The Stock Exchange of Bangkok has fallen 9.5 per cent since Nov. 24, the day of the first major anti-government rally in Bangkok. The baht ended the Thai trading day at 33.13 to the U.S. dollar, after a prolonged sell-off that has seen it give up nearly three years of gains.
On Monday, the Stock Exchange of Thailand gained six points to close at 1,230 points amid late-day buying into cheaper shares, although market participants offered a decidedly grim outlook.
The SET is at risk of falling below 1,100 points, and the baht may reach 34 to the dollar, warned Voravan Tarapoom, the chief executive officer of BBL Asset Management Co. Ltd., which has nearly $12-billion in assets under management.Political turmoil “will be a big cloud in the investment market for a while,” she said in an interview. “The longer we live with uncertainty, the worse it will be for the country.”
Local reports suggest foreign investors have withdrawn billions of dollars from the country – with nearly $100-million in bond sales Monday alone – after years of multi-billion-dollar capital inflows. With no clear path to resolution of a political dispute whose roots date back some 12 years, observers worry that the country could go without an effective government for some time, triggering broader pain in the real economy
Thailand aims to push its games and content industry
After almost a year under the pandemic, the number of game players in Thailand rose to 32 million and helped the market generate over a billion dollars in 2020, according to NewZoo, an international analytics and market research group.
Thailand’s H1 Investment Applications rise 158% in combined value, BOI says
Japanese firms ranked first with 87 projects worth 42.8 billion baht, followed by investments from the U.S. with 18 projects worth 24.1 billion baht, and China with 63 projects worth 18.6 billion baht.
In the first six months of 2021, Thailand’s investment applications increased 14% from the year earlier period in terms of the number of projects, and 158% in combined value, led by increasing foreign direct investment (FDI) applications, sustained growth in target industries including the electronics and medical sectors, as well as in power generation, the Thailand Board of Investment (BOI) said.(more…)
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