Anyone else noticed that the Thai baht is back to 32? Easiest 4 month return in USD terms…and this applies to practically all Asian currencies. All it took was for the Chinese to come out of their lockdowns and be allowed to fly – by year end the country will be fully back to pre-covid tourism figures, now one can hope that this will translate into actual economic figures.
So, the story line continues since covid…
- Market share grab
- Bad debts.
- Nothing has really changed yet.
Though in 5 months we may have an election in this country, so we can add in a pre-election rally and the hope that the next administration will lead to a more pro-business environment for a period of time.
In the short term, I wouldn’t be surprised to see some announcement about…….a mourning period, I’m expecting it’ll be announced on the 1st Week of Feb. Until then, enjoy the market rally!