Bangkok, Wan Asset Management believes that if the Chinese economy recovers It has a positive impact on the Thai economy. ‘Tourism-Investment-Industrial Sector’ is expected to disburse the 2024 budget around the second quarter, helping to stimulate the Thai economy in the second half of the year. Point out the Fed’s stance on lowering interest rates and slowing inflation. It is a positive factor for the stock market.
Mr. Poj Harinsut, Chief Executive Officer Wan Asset Management Company Limited revealed the investment overview that in 2024, the world economy is likely to slow down. The growth rate is expected to be around 3%, similar to last year’s 3.1%, with important variables depending on the recovery of the global manufacturing sector. which began to see signs of improvement through the global manufacturing PMI index in the first 2 months of this year which has returned to the expansion level for the first time in 16 months and has positive expectations for the expansion of businesses related to artific
ial intelligence technology (AI Boom), while foreign factors Still giving weight to the monetary policy direction of the Federal Reserve (Fed), which is an important variable that will determine investment direction. By evaluating that The U.S. interest rate down cycle will occur gradually at first. It is believed that the Fed will likely start cutting interest rates for the first time at the end of the second quarter and may cut at least two more times in the third and fourth quarters, respectively. This will have little impact on the weakening of the US dollar. Compared to major currencies and emerging markets While the climate problem battle war and other geopolitical conflicts This may be a risk factor for inflation from the supply side that remains to be monitored throughout this year as well.
For the Thai stock market Still have a positive view of the Thai stock market’s rise. But it may not be as outstanding as it was more than 10 years ago. In the short term, the Thai stock market still lacks concret
e supporting factors. In addition to the hope that the foreign economic sector will continue to support the growth of the Thai economy. Especially the Chinese economy If it can recover, it will have a broad positive impact on Thailand’s tourism, investment, and industrial production sectors. Another factor that had a negative effect early on. But what will be good in the second half of the year is the government’s delay in drafting the Budget Act for fiscal year 2024, causing the government sector’s driving force of the Thai economy to remain slow for more than 5 months.
It is considered that in the end The government sector will resume disbursements as usual around the second quarter, including solving household debt problems and structural problems in Thai industrial production. This will have an effect on the Thai stock market in the long run. Especially the export sector is losing its competitiveness. and unable to adapt to changing product demand patterns in the global trade market and changing global s
upply chains Therefore, it is not surprising to see foreign investors continually selling off the Thai stock market. However, investing in the Thai stock market must focus on selecting each business group/industry. to suit the economic cycle in each period rather than investing in the market index. This year’s target index is estimated at 1,525 points, based on a Fwd PER of 16.24 times, based on the EPS assumption of 93.87 baht per share, while foreign stock markets Advice on choosing an investment group Focusing on developed countries such as the United States and Europe, etc.
While the operating results of Wan Asset Management Company Limited in 2023 had assets under management (AUM) as of December 2023 growing to 162 billion baht, with the proportion of assets under management from the mutual fund business. approximately 40%, provident funds approximately 20% and personal funds approximately 40%. The company still recommends arranging investment portfolios by diversifying assets in all types of investment
s (Asset Allocation), emphasizing strategic planning with alternative assets. (Alternative Asset) creates balance in the portfolio. amidst the uncertainty of the economic situation including geopolitical conflicts which occurs periodically Throughout the past year, Wan Asset Management has been the IPO champion, the largest alternative asset fund in the industry. Preparing to penetrate the private market Expand provident fund business Aiming to launch several more alternative asset funds this year. Focus on investment products with low correlation to financial assets. There is an opportunity to generate attractive returns compared to general assets. For offering funds in main assets such as equity instruments, debt instruments.
Source: Thai News Agency