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SET chief sees foreign capital flow into Thailand at normal level

BANGKOK, Oct 5 – Foreign capital continues flowing into Thailand in normal levels given the country’s sound economic fundamentals, according to Stock Exchange of Thailand (SET) president Jarumporn Chotikasathien.

He said that increased exports, the stronger baht, and higher interest rates had encouraged foreign capital to flow into the bond market in a large amount.

The capital had not overwhelmed the Thai bourse since foreign net buys totaled around Bt60 billion in the past few months compared with foreign net selling of Bt58 billion in May.

Consequently, he said, it is likely that foreign capital would continue flowing into Asian regional and Thai bourses.

He added that the possible imposition of more measures to curb the capital inflow following the official assumption of the new governor had not dampened investment sentiment in SET because he saw no sign of such a Bank of Thailand (BoT) move.

Nattarin Talthong, executive chairman of Kasikorn Securities, said the company had raised its target SET index from 900 points to 1,040 points at the end of the year because foreign capital is expected to continue flowing into the market, particularly in December.

Montri Sornpaisal, chief executive officer of Kim-Eng (Thailand) Securities, said should the Dow Jones industrial index surge to 11,000 points from the present 10,800 points, the SET index is likely to break through the 1,000 point level. (MCOT online news)

-- TNA 2010-10-05