Thailand's stock investor confidence turns bearish in June
The investor confidence index, which predicts market conditions over the next three months, stood at 58.45 last month, plunging from 110.36 in May to the "bearish" zone, according to the Federation of Thai Capital Market Organisations (Fetco).
Investor morale declined among all categories, with proprietary investors down 61.9 per cent, foreign investors down 55.6 per cent, institutional investors down 42.1 per cent, and retail investors down 14.2 per cent, the Fetco said in a statement.
The Thai capital market experienced high volatility in June as the local political situation fuelled investor anxiety over the government's stability, along with border tensions with neighbouring Cambodia and the Iran-Israel conflict, said Fetco Chairman Kobsak Pootrakool.
Kobsak told a news conference that the outcome of trade negotiations between the United States and its trading partners, coupled with geopolitical issues in the Middle East affecting oil prices and potentially impacting the global economy, are external factors to monitor.
Locally, a constitutional court order suspending Prime Minister Paetongtarn Shinawatra pending an ethics investigation could adversely affect the implementation of key economic policies and harm the private sector's long-term investment strategies, he said.
He noted that the Thai economic slowdown expected in the latter half of the year, driven by weakened exports and a decline in inbound tourists, was also a concern. — Bernama/Xinhua
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