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JP Morgan Upgrades Rating for Thailand's Stock Markets?
Transcript of the above video:
There appears to be some silver linings of good news within the clouds that are the current situation in both the world as well as the Tourism Sector and the overall economic sector here in Southeast Asia and Thailand specifically. I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: J.P. Morgan bullish on Thai bourses. Quoting directly: "Global financial Services firm J.P. Morgan has upgraded its rating for Thailand's stock markets to overweight from neutral because of returning Chinese tourists, with the SET Index forecast to hit 1,800 points this year. The recovery of Chinese tourism will boost business sentiment and consumer confidence in Thailand, while offsetting the impact of a global economic slowdown, said Marco Sucharitkul, senior country officer at J.P. Morgan Thailand."
I thought the point of this article and kind of the point of my video on this, is look Thailand is doing economically better relative to other places. I am not saying we are by any stretch of the imagination up in high cotton and we can all just stop working and stop worrying because we can't. We shut down for 3 years; it had tremendous negative economic ramifications; we have got to just do whatever we can do to move on down the road and keep making money and get the economy back to where it needs to be. But look, little things like this I think should be pointed out. This is a good thing. J.P. Morgan, a major Bank, a banking powerhouse quite honestly in a financial sector in the West, not only the United States but also Europe and the UK and the greater commonwealth for that matter. I mean J.P. Morgan is looking at Thailand, they are saying "hey, good things are happening there. We are kind of upgrading our outlook on their stock market.” I think overall that only bodes well moving into the future. Hopefully we will see further developments like this as 2023 rolls on.