Foreign capital outflows depress Thai stock market

[Lite Beer]

Foreign capital outflows depress Thai stock market
By English News

BANGKOK, Aug 28 – Foreign capital outflows from the Thai stock market, reaching Bt110 billion since early this year, should slow down, Stock Exchange of Thailand (SET) president Charamporn Jotikasthira said today.

He said the outflows were mainly due to investors’ concerns after the US Federal Reserve announcement to partially withdraw its economic stimulus through quantitative easing (QE).

Mr Charamporn said listed companies’ profits and dividend payments at an average 3 per cent remain attractive compared to interest from savings and bonds.

When investors are less anxious about the QE measures, they will return to the Thai stock market, he said, adding that most Thai listed companies have experienced crises and adjusted accordingly.

Mr Charamporn admitted that the political crisis in Syria, which pushed up oil prices, would have an indirect impact on the Thai stock market.

The market fell more than 20 points on opening this morning given investor anxiety over the Syrian situation.

The Stock Exchange of Thailand organised “Thailand Focus 2013” event in Bangkok today and tomorrow to attract foreign investors to invest in government development projects--particularly infrastructure investment to boost Thailand’s competitiveness.

He said the state investment would strengthen Thai listed companies in expanding their businesses to the region.

Deputy Prime Minister/Finance Minister Kittiratt Na-Ranong gave assurances that Thailand remains attractive to foreign investors given its gross domestic product (GDP) growth at 4.1 per cent in the first half of this year, a jump from 2.6 per cent year-on-year.

He said listed companies have made impressive profits but admitted that internal political volatility has affected investor confidence and Thailand’s credit rating. (MCOT online news)

-- TNA 2013-08-28

[ThaiSETtrader]

means nothing

[ray23]

would seem to mean lower entry prices.

[Naam]

would seem to mean lower entry prices.

which is very positive

[ray23]

would seem to mean lower entry prices.

which is very positive

How has life been treating you Naam time for me to come play agian. Been waiting for this. I will do it exactly as I did last time little bites.

I still expect things to go lower maybe a dead cat bounce. As long as the foreign money keeps going out, there should be some real good buys out there.

Last time bought the wife a nice little mushroom farm makes a tidy profit daily.

Edited August 28, 2013 by ray23

[diggledunc]

It was only last week that the news came out Thailand had hit a technical recession. GDP growth negative for first two quarters of this year. What's he mean GDP growth at 4.1% in first half of this year. Does he not read the newspapers.

[Naam]

would seem to mean lower entry prices.

which is very positive

How has life been treating you Naam time for me to come play agian. Been waiting for this. I will do it exactly as I did last time little bites.

I still expect things to go lower maybe a dead cat bounce. As long as the foreign money keeps going out, there should be some real good buys out there.

Last time bought the wife a nice little mushroom farm makes a tidy profit daily.

life's a bitch Ray, i'm glad that i don't hold any Thai stocks but i have to admit that this year's performance of my portfolio was not exactly stellar until now

apropos "mushroom farm"... congratulations! we have an old saying in Germany:

Dear God, please preserve my wife's health and her ability to make money!

[ray23]

Sorry to hear that. Well I have next to nothing in stocks now. So the more it goes down the better for me to buy in..

[ray23]

Sorry should have mentioned 15,000 baht exposure so not going to get hurt

If things go under 1200 then I might get serious. So many things going on these days really hard to find a direction. I will just keep looking for the ever illusive bottom.