THD: Don't Chase The Thailand Dip

2025-03-03 09:24:24 ET

Summary

• Thailand has been one of Southeast Asia’s worst performers.
• Recent domestic policy tailwinds offer hope.
• But not enough to clear the many hurdles ahead.

Along with Indonesia, Thai equities, proxied by iShares MSCI Thailand ETF (THD), have been the worst-performing in Southeast Asia year-to-date. This comes despite a rare domestic positive in the form of political stability. You also have growing policy support on the monetary side via a more dovish Bank of Thailand ( last week’s rate cut is a case in point), which complements fiscal measures from the Thai government in recent months, from deploying funds into local stocks (see THD: Dissecting The Big Thailand Rally ) to rolling out “digital wallet” stimulus (see THD: Beware Of Thailand's 'Helicopter Money' Plans )....

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