BBL Asset Recommends Shares of Thai Retailers on Local Demand

Investors should buy shares of Thai retailers because an increase in consumer spending will boost their earnings, according to BBL Asset Management Co.

The Thai government’s plan to raise wages and spending will stimulate domestic consumption, said Peerapong Jirasevijinda, BBL Asset’s deputy managing director.

“The global economic slowdown has little impact on domestic retailers,” Peerapong said at an investment conference today in Bangkok.

BBL Asset, which oversees about $4.9 billion of investments, is a unit of Bangkok Bank Pcl, the nation’s largest lender.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Tony Jordan at tjordan3@bloomberg.net

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