BANGKOK (XINHUA) – Thailand’s stock investor confidence significantly improved in August thanks to the government’s stimulus measures, local economic recovery and positive political developments, a survey showed on Monday.
The investor confidence index, which predicts market conditions over the next three months, stood at 132.51 last month, surging from 60.40 in July and rebounding to the “bullish” zone for the first time in eight months, according to the Federation of Thai Capital Market Organizations (FETCO). Investor confidence across all categories jumped, with retail investors up 73.6 per cent, proprietary investors up 28.4 per cent, institutional investors up 32 per cent and foreign investors up 275 per cent, the FETCO said in a statement.
Despite improved sentiment, lingering political uncertainty continued to undermine confidence, followed by concerns over the local economic slowdown and inflation, said FETCO Chairman Kobsak Pootrakool. After fluctuations in the first half of August, the Stock Exchange of Thailand rebounded due to the appointment of the Southeast Asian country’s new prime minister and progress in the government’s flagship stimulus policy, the digital wallet handout scheme, Kobsak told a news conference.
The FETCO noted that the establishment of the new Cabinet and the government’s economic policies, along with flooding situations that may impact the economy, are factors to be monitored.
