So what other positive stories are left? We have political “stability” for the time being. Commodities continue to hold, thus the equities may eventually start to show higher pricing, as we’re seeing with coal names today. Reopening domestically is continuing, next is an international reopening? This could be a longer/messier process but then again we have been under this strange period since March last year. Yes 1.5 years of this rubbish.

Back to sectors, it’s obvious that the city center (anything around Siam/Silom/Sathorn/Sukhumvit) is dead but when you go to where most bkk habitants live, the malls/shops have started to wake up again and were full of foot traffic of the weekend. I expect to see this continuing.

And I still hold to a viewpoint that we should see a global demand recovery when flights begin internationally.

  1. just some thoughts, Khun Pon: I understand that you are just wondering out loud about a domestic/international travel recovery. I am extremely pessimistic about what winter will bring, to the western hemisphere. Maybe Covid is a particularly deadly version of the old fashioned flu. My expectation is that with everyone locked up at home, over winter, it’s going to come roaring back. just an opinion.

    • I put hope in/have expectations that Western Societies won’t be so limp against their governments.

      And that yes perhaps the next 3 months will be bad for european/american traveling, which then leads to more smaller hotel groups/operators going bankrupt/shutting down => more market share to the big players which are generally listed entities.

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