BANGKOK – Thai stocks will fluctuate in February as an impact of the novel coronavirus outbreak, says an analyst.
KTB Securities Thailand’s Executive Chairman Win Udomrachtavanich said he predicts continued downward trend this month.
But SET index, the Stock Exchange of Thailand’s key index, would not hit a slump given strong liquidity and low policy interest rate, he predicted.
Compared to the outbreaks of MERS and SARS in the past, the stock market was under pressures for about two to three months, he said.
Not only coronavirus outbreak, the Thai economy also faces many uncertainties such as those arising from drought problem, government budget delay.
The SET index fell almost 100 points in January after reaching its record high at 1,604.28.
Many expect the new coronavirus is expected to have a wide-reaching impact on the Thai economy; not just tourism but also manufacturing, exports, retail and agricultural sectors.
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