Investors are more confident on Thailand economic recovery: Survey

The Investor Confidence Index for the next three months rose by 21per cent on economic recovery expected after eased business restrictions, according to a survey by the Federation of Thai Capital Market Organisations (FETCO).

FETCO chairman Paiboon Nalinthrangkurn said the index for August rose to 96.93 from 80.4 in the previous survey, Thai News Agency (TNA) reported.

Investors based their confidence on the performances of listed companies in the second quarter of this year, the recovery of local economy due to government policies and the improved situation of the coronavirus disease 2019 pandemic, he said.

The latest survey found that food and beverage stocks were the most attractive while tourism and recreation stocks were the least interesting.

Mr Paiboon said the Stock Exchange of Thailand already bottomed out and was picking up. The index rose 3 per cent in May but still showed a 15 per cent decline compared with its level at the beginning of this year. He expected SET to reach 1,400 after the government eases its business lockdowns.

Ariya Tiranaprakij, senior executive vice-president of the Thai Bond Market Association, said the Monetary Policy Committee was likely to maintain the policy rate at 0.5 per cent this month on the economic decline possibility, lower global interest rates and capital outflows.

-- BERNAMA