Any improvement in the Covid-19 situation this month will probably take a back seat to investor concerns about the gloomy economic outlook.
But if it turns out that the third Covid wave in Thailand has indeed peaked and vaccinations start to pick up, we see the SET Index gradually moving higher after a heavy sell-off in May.
The market could also get a lift from speculation about second-quarter earnings, which should kick in around late June, ahead of the first reports from banks and commodity-focused companies in mid-July.
Also helping sentiment will be improving conditions in major economies that have brought Covid under control, vaccinated millions and relaxed entry restrictions. The improved outlook in major trading partners helped boost Thai exports by 13% in April, which should be a key growth driver for the Thai economy in…
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