iShares MSCI Thailand ETF outperforms ASEAN peers with 38% returns despite economic headwinds.

The iShares MSCI Thailand ETF, covering 82 Thai stocks, has delivered nearly 38% total returns over the past year, outperforming other ASEAN country ETFs significantly. Its strong performance is partly due to heavy exposure to Delta Electronics, an AI hardware company, although this also introduces risk from profit-taking given high valuations. Thailand's economic outlook is weakening, with GDP growth expected to fall below 2% for the first time in three years and a less favorable currency outlook. While the ETF trades above key moving averages, it faces resistance near a downward trend, suggesting caution for investors.