Stock market analysts have revised down the Stock Exchange of Thailand (SET) index target this year after the index dropped to a three-month low of around 1,470 points, though they noted that further downside is now limited.
Kasikorn Securities (KSEC) has adjusted its SET index target to 1,544 points by the end of 2023, down from 1,666 points projected earlier.
“KSEC has a more cautious view on rising bond yields, which are expected to drag down the price-to-earnings ratio of the Thai stock exchange,” it said.
“It is expected that Thailand’s interest rates will continue to rise due to inflationary pressure from high oil prices, and a larger government budget deficit to support economic stimulus measures, which…
