Comments:

We decided to expand this weekly update to include the relative valuations of each industry sector as it will help to highlight why certain industries are more attractive.

The SET continued to gain very strongly in the first week of December buoyed by silly news in Europe that the crisis will magically come to an end. You can see via the relative valuations as to why we find the resources sector to be far more compelling versus other sectors in the SET. The technology sector (includes telecoms ADVANC, DTAC) was weaker despite the strength in the SET, could this be the start of a downtrend?