1Q21 market EPS rose 169% yoy and 47% qoq. We see a challenging 2Q21F given the rampant third wave of Covid-19 in Thailand. Our top picks are HANA, KCE, KBANK, SCB, SPALI, PTTGC, PTT, TVO, ADVANC and CHG. We revise our end-2021F SET index target down slightly to 1,690 (19.8x 2022F P/E) from 1,740 (20x 2022F P/E), still 0.25 s.d. below its 5-year mean.
- 1 Weekend Reading/Global Surf the money tsunami or drown? New index shows countries most ready for MMT
- 2 Macro Analysis/Global East African budgets: Policy shift brightens outlook in Kenya, Tanzania & Uganda
- 3 Strategy Note/India India sues Twitter
- 4 Sovereign Analysis/Laos Laos: Moment of reckoning for its eurobond
- 5 Sovereign Analysis/Suriname Suriname: Bondholders trigger termination clause – implications
This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not con...