Thailand Is Second Most Attractive in Asia

atch the video with Andrew Stotz or read a summary of the country profile on Thailand.

Four Pillars of GDP: Driven by private consumption

Overall, Thailand is the second most attractive market in Asia and is mainly driven by exports. Investment is, however, a drag on GDP growth.

Export-driven growth

Thai companies’ earnings growth was low in 2016 but is expected to grow in 2017. Net exports are credited with the lion’s share of GDP growth, and ROE is above the Asia ex-Japan average.

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#Thailand Is Second Most Attractive in Asia

A. Stotz Four Elements: Thailand’s rank relative to Asia

Overall, Thailand is second most attractive in Asia considering all our four elements: Fundamentals, Valuation, Momentum, and Risk.

Fundamentals: Thailand’s market is moderately attractive, supported by good ROE and earnings.

Valuation: Its valuation is moderate with multiples close to the Asian average.

Momentum: Earnings are expected to rise alongside some price momentum.

Risk: Thailand has moderate volatility and a relatively low beta.

Strong performance in Information Technology and Energy

Top 3 largest sectors: Financials: 17% of the market. Energy: 14%. Consumer Staples: 12%.

Best sector & stock: Technology: +12.8% & KCE Electronics PCL: +33.3%

Worst sector & stock: Telecom: -3.0% & Advanced Info Service PCL: -9.1%


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DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article.

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Dr. Andrew Stotz, CFA is the CEO of A. Stotz Investment Research, a company providing institutional investors with ready-to- invest portfolios in Asia that aim to beat the benchmark through superior stock selection. The company also provides buy- and sell-side clients with financial models to value any company in the world and World Class Benchmarking to determine what companies are financially world class. Previously, as Head of Research at CLSA, Andrew was voted No. 1 Analyst in Thailand in the Asiamoney Brokers Polls for 2008 and 2009. He was also voted No. 1 Analyst in Thailand in the 2009 Institutional Investor magazine All-Asia Research Team Report. Andrew earned his PhD in finance at the University of Science and Technology of China in Anhui province, with a focus on answering questions raised by fund managers and analysts during his career about picking stocks and managing portfolios. In addition, Andrew has been a lecturer in finance for 22 years at various universities in Thailand. Since 2013, he has been the president of the CFA Society of Thailand. He is also the author of How to Start Building Your Wealth Investing in the Stock Market.