So what other positive stories are left? We have political “stability” for the time being. Commodities continue to hold, thus the equities may eventually start to show higher pricing, as we’re seeing with coal names today. Reopening domestically is continuing, next is an international reopening? This could be a longer/messier process but then again we have been under this strange period since March last year. Yes 1.5 years of this rubbish.
Back to sectors, it’s obvious that the city center (anything around Siam/Silom/Sathorn/Sukhumvit) is dead but when you go to where most bkk habitants live, the malls/shops have started to wake up again and were full of foot traffic of the weekend. I expect to see this continuing.
And I still hold to a viewpoint that we should see a global demand recovery when flights begin internationally.
