SET index showing signs of recovery

We seemed to start the year on the wrong foot as a second wave of Covid-19 hit Thailand with a much stronger punch than the initial outbreak.

New cases from the recent wave averaged 300-400 per day and peaked at more than 1,000 per day in late January. Total cases now top 24,000, up from just over 4,000 in mid-December.

Although the number of new cases appears concerning, the clusters are largely confined to two provinces: more than 15,000 cases in Samut Sakhon and almost 2,500 in Bangkok. Much smaller infection numbers have been reported elsewhere, and only 80 people have died since the pandemic began.

While the lockdowns resulting from the second wave were generally less restrictive than during the first wave, the impact looks to be more severe as economic conditions were already fragile. The recovery had only just begun, and…