Bualuang Securities (BLS) said while most downside risks have already been priced into the market, uncertainty remains high, particularly with the delayed impact of US reciprocal tariffs, which is expected to materialise in the second and third quarters. These trade headwinds could delay Thailand's economic recovery and earnings rebound, now projected to take hold in the final quarter of the year, BLS said in a research note. In the near term, BLS highlights strong earnings momentum in selected sectors, particularly food (supported by rising pork prices and declining animal feed costs), beverages (benefiting from falling prices of key inputs such as sugar and aluminium), and technology infrastructure, especially telecoms and power generation.
Author: Nuntawun Polkuamdee
Published at: 2025-05-21 21:51:00
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