The Stock Exchange of Thailand (SET) said that with the continuity of Thai economic turnaround coupled with China's border reopening, funds continued to flow into Asian stock markets, particularly the Thai bourse, in January.
Foreign funds flock to Thailand’s stock market (Photo: bangkokpos)
Bangkok (VNA) – The Stock Exchange of Thailand (SET)said that with the continuity of Thai economic turnaroundcoupled with China's border reopening, funds continued to flow into Asian stockmarkets, particularly the Thai bourse, in January.
According to SET senior executive vice-president SorapholTulayasathien, investor concern about a deep recession has eased as inflationslows, which could encourage central banks to loosen monetary policy earlierthan expected.
🌺 With the baht appreciating, foreign investors lastmonth posted net purchases of more than 58 billion THB (1.6 billion USD)combined for the stock and bond markets. The positive outlook wassupported by the rising numbers of tourist arrivals and the likelihood thatexport growth will resume in the near future.
In the first month of 2023, the SET index rose0.2% from December, 2022 to 1,671.46points, an increase that was consistent with regional peers.
🌊 The index last month was propelled by industries that haveimproved based on Thailand's reopening, with solid earnings expected for thefinal quarter of 2022. Consumer products, technology, services, andproperty and construction sectors fared better than the average SET index forthe period.
The Market for Alternative Investment's averagedaily trading value rose to 72.0 billion THB in January, up from 56.2 billionin December, but fell 23.7% year-on-year.
💞 Foreign investors were net buyers for a fourth consecutivemonth in January, tallying 19 billion THB, raising their total net purchasesto 69.4 billion from October 2022 to January 2023.
According to the SET, foreign investors have alsohad the highest trading value ratio for nine straight months. Soraphol noted the value of Thailand's initialpublic offerings this year should be among the highest in Asia./.
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Foreign funds flock to Thailand’s stock market (Photo: bangkokpos) 
