US$45bil manager says Thai stocks face hurdles over worst outbreak

New wave: A file picture showing people waiting to receive Covid-19 vaccines in Bangkok. Investor optimism over prospects for a return of foreign tourists has been eroding. — Reuters

BANGKOK: Thai equities face new hurdles as the country’s worst Covid-19 outbreak will further squeeze corporate earnings and delay an economic recovery, according to Thailand’s second-biggest private money manager.

Investor optimism over prospects for a return of foreign tourists has been eroding amid a new wave of the virus that took hold this month, said Vasin Vanichvoranun, executive chairman at Kasikorn Asset Management Co, which manages about US$45bil (RM184bil).