ASEAN economic optimism lifts consumer confidence and draws private‑equity scrutiny

The UOB ASEAN Consumer Sentiment Index held steady at 54 in 2026, indicating overall optimism across the region despite geopolitical tensions and rising oil prices. Singapore posted the strongest improvement, with its index rising nine points to 56, while Thailand also saw a pickup. The macro‑sub‑index rose to 61, reflecting confidence in the broader economic outlook, even as the personal‑finance sub‑index slipped slightly to 51.

At the same time, private‑equity firms that built experience in China are expanding into Southeast Asia, attracted by growth in electric‑vehicle, battery, logistics and digital consumer services. Firms from South Korea, Japan, Greater China and Singapore are investing in Thailand, Indonesia, Vietnam and other markets. South Korea’s MBK Partners, for example, has acquired stakes in Beijing‑linked automotive groups such as Beijing Automotive Group and eHi Car Services, prompting calls for closer scrutiny of regional private‑equity activity given its ties to state‑controlled networks.