K-Asset flags stretched Thai valuations

Mr Wajana, left, says with Thailand's economy projected to grow by less than 2% annually for 1-2 years, SET market valuations look less appealing.

Kasikorn Asset Management (K-Asset) is advising investors to adopt a more selective approach to Thai equities after the benchmark index recently topped 1,600 points, saying the Thai bourse has already priced in many of the positive factors.

Managing director Wajana Wongsupasawat said the Stock Exchange of Thailand (SET) is now trading at around 16 times earnings despite limited growth prospects for both corporate profits and the domestic economy.