Connect with us
CGIF-10th-Year-Anniversary

Markets

Foreign Outflows drive down Thai SET

Stocks were heading down in most Asian countries, following a selling trend of foreign investors. Thailand, Indonesia and the Philippines bourses nosedived amid worries about the prospect of fund outflows, with the Thai main index seeing its sharpest one-day loss since October 2011.

Daniel Lorenzzo

Published

on

Stocks were heading down in most Asian countries, following a selling trend of foreign investors. Thailand, Indonesia and the Philippines bourses nosedived amid worries about the prospect of fund outflows, with the Thai main index seeing its sharpest one-day loss since October 2011.

Thailand and the rest of Asia are bracing for more volatility, as foreign capital started to flow back to the United States on the back of improvements in some economic indicators. This comes at a time when Thailand is facing internal risks, from the rice-pledging scheme to intensifying anti-government sentiment.

setdown

The plunge in the index prompted SET president Charamporn Jotikasthira to urge investors to stay calm.

Asian stock exchanges ended lower yesterday because of foreign sell-offs. On average, Asia-Pacific bourses showed a 0.7-per-cent slide. Leading the pack was the SET Index, which dropped 4.9 per cent (75.92 points), the most since October 2011, to 1,452.63. Trailing the Thai bourse were the Philippines, which plunged 4.6 per cent, and Jakarta, down 4.2 per cent.

Yesterday, foreign investors were net sellers on the Stock Exchange of Thailand, with their sells reaching Bt5.48 billion. Since June 1, net sells have been Bt28.19 billion, and the year-to-date figure is Bt49.28 billion.

 

via SET faces further volatility – The Nation.

The current outflows of foreign capital will be a boon to Thailand’s fiscal policy, especially the policy interest rate, Deputy Prime Minister/Finance Minister Kittiratt Na-Ranong said today.

He said foreign investors moved their capital out of the country after profiting in the Thai stock and bond markets in the last few years.

At least US$12 billion in foreign capital was transferred into Thailand since late last year for short-term investment, consequently putting pressure on the baht which successively surged to Bt28-30 against the dollar, he said.

Mr Kittiratt said it would be unnecessary for the government to implement some of its fiscal measures but all parties concerned have yet to closely monitor the economic situation.

A Krungsri Bank foreign exchange trader this morning said the baht was at Bt30.93/95 against the dollar, adding that it was the weakest in eight months when it recently slipped to Bt31.03/05 against the greenback.

Comments

Forex

How to Trade the EUR/USD Currency Pair: Professional Tips

The behaviour of the EUR/USD pair is a kind of indicator showing the comparative condition of the US and EU economies. If the US economy steadily grows, and problems arise in the EU, the EUR/USD decreases.

Pr News

Published

on

By

EUR/USD is one of the most popular currency pairs for Forex trading. Since the beginning of trading in 1999, the currency pair has undergone significant changes. For the first two years, the future for the euro was uncertain and the quotation was declining, reaching a minimum of 0.8200.

(more…)
Continue Reading

Markets

Thailand remains ASEAN’s largest Exporter of Vegetables

Currently, the kingdom has FTA agreements with 17 countries, 13 of which no longer levy import duties on Thai vegetables, including China, Hong Kong, Australia, New Zealand, Japan, Chile, Peru and 6 countries in ASEAN.

National News Bureau of Thailand

Published

on

Thailand has FTA agreements with 17 countries, 13 of which no longer levy import duties on Thai vegetables.

LAMPANG (NNT) – Despite economic stagnation and border closures, due to COVID-19, Thailand remains ASEAN’s largest exporter of fresh refrigerated vegetables, while being 14th in the world.

(more…)
Continue Reading

commodities

Gold rush hits Thailand as prices surge

The value of gold has rocketed by Bt7,000 per baht weight since the beginning of this year, generating returns of over 20 per cent.

Avatar

Published

on

Photo : Adam Jones

People flocked to sell their gold at China town. The Gold Traders Association announced the buying and selling prices of gold has increased by 50 baht to a historic high.

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,413 other subscribers

Trending