BANGKOK– The Investor Confidence Index for the next three months rose by 21% on economic recovery expected after eased business restrictions, according to a survey by the Federation of Thai Capital Market Organizations (FETCO).
FETCO chairman Paiboon Nalinthrangkurn said the index for August rose to 96.93 from 80.4 in the previous survey.
Investors based their confidence on the performances of listed companies in the second quarter of this year, the recovery of local economy due to government policies and the improved situation of the coronavirus disease 2019 pandemic, he said.
The latest survey found that food and beverage stocks were the most attractive while tourism and recreation stocks were the least interesting.
MrPaiboon said the Stock Exchange of Thailand already bottomed out and was picking up. The index rose 3% in May but still showed a 15% decline compared with its level at the beginning of this year. He expected SET to reach 1,400 after the government eases its business lockdowns.
Ariya Tiranaprakij, senior executive vice-president of the Thai Bond Market Association, said the Monetary Policy Committee was likely to maintain the policy rate at 0.5% this month on the economic decline possibility, lower global interest rates and capital outflows. (TNA)
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