We expect the SET Index to continue to be volatile. Russia’s war in Ukraine will remain in the spotlight, while investors will keep an eye on signals from the US Federal Reserve and the Covid-19 outbreak in China, which is forecast to peak soon. On the domestic front, earnings speculation will continue as the first-quarter reporting season winds down.
We forecast the aggregate first-quarter net profit of the SET to pale in comparison to the 270 billion baht recorded in the fourth quarter of 2021 once all results are in on May 17.
Among positive factors, the end of the Test & Go programme since May 1 is expected to boost tourist arrivals by making it easier to travel. Stocks of businesses that stand to benefit from more tourism look attractive, but we believe the market has…
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