Market Update 31/10
I’m finally happy with PTTEP. It’s been 2 years and now it’s finally being recognised…took the market long enough…banks #s are out, and surprise surprise, growth!!!!!!!!!! (in their profits), this trend is continuing…tourism? Have you seen the latest stats, already at 1.3 mn for the month of September. Run rate is already back to where it was pre-wuflu (excl chinese). The only “tourism” related play that isn’t doing well from this is CPALL, why? They were the main beneficiaries of chinese tourists going to buy water and snacks, very few other listed co’s genuinely benefitted directly from Chinese tourists.
Currency….still at 38….wow. The BoT doesn’t have the 8alls to raise rates…are that many military persons in debt?
peter satrapa-binder
why should the BOT increase rates?
– currently it’s not bad for tourism and exports
– i guess, yes, there are that many people in debt, yes. banks would probably get quite a lot more NPL if interest rates would increase.
– more expensive imports: well, maybe thailand would want imports to reduce somewhat. there has been a trade deficit recently, right?
so, i think there would be a few good reasons for not increasing the interest rate yet. maybe they will do it after the tourism high season is over, in the spring of 2023.
Pon
Because without a cost to money, then just look at europe and japan.
With a cost to capital, businesses will not just speculate, real trade/business happens again.
Let the overleveraged property/hotel players go bankrupt or raise equity.