“And Thailand has re-opened!

To 60+ countries!

Wait where are the tourists, why aren’t they here yet?

Ok sell all tourism plays. And let’s go for a drink”

That’s the conversation that the market is having.

We’re in the midst of earnings season…no surprises yet. There was a pop during the week for the property sector, but that’s a short term fix for 12 months and then reality kicks in again. We’re seeing condo prices -20-50% from pre-c19 thus far.

The Thai baht continues to fall and fall, its nearly -15% for the year. Thus despite the below showing that the SET is +12% for the year, its down in the eyes of international investors. I still wonder when the THB will change, C/A turning positive in the coming months? Let’s see, interesting times.