BANGKOK, 11 August 2015, The Federation of Thai Capital Market Organization (FETCO) has reported Investor Confidence Index over the next three months has hit a 14-month low, due to the global economic slowdown and diminishing exports.
FETCO President Worawan Tharapoom said the index for the next three months has decreased from 98.28 the previous month to 57.27, the lowest in 14 months. Investors suspect that the drop was caused by stagnant stock market performance, due to the economic slowdown, declining exports, the drought crisis and delays in government disbursement for public utility projects.
President Worawan believed that currently, profitable stock includes those in the construction sector, but cautioned investors to avoid steel-related stock.
Meanwhile, CIMB indicated the bank is revising down its GDP projection this year from 3.3 percent to about 2-3 percent. It blamed a slowdown in private and government investments, domestic spending, the ailing Chinese economy and uncertainty in the U.S. economy.
