Market Update 16/10
Well I’m writing this just at the open for the afternoon session, and wow rates > srettha being a fantastic salesman narrative. How many margin calls are we seeing by management/owners today?
There seems to be a lot of fear that several companies can’t roll over their debentures – hello magnolia! yes you’re effectively bankrupt entity with a THB 60bn hole that can’t be found, and the equity is worth zilch. My viewpoint – the small & weak will be dead….the large and/or stable will find ways to raise capital but at a higher cost.
Back to the markets…include the drop in USD/THB, Thailand is now -20% for the year. Well done.
I’m still on the commodity bandwagon…and more wars don’t dampen this sentiment…look for the service providers, there’s not many in Th, but you’ll find 1 or 2 that will make fortunes from the capex from PTT group.
![](https://i0.wp.com/www.thaicapitalist.com/wp-content/uploads/2023/10/00sum-2.png?resize=722%2C784&ssl=1)
![](https://i0.wp.com/www.thaicapitalist.com/wp-content/uploads/2023/10/01charts-2.png?resize=750%2C1456&ssl=1)