Confidence of the investor in Thailand’s equity market over upcoming three months dropped to a six-month low on concerns about the Federal Reserve’s monetary tightening plan and sluggish economic rebound, a survey by the Federation of Thai Capital Market Organizations (FETCO) showed.
Investor’s confidence index tumbled to 93.91 from 129.53 the previous month.
Foreign investors’ confidence plunged to the “bearish zone” from the “bullish zone”, hurt also by international conflicts, the federation said.
However, foreign fund inflows are expected to continue on optimism over a tourism recovery, said federation chairman Paiboon Nalinthrangkurn.
“With global market volatility, the Thai market is seen as a ‘safe haven’,” he told a news conference.
The main index could reach 1,800 points in the second half, Paiboon said, from 1,675 points on Monday.
