Daily Briefing: ThaiBev Singapore’s best 2016 stock; Cathay Pacific slump makes SIA look good

And Temasek buys stake in French investment firm.

Thai Beverage Pcl has jumped 37 percent to a record in 2016, benefiting from rising consumption in Thailand, where stimulus and low interest rates have driven the benchmark index to the highest level in almost a year. Singapore’s equities market, by contrast, is a laggard in Southeast Asia, suffering from lackluster growth at banks, developers and oil-rig builders. Read more here.

The onslaught of Asian budget airlines has dented the fortunes of the region’s premium carriers, Cathay Pacific Airways Ltd. and Singapore Airlines Ltd. Cathay has been worst hit, with its stock tumbling 41 percent in the past 12 months amid competition from mainland Chinese carriers, while Singapore Air has lost 4.8 percent. Find out more here.

Singapore’s state-owned investment firm Temasek Holdings Pte has invested in French asset manager Tikehau Capital Partners as it expands investments in Europe. Temasek was among investors injecting a total of 510 million euros ($567 million) in Tikehau Capital Partners and its holding company as part of two capital increases, the Paris-based firm said in a statement. Read more here.