Thailand’s Post-Coup Rally Is Over to Some Who Called It
So Bloomberg has come out with a story saying the post-coup rally is over. Here are some quotes from a few strategists in Thailand.
“We advised clients to begin reducing their holdings to lock in profit,” said Chaiyaporn Nompitakcharoen, a strategist at Bualuang who correctly predicted the market would rally in a May 26 report. “Share prices have gotten too far ahead of earnings and entered overbought territory.”
“The upside gains for Thai stocks will be very limited,”Sukit said by phone on July 15. “The economy won’t show a high growth rate until next year.”
“Valuations are quite stretched,” Thanomsak, who was ranked in June as one of the two best investment strategists by Thailand’s Securities Analysts Association, said by phone on July 15. “Major inflows of foreign funds will be unlikely.”
Source: Bloomberg
blackjack
I find these statements to be hard to believe given that under this Junta things are stable, corruption is being weeded out, cronies are being retired, restructuring of boards are taking place, the BOI is approving new investments, etc
So how could this not have a knock on effect?