Connect with us

Phuket

Phuket may gain from bullish view on Thai markets

Legacy Phuket Gazette

Published

 on 

Phuket may gain from bullish view on Thai markets | Thaiger

PHUKET: Renowned investment guru Mark Mobius remains upbeat about the Thai stock market, due to its “undervalued prices and high dividend yields”.

Speaking on Friday at a seminar in Bangkok entitled “The Thai Economy: If It Can Recover”, Mobius said the dividend yield on Thai shares currently averages about 5.5%, well above that of other emerging markets, which are at about 4%.

As well, Mobius sees the Thai baht as a whopping 14% undervalued against the US dollar.

Mobius is president of the Templeton Emerging Markets Fund, an impressive 10% of which is currently invested in Thai equities. The fund, managed by Mobius, had $391.1 billion under management as of March 31, up from $371.6 billion in February.

PTT and Siam Commercial Bank are among Thai shares accumulated by the fund, he said.

The fund has snapped up Thai bank and energy stocks while avoiding the tourism sector, due to the latter’s current low trading liquidity. But if markets are generally heraldic and do ‘price in’ the condition of a nation’s medium term economic outlook, then perhaps the outlook for Thai tourism, and that of Phuket in particular, is better than currently perceived locally.   

Mobius said the recent political chaos in Thailand could happen anywhere in the world and was not an issue for him.

“Thailand’s overall politics remain peaceful,” he said.

Regarding Thailand’s gross domestic product, he said it would rebound from a contraction of 3-4% this year to growth of 2-3% next year.

“And the US economy will recover faster than many expect. Recessions don’t last long,” he said.

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Follow Thaiger by email:

World5 mins ago

Insect snacks hit Japanese vending machines

Thailand27 mins ago

The Return of ‘THE TIM’ | Thaiger Bites | September 20

Coronavirus (Covid-19)52 mins ago

Monday Covid Update: 12,709 new cases; provincial totals

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Thailand60 mins ago

Pattaya laundry shop reports ladies’ underwear thief is on the loose

World2 hours ago

Hanoi to ease Covid restrictions this week

Thailand3 hours ago

Morning Top Stories | No approved October re-opening, Phuket easing restrictions | September 20

image
Join the conversation on the Thaiger Talk forums today!
Thailand3 hours ago

Government believes more suspects involved in theft from budget meant for the disabled

Thailand4 hours ago

Dual Pricing and Reduced tax on Alcohol | Good Morning Thailand | Episode 92

Thailand4 hours ago

Around 20 people arrested at Koh Samui restaurant for drinking alcohol, gambling, playing pool

Bangkok5 hours ago

Bangkok residents warned of flooding risk as torrential rain forecast this week

Thailand5 hours ago

Government seeks to regulate infectious waste disposal charges

World5 hours ago

Manny Pacquiao to run for president of the Philippines

Economy6 hours ago

Cuts to import duty on alcohol, cigars, part of plan to entice wealthy foreigners

Coronavirus (Covid-19)6 hours ago

Phuket officials launch mass testing campaign in high-risk communities

Thailand7 hours ago

DDC plans to vaccinate 1 million people a day starting Friday

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14 | Thaiger
Thailand6 days ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand7 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism7 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket7 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism7 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand7 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism7 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand8 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand8 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand8 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand8 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand8 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand8 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand8 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand8 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending