Sector Update – 16.07 to 20.07

Market begun to show some take profit signs last week with foreign investors slowing down their buying in the Thai Equity market and with banks posting +20% YoY earnings across the board, some profit taking happened in the sector as well. Going forward we are looking at what will happen with the commerce sector, its been a major reason for Thai stocks to go up this year but with BIGC off 6% today, as of writing, and just a reminder, BIGC is 30x PE and 2Q12 earnings grew 27% YoY, and the stock still dropped off 6%, I’m expecting to see similar events happening to ROBINS (47x PE) and CPN ( 42x PE).

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