Investor confidence in Thailand’s stock market has reached a five-month low, pressured by the conflict in the Middle East between Israel and Hamas as well as capital outflows, coupled with the earnings season.
Federation of Thai Capital Market Organizations (FETCO) stated that according to the survey during 20-31 October, 3-month forward FETCO Investor Confidence Index is expected to be at 76.87, a 31.5% drop from the survey in the previous month, which would be at a “bearish” zone (40-79 of FETCO ICI Criterion).
On the opposite side of pressure in the market, the survey showed that the economic stimulus plan by the government was the most bullish factor to support investors’ confidence.
