We expect the SET Index to be volatile in May given the upcoming general election, earnings reporting season and market reaction to the Federal Reserve meeting.
On the external front, key Chinese reports have been positive, which raises market expectations for the broader economy.
Expect some earnings speculation as we forecast aggregate first-quarter net profit for SET-listed companies to surpass the 150 billion baht recorded in the fourth quarter of 2022 despite several headwinds.
We expect the Chinese government to introduce more stimulus measures to keep the recovery momentum going in the economy after three years of Covid-linked restrictions. Recent upbeat economic reports will bode well for equities.
The Fed, meanwhile, this week raised its benchmark interest rate by…
