BANGKOK, Sept 14 (TNA) — Investors’ confidence for the next three months is bearish due to concerns on political situations and economic recession, according to the Federation of Thai Capital Market Organizations (FETCO).
FETCO chairman Paiboon Nalinthrangkurn said that a survey last month showed that the FETCO Investor Confidence Index for the next three months ending November dropped by 21% to 67.52 in the bearish zone. Confidence among most groups of investors was in the neutral zone but that among foreign investors was very bearish.
The biggest negative factor was the local political situation, followed by local economic recession and situations in America and Europe. Most investors pinned their hope on local economic recovery, followed by the monetary policies of the United States, capital movements and a COVID-19 vaccine.
The most interesting business sector was food and the least interesting one was the banking sector.
“Surveys on individual groups of investors in August 2020 showed that confidence among foreign investors plunged to the very bearish level at 25.00… Confidence among individual investors rose slightly to 90.63. That among securities firms rose to 100.00 and institutional investors’ confidence fell to 87.50,” Mr Paiboon said.
Factors to be monitored included the second spread of COVID-19 which delayed economic recovery in many countries, the election of the United States president, uncertainty about local assistance measures, unemployment, business closure and political unrest, he said. (TNA)
