Thailand: Returning tourists are key to growth

Article Excerpt

Thailand’s economy should keep recovering this year, as further easing of COVID-19 restrictions and the reopening of borders boost the country’s all-important tourism industry. That should offset the negative effects of high commodity prices and the effect of China’s continuing zero-COVID policies on regional growth. ISHARES MSCI THAILAND ETF, $70.59 (New York symbol THD; TSINetwork ETF Rating: Aggressive; Market cap: $323.3 million) tracks the performance of a broad basket of publicly listed Thai companies. The ETF holds a portfolio of 132 stocks of which the top 10 make up 42% of the total assets. Energy (16%), Industrials (15%), Consumer Staples (11%), Financials (9%), and Utilities (9%) are the main industry segments represented in the portfolio. The fund’s top holdings are PTT pcl (Energy, 6.3%), CP All pcl (Food Retail, 5.8%), Airports of Thailand (Airports Operator, 5.1%), Bangkok Dusit Medical Services (Healthcare, 4.9%), Siam Cement (Building materials, 4.8%), Advanced Information Technology (IT Services, 4.0%) and PTT Exploration and Production (Energy, 3%). Other top holdings include Delta Electronics…