Investors showing more confidence in Thai economic recovery: Thai Capital Market Org

Source: Xinhua| 2020-06-02 19:37:01|Editor: huaxia

BANGKOK, June 2 (Xinhua) -- The Federation of Thai Capital Market Organizations (FETCO) on Tuesday said that the Investor Confidence Index (ICI) in the next three months have risen by 21 percent on perceptions that the Thai economy will recover after the government had eased most business restrictions.

"The index has risen for the month of June, July and August to 96.93 from the March-April-May index of 80.4," said FETCO chairman Paiboon Nalinthrangkurn.

Investors have based their confidence on the performances of listed Thai companies in the second quarter of this year, the recovery of local economy and the flattening of the COVID-19 curve, he said.

The latest FETCO survey found that food and beverage stocks were the most attractive while tourism and recreation stocks were stagnant.

Paiboon said the Stock Exchange of Thailand had in March bottomed out and is now taking steam.

He said he expects the Stock Exchange of Thailand to reach 1,400 points after the government eases more business lockdowns.

Ariya Tiranaprakij, senior executive vice-president of the Thai Bond Market Association however, said the Monetary Policy Committee was likely to maintain the policy rate at 0.5 percent this month on the possibility of economic decline, lower global interest rates and capital outflows. Enditem