The SET continues to be amongst the best WORST performing markets in the world, what is it now? -22%+ in USD just this year alone? Well it’s DELTA driving the fear along with the industrials i.e. anything that doesn’t do well with high oil prices but the banks are holding and remember them saying no interest rate increases? hahaha…their NIMs are expanding, this will replenish their equity bases and they’ll happily recover from the covid-related bankruptcies. Now the only q is only whether the ROE can grow enough to a point where they can sustain a PBV above 1.0x.

It’s earnings season and so…let’s see how bad things have become…or has the market overreacted?

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