Asian economic growth is on the rebound and the main beneficiaries will be Thailand and Singapore, SocGen-Crosby's regional economist Neil Saker says. Mr Saker said the recovery in the region's economic cycle was being helped by an increase in world trade and a recovery in the global electronics industry. Asian stocks have performed poorly compared with their United States and European counterparts over the past year due to concern about slowing export growth. Mr Saker said there was now room for a rerating of many Asian markets as the pessimism over the effects of the slowing export growth had been overdone. 'There is still a lot of life left in Asian markets and the region can still outperform over the next decade,' he said. The rebound would be especially pronounced in the more open economies with a high gearing to electronics like Thailand and Singapore. He said Thai stocks would be boosted by improved sentiment this year, while an earnings-driven recovery would occur next year. The Stock Exchange of Thailand Index should see a rebound of about 10 to 15 per cent by the end of the year, he said. Further positive signs for Thailand were that inflation was trending down and the current account deficit would narrow to about 6 per cent this year. Mr Saker said the upswing in the electronics cycle would boost Singapore's gross domestic product (GDP) growth and could mean many GDP forecasts are on the low side.