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The Thai bourse is poised for another rally, with leading strategists expecting the Stock Exchange of Thailand (SET) index to surpass 1,700 points this year as improving corporate earnings, stronger economic momentum and renewed foreign capital inflows reinforce confidence in the equity market.Speaking at the "SET Zoom in Live" investment seminar at the weekend, Thailand's top market strategists expressed a notably more optimistic outlook for the benchmark index, with the highest projections reaching 1,730 points.
Therdsak Thaveeteeratham, executive vice-president of Asia Plus Securities, said the brokerage has upgraded its year-end SET index target to 1,720-1,730 points, with market earnings per share (EPS) projected to reach 95 baht.
A narrowing equity risk premium should support a higher forward price-to-earnings (P/E) multiple of around 18 times, he said.
Nattawat Onrat, senior executive vice-president and investment advisor at CGS International Securities (Thailand), shared a similar view, saying the Thai index reaching 1,700 points this year is "certain".
