Electronics -20% YTD? That’s DELTA. But look the market is only -2%.

But, as always, the pressure is in the currency still with the USDTHB -5% ytd….

I still have the same bull and bear arguments in my mind… bull…an improvement in governance from a decade of incompetent military governance, full tourism recovery, FDI pick up; the bear…valuations, interest rates continuing to increase, Thailand hitting the international bond market for the first time in decades.

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