SCB Securities has said that growth in listed companies and foreign investment could drive the SET Index to 1,900 this year, while the election next year could send the index to a new high of 2,000.
Pornthep Jubandhu, President of the Investment Strategy Department at SCB Securities Research Group, said that despite volatility in capital markets abroad, the SET Index could exceed 1,800 and potentially reach 1,900.
He cited a four-year high in foreign investment that reached 11.4 billion US dollars over the past 12 months.
The International Monetary Fund also upgraded its economic forecast for Thailand this year and next year, in contrast with its downgrade of global performance.
The country’s outlook is further brightened by the current slowdown in capital outflows, along with 20% growth in listed companies.
Rising benchmark interest rates are also expected to benefit industrial zones and banks.
Furthermore, the election next year could provide the market with the opportunity of reaching an all-time high of 2,000 points.
However, macroeconomic risk factors include Britain’s scheduled exit from the European Union, Italy’s budget crisis and the US-China trade war. National News Bureau Of Thailand | SCB Securities: Election next year could send SET to 2,000
