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JP Morgan sees the Thailand SET as the most attractive in region

SET Thailand forecast

According to JPMorgan Chase & Co., an American multinational financial services company, the Thai stock market is the most attractive in Southeast Asia due to the country’s robust tourism recovery, which includes an anticipated increase in Chinese tourists, and strong domestic demand for consumer goods.

The Stock Exchange of Thailand (SET), according to Jakkapun Pornpunnarath, head of JPMorgan’s Thai equities research, has emerged as the company’s top choice in Southeast Asia.

He cited active trading in Thai stocks in the run-up to the upcoming general election later this year as well as the successful operations of many listed companies.

A strong Thai baht, which is rising in parallel with the tourism revival, could boost profits for equities investors, according to the JPMorgan executive.

Jakkapun gave an interview to the news organization Bloomberg, which released its story on Thursday.

According to JPMorgan, Chinese travelers would contribute to doubling Thailand’s tourism earnings this year, to US$39 billion (1.36 trillion baht), or 6% of the nation’s GDP.

The multi-national financial behemoth also forecast that as many as 26 million foreign tourists would visit Thailand this year. This represents about 65% of the 40 million tourists who visited Thailand in 2019, the year prior to the Covid-19 pandemic, which affected the world’s tourism industry, and represents a significant increase.

The SET Index is anticipated to rise by 7% this year to a new high of 1,800 points, according to JPMorgan.

JPMorgan continues to place too much emphasis on the consumer goods, luxury goods, and healthcare sectors.

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