Equities related to tourism see sell-off
Hotel stocks face B12bn loss this year
Tourism-related stocks were sold off to take profit on Wednesday following the first shipment of Covid-19 vaccines to the country in what analysts are calling “selling on fact”, after speculation in advance of shipment caused shares to surge over the past few weeks.
Analysts believe tourism-related stocks including hotel operators, airlines, airports and hospitals will face a loss of at least 12 billion baht this year, likely not seeing profits until 2022.
Asia Aviation (AAV)…