Credit Suisse has revised upwards its forecast for global economic growth this year to 3.8 per cent, said Woods, adding that the US economy would continue to expand. He conceded that his perspective differs from the base case scenario predicted by Credit Suisse. “Baht appreciation pace is limited in the near term and Credit Suisse is neutral on the baht,” he said. Aside from issues over the stronger baht, Woods said Thai equities are expensive, with a 12-month forward price to earning ratio (P/E) of 16.1 times. The businesses that will benefit from what Credit Suisse calls a super trend are healthcare, life insurance, private pension funds and asset management.

Source: The Nation Bangkok February 05, 2018 14:03 UTC