It’s a short week for the Thai market, 2 public holidays, and the case #’s continue hitting new highs. Market participants have been telling me that no one would be surprised if the daily case figures hit 20k, therefore I interpret this that there is no shock factor left, and with a special someone’s birthday on Wednesday, some say that perhaps case #’s will begin to decline afterwards.
At the end of the day, its still 2Q earnings season until mid August. Banks were better than consensus, wouldn’t be surprised to see this trend continue over the next 3 weeks. One potential additional downside is an extension of lockdowns, though judging by the test/case ratio, it’s fairly obvious that lockdowns don’t work.
Random observation, saw a fleet of army trucks flowing into Bangkok on Monday (26), prep for Wednesday (28) or ?