Move Forward Party policies to boost retail, banking, and tourism stocks

Image courtesy of Bangkok Post

The new coalition government led by the Move Forward Party is expected to have a positive impact on retail, banking, and tourism stocks, as per analysts. The party’s policies aim to enhance the economy’s efficiency by reducing monopolies and increasing welfare for all, says Asia Plus Securities (ASPS). The sectors likely to benefit from these policies include retail, tourism, transport, electronics, banking, and hospitals. However, hotel, restaurant, energy, leasing, and construction sectors may not fare as well under the party’s policy direction.

“Sectors that should benefit from the policies of the Move Forward Party are retail, tourism, transport, electronics, banking, and hospitals,” stated ASPS, with beneficiaries including Central Pattana (CPN), Home Product Center (HMPRO), COM 7, Srinanaporn Marketing (SNNP), KCE Electronics (KCE), Nex Point (NEX), Krungthai Bank (KTB), and Kasikornbank (KBANK).

On the other hand, power conglomerates such as Gunkul Engineering (GUNKUL), Gulf Energy Development (GULF), B.Grimm Power (BGRIM), and Global Power Synergy (GPSC) are likely to be negatively affected, according to ASPS.

The Move Forward Party’s policies focusing on welfare, increasing the minimum wage, and supporting small and medium-sized enterprises (SMEs) should boost people’s purchasing power and improve the economy, according to Krungsri Capital Securities. Stocks poised to gain from this policy include Bangkok Bank (BBL), ADVANC, Central Retail Corporation (CRC), Srisawad Corporation (SAWAD), Siam Global House (GLOBAL), Osotspa (OSP), MC Group (MC), TOA Paint (Thailand) (TOA), Ichiton Group (ICHI), Aeon Thana Sinsap (AEONTS), and KBANK, reports Bangkok Post.

Yuanta Securities recommends domestic plays in retail, finance, and food and beverage sectors for investors as the tourism sector experiences a strong recovery and the new government is set to announce stimulus policies. Top picks include KBANK, BBL, HMPRO, ICHI, Srisawad Capital (SCAP), and Haad Thip (HTC). “Stocks in these sectors are likely to face minimal risks from external economic uncertainties,” noted Yuanta.

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Alex Morgan

Alex is a 42-year-old former corporate executive and business consultant with a degree in business administration. Boasting over 15 years of experience working in various industries, including technology, finance, and marketing, Alex has acquired in-depth knowledge about business strategies, management principles, and market trends. In recent years, Alex has transitioned into writing business articles and providing expert commentary on business-related issues. Fluent in English and proficient in data analysis, Alex strives to deliver well-researched and insightful content to readers, combining practical experience with a keen analytical eye to offer valuable perspectives on the ever-evolving business landscape.

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