Corporate bonds hike in value

The value of long-term Thai corporate bonds rose 1.6% year-on-year to 270 billion baht in the first quarter of 2023, following a continued recovery of the economy, according to a Thai Bond Market Association (Thai BMA) release on Wednesday.

Managing director Somjin Sornpaisarn said the outstanding value of the Thai bond market totalled 16 trillion baht in the first three months, up marginally by 2% from 15.8 trillion at the end of 2022.

The expansion was mainly attributed to government and corporate bonds, which accounted for 50% and 29% of the total market, respectively.

Following the banking turmoil in the US and Europe, foreign investors’ net purchases last month amounted to 16.6 billion baht.

At the end of the first quarter, foreign investors’ holding of Thai bonds totalled 1.05 trillion baht.

“Thailand’s financial markets are well-equipped for the government…