Thailand’s Stock Exchange of Thailand (SET) reported a 0.8% decline in the SET Index in March, indicating a decline in foreign investments for the second consecutive month.
The SET Index for March 2023 was 1,609.17 points, the decline suggesting an outward transfer of foreign investments. Soraphol Tulayasathien, SET’s Senior Executive Vice President and Head of the Corporate Strategy Division said this trend was seen in other Southeast Asian markets as well. The daily average trading value at SET and its Market for Alternative Investment (MAI) was 61.25 billion baht, or 35.9% lower than in the same period last year.
Foreign investors made net sales of 31.49 billion baht in Thailand in March after four consecutive months of net purchases, which shows an outward transfer of investment capital from many regional stock exchanges.
SET also observed a decline in the value of the Thai baht, reflecting the nation’s weakening export industry. Despite this, SET expects the Thai economy to sustain growth, especially with the tourism sector and private consumption.
The vice president said Thailand’s financial system is not affected by the potential banking crises in other countries as central banks have provided swift responses to limit the damage. He also said Thailand’s stock market remains robust, as seen from the influx of foreign capital.
Soraphol added that investments and the national economy should also remain affected. However, the policies proposed by political parties will play an important role in attracting investments from international investors. (NNT)
