Research on Thai Markets in general and the SET Index
Wonderful monthly letter by Pimco’s Bill Gross talking about the relationship of credit and asset prices with his pig example. Essentially he’s expecting headwinds for the stock markets with the removal of liquidity and thus credit by the Fed for the coming year. Asset prices are dependent on credit expansion or in some cases credit […]
Read More →Thailand Private businesses see a new government within 6 months, while both Federation of Thai Industry and University of the Thai Chamber of Commerce said that they will revise their forecasts to reflect the new information. (Krungtep Thrurakit, 03/02/14) Exporters seriously damage by the turmoil as distribution chains get interrupted, causing their cash conversion cycle […]
Read More →The rebound in banks that had kept the market afloat disappeared towards the end of last week and volume has been anameic for the market, with only some THB 20 bn traded (during 2Q13 daily volumes were hitting THB 80bn on some days). Elections have come and gone, the farce that they were, and the market […]
Read More →Byron Wein’s latest commentary is out and he’s advised to be prepared for a volatile here, here he reviews his 2013 surprises, his thoughts on emerging markets, the US economy, Japan’s “third arrow”, interest rates and so forth. See below for a snippet and a direct link to the article. In the second Surprise I thought […]
Read More →Thailand Ministry starts loan auctions, Legitimacy of decision in doubt – The Public Debt Management Office (PDMO) will kick-start the bridging-loan auction today in hopes of mobilizing funds to repay rice farmers by the end of this month. (Bangkok Post, 29/01/14) FTI: Manufacturing contribution to GDP to drop by 1% in 1Q14 — The Thai […]
Read More →There have been several articles going around that Emerging markets are in the beginning stages of 1997 Asian Financial Crisis part deux and how Thailand is going to yet again be affected. We’ve gone through each data point thrown our way but in the end we disagree for Thailand. Quite simply: I don’t see high […]
Read More →Out of curiouristy we did a quick backcheck of the past sectors that have driven the SET for the last 7 years. Upon seeing the results we do ask ourselves, why bother stock picking? We have to choose out of 550 companies a portfolio of 10 strong ideas, why not just pick a few strong […]
Read More →The market rallied strongly towards the end of last week driven purely by the Banking and Telco sector. We have our doubts on Thai banks attaining double digit growth rates for 2014, there’s no more corporate income tax to help the profit growth as there was in the past few years, and loan growth looks […]
Read More →Thailand EC head offers solution on FB — The head of the EC wrote on his Facebook account that there might be a solution to the current rice scheme problems, but the solution will have to wait until at least the 21st of this month before any action can take place. Rice farmers are angry […]
Read More →There’s been confusion amongst a lot of us about what on earth the State of Emergency means this time around. When the previous SoE was declared during the red-shirt riots, we had curfews and demonstrations were banned and the government and military enforced them. This time around these are the 5 measures for the State of […]
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