SET index and select stocks likely bottomed out now, in my view.
SET likely near a major bottom just now below 1080. But as always selectivity is key.
As you all know, over the past 3 1/2 years just post the end of the Covit re-boom that time where I called the SET bottom in April of 2021, I've ever since turned Thai SET mostly bearish -and state so frequently in all writings at my web site and here. Since, I've consistently had a bearish view and only saw investor-merit in select very high 5-8% dividend stocks, while riding out this bear market. Today, I am changing my mind. The US mkt. has peaked in my view so stated since Jan. 2025, as well as the US$ currency, this vs. most others.
The SET benchmark index has dropped considerably from over 1600 to 1078 currently. Stock mkts. are different then most other things in life, where a long bearish-bad mkt. can bring out opportunities, like true "bargains which go begging". While holding my breath, I think we are getting there in the Thai stock mkt. This just at the time when the major global mkt. seems peaked can bring out veritable investor opportunities here. Its "a market of stocks far more than a stock market" and I know of companies still doing rather well, even while their stock prices collapsed.
With all that is going on at the present I think -for the first time in since 2021, its time to start nibbling very high quality Thai stocks again as I know them. Of course I could be early but the Thai mkt. seems to me oversold as we approach the end of June 2025.
To members I say start accumulating BCPG (5.60) as a new idea which is now well oversold as I sense. Trading at a p/e of just under 11 with a stated dividend yield of 5% and its CEO in the news stating second half will be strong, I dare to pick this one as my bottom fishing pick today! Its in the clean energy sector and well removed from all the Thai local troubles. BCPG used to trade as high 10-12 Baht just 2 years ago.
Paul A. Renaud. www.thaistocks.com
BCPG Public Company Limited, a renewable energy company, engages in the solar power, hydropower, wind power, and natural gas businesses in Thailand, Japan, Laos, Taiwan, Vietnam, the Philippines, and the United States. It operates through Production and Distribution of Electricity; and Oil Storage and Seaport Service segments. The company offers smart energy solutions, including blockchain-based peer-to-peer energy trading project; energy management system; district cooling system; battery; and decarbonization solutions. It also develops transmission line system and oil terminal. In addition, the company operates as an EPC contractor that provides operation and maintenance services. Further, it provides project development, construction, and operation management; investment management; and asset management services. The company was incorporated in 2015 and is headquartered in Bangkok, Thailand. BCPG Public Company Limited is a subsidiary of Bangchak Corporation Public Company.
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