Bet On Buddha: Thai Stocks Set To Rally Even More
Sure, it's fair to say the ETF Professor's love affair with the iShares MSCI Thailand Investable Market Index Fund (NYSE: THD) has reached epic proportions, but there is good reason for that. After all, there are only two stock markets in Asia that are bull markets and Thailand is one of them (Indonesia is the other.)
Well, the hits just keep on coming for THD and Thai stocks. Not only did the ETF hit another 52-week high yesterday, but Kasikorn Securites is out with a report today that says the Thai bull market is set to double.
Since it takes a 20% rally to officially enter bull market territory, Kasikorn is saying Thailand's benchmark SET Index is poised to surge to 1,040 next year, a 44 percent rebound from the low in May, according to Bloomberg News.
On a percentage basis, Thailand's GDP growth doesn't sport double-digit gains like Malaysia and Singapore do, but the world is waking up to the Thailand growth story and you should wake up to THD ASAP. Year-end price target: $62.
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