• YTD the SET is +8% in local currency terms, but the THB has dropped some -10% versus the USD this year, with most of the decline starting since mid June.
  • COVID COVID COVID. That’s all I’m seeing in the news. And the government reacts in the same way, oddly (:p) at the same time when protests are picking up. And yes I do understand that the hospitals are packed. BH said on a call that they request 300k THB upfront cash payment from customers for a room now. (though I’ve heard the number range from 200-500k). What example may we look at it for this D-version of the wuflu – india. let’s see in the next few weeks where the figures end up. These additional lockdowns are just going to exacerbate market share going to a few players.
  • It’s earnings season, banks are out and everyone (excl TTB) looks great YoY, only TISCO and KKP are decent/flat QoQ, the rest were down mid-teens.

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