The Thai stock market ended August at almost 5 month high just below the 700-level as foreign investors continued the two previous months’ net buying.
Thailand’s Phatra Securities and US-based Merrill Lynch point out “Our outlook for the remainder of the year continues to be positive, and we have revised up our 12 month SET index target to 880. Including a 4-5% dividend yield, this implies about 30% upside for equities in Thailand.”
Current Account turns positive in July
The current account–the main drag on the economy this year-turned positive in July, after record high deficits in the previous three months. However domestic sentiment hit new lows as the effect of lifting the diesel price subsidy and higher good prices are now being felt with August head line and core inflation increasing to 5.6% and 2.3% YoY respectively.
Thailand’s Phatra Securities and US-based Merrill Lynch point out “Our outlook for the remainder of the year continues to be positive, and we have revised up our 12 month SET index target to 880. Including a 4-5% dividend yield, this implies about 30% upside for equities in Thailand.”
Current Account turns positive in July
The current account–the main drag on the economy this year-turned positive in July, after record high deficits in the previous three months. However domestic sentiment hit new lows as the effect of lifting the diesel price subsidy and higher good prices are now being felt with August head line and core inflation increasing to 5.6% and 2.3% YoY respectively.