Thailand's surprise upturn

Given the recent political violence in Thailand, no one had expected much from the SET index. But to everyone's suprise, it has gained more than 20% since May and is now at a 14-year high.

This spring's political violence brought the rally in Thai equities to an abrupt halt and ended in a tense stalemate. So few would have expected the SET index to shoot upwards. Yet it has gained more than 20% since May and has now reached a 14-year high.

This is largely because "the economy doesn't seem to have missed a beat" over the nine-week violent demonstrations this year, says Tim Johnston on FT.com. Exports, which account for 65% of GDP, expanded by 21% year-on-year in July. Consumption is strengthening too as employment rises. And consumer confidence is at a 28-month high.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.