Global financial services firm J.P. Morgan has upgraded its rating for Thailand’s stock markets to overweight from neutral because of returning Chinese tourists, with the SET Index forecast to hit 1,800 points this year.
The recovery of Chinese tourism will boost business sentiment and consumer confidence in Thailand, while offsetting the impact of a global economic slowdown, said Marco Sucharitkul, senior country officer at J.P. Morgan Thailand.
“China reopening earlier than was expected is a key catalyst for our bullish outlook for Thailand equities,” he said on the sidelines of…
