10 things we expect to see next yearWith 2024 just around the corner, we are taking the opportunity today to list 10 things that could impact the Stock Exchange of Thailand next year. The delay in the Thai government budget for fiscal 2024 will hurt domestic growth, especially in the first half of the year. After a severe economic deceleration (or recession) is seen in global growth, central banks (likely led by the Fed) should start to ease, cushioning overall economic activity. Following a stabilisation in growth, which we expect to happen around year-end 2024, the door should open for market recovery. Hence, we have set a year-end 2024 SET target of 1,550 points, which represents a forward price/earnings ratio of 17.9 times the forecast earnings per share (EPS) of 95.80 baht.
