The Stock Exchange of Thailand (SET) index could potentially plummet below the 1,300-point mark this year, warns the CEO of One Asset Management (ONEAM), Pote Harinasuta. This alarming projection is associated with the government’s proposed digital wallet handout which could result in Thailand’s credit rating being downgraded and a subsequent hike in corporate borrowing costs.
Key factors that could influence investments this year, according to Pote, include the anticipated US interest rate cut, which could stimulate capital inflows to the SET. We anticipate Thai interest rates being cut once or more in the second half of 2024 if the US significantly lowers its rates, he stated.
In addition, geopolitical risks are also a significant concern that require monitoring. The ongoing conflicts in Russia-Ukraine and Israel-Hamas, as well as the persistent tensions between the US and…
