However, some analysts see hurdles facing Thai banks, an important consideration because financial services is THD’s largest sector weight at 28.7% of the ETF’s weight.

“We believe these data points do not change the fundamental view that the loan growth outlook for 2016 is still quite muted and unless we see a sharp turnaround in export and consumption, the sector could continue to lack positive catalysts,” according to Credit Suisse.

iShares MSCI Thailand Capped ETF