Thai Investor Mood Improves, Mass Vaccination Begins

#Thailand #investors #vaccination #FETCO

Investor confidence in Thai financial markets for the 3 months ahead has risen slightly on optimism over the country’s COVID-19 vaccination program, a capital market association said Monday.

The tourism-reliant country started its long-awaited mass vaccination drive and is preparing a phased reopening to vaccinated foreign visitors later this year, dependent on its progress with inoculations.

A May survey by the Thai Capital Market Organizations (FETCO) showed its investor confidence index rose to 126.4 following a drop to 124.37 in April, when the latest, more severe outbreak emerged.

The vaccination programme to help ease the COVID-19 situation is the most supportive factor, followed by an expected economic recovery and fund inflows,” federation chairman Paiboon Nalinthrangkurn said.

Thailand’s stock market has risen 12% so far this year to 1,621. Mr. Paiboon said it could reach 1,650 by the end of the year.

Foreign investors have sold 62-B baht (US$2-B) of Thai shares so far this year after dumping about 264-B baht in Y 2020.

A separate survey by the Thai Bond Market Association showed the central bank at its next meeting on 23 June will likely keep its Key interest rate at a record low of 0.50% again to support the economy, senior vice president Ariya Tiranaprakijor told the briefing.

Have a healthy day, Keep the Faith!