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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!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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