixed performance across the region, with inflation rates in June 2024 showing a decline in several countries, including Indonesia (2.5%) and Singapore (2.4%) [8][12]. - Retail sales and consumer confidence indices are showing varied results, with Indonesia's retail sales index growing by 5.1% year-on-year, while Thailand's consumer confidence index has weakened [4][21]. Economic Data Summary - GDP growth rates for Q1 2024 in Southeast Asia were as follows: Indonesia (5.1%), Singapore (2.7%), Philippines (5.8%), Malaysia (3.9%), Thailand (1.5%), and Vietnam (5.7%) [6]. - In Q2 2024, GDP growth rates further improved in Singapore (2.9%), Malaysia (5.8%), and Vietnam (6.9%) [4][6]. - CPI data for June 2024 showed inflation rates of 2.5% in Indonesia, 2.4% in Singapore, 3.7% in the Philippines, 2.0% in Malaysia, 0.6% in Thailand, and 4.3% in Vietnam [8][12]. Market Performance - The consumer sector indices in June 2024 showed mixed performance, with Vietnam's consumer staples outperforming the market, while Thailand and Singapore's consumer sectors lagged [4][12]. - The report highlights that the retail index in Malaysia for May 2024 was 179, indicating a year-on-year increase [10]. - Notable stock performances included Multistrada (+12.7%) and MR DIY (+7.2%), while companies like Thai Beverage and Siam Global House faced declines [13].