Thailand’s fragile boom

Thailand has been Asia's second best-performing major stockmarket this year, with the benchmark SET index up 30% in dollar terms. But the bull run looks vulnerable.

With investors focusing on Asia's new star, the Philippines, few have noticed that Thailand is the region's second best-performing major stockmarket this year. The benchmark SET index has gained 30% in dollar terms.

Emerging Asia as a whole, tracked by the MSCI Asia ex-Japan index, has barely risen in 2012. Given Thailand's recent performance and outlook, however, the SET's run looks vulnerable to a setback.

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.