Thai brokerages upbeat on H1 for local markets

China’s reopening, continued inflows of foreign funds, and anticipated spending for Thailand’s national election scheduled for early May should put the Thai stock market in the spotlight in the first half this year, according to analysts.

Visit Ongpipattanakul, managing director of Trinity Securities, said this year capital inflows are likely to happen quickly as China reopening rejuvenates the Thai tourism sector and encourages economic growth.

Trinity projects China allowing cross-border travel to support Thai GDP expansion of US$3.4-4 billion this year, leading to GDP growth of 3.5-3.8%.

The Stock Exchange of Thailand (SET) index is approaching 1,700 points despite several risk factors such as rising interest rates, persistently high inflation, the Russia-Ukraine war and other geopolitical conflicts, he said.

The election should also improve market sentiment,…