Which ASEAN manufacturing bases will benefit the most from the electric vehicles theme?

As the fallout from Archegos Capital appears contained and with US strong macro fundamentals hogging the limelight, capital markets moved to risk on environment, at least temporarily. This week, we assess if Malaysia’s central bank will likely tighten given their higher inflation outlook for 2Q21. With US 10 year treasuries closing out last Fri unchanged, will it continue to consolidate in this range and do we anticipate the current credit environment to re-attract ringgit bond flows? With strong news flow on electric vehicles, which manufacturing bases in ASEAN will benefit the most from this theme?

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