Bualuang Securities (BLS) forecasts a bullish trend for the country’s equity market this year, predicting the Stock Exchange of Thailand (SET) Index to reach 1,550 points in line with the global V-shaped recovery.
The SET target is based on a price/earnings (PE) ratio of 18 times and earnings per share (EPS) at 86 baht per share, said Chaiyaporn Nompitakcha- roen, deputy managing director for BLS’s Non-Institutional Broking Group.
Global GDP growth this year is projected to hit 6.6%, led by China, whose economy has started to recover, with GDP growth there expected to reach 8.9%.
BLS forecasts the GDP of Asia ex-Japan to grow by 8.3%, while the US economy, which is expected to start recovery in the fourth quarter of 2020, is projected to see GDP growth of 5.5%.
“Global economies will pick up after the pandemic. Global trade and consumption will also accelerate as…
