Foreign funds flock to Asia amid economic recovery

Foreign funds continued to flow into Asian stock markets in January, backed by the economic recovery and China’s reopening, according to a Stock Exchange of Thailand (SET) briefing on Tuesday.

With the baht appreciating, foreign investors last month posted net purchases of more than 58 billion baht combined for the stock and bond markets.

The positive outlook was supported by the rising numbers of tourist arrivals and the likelihood that export growth will resume in the near future.

Investor concern about a deep recession has eased as inflation slows, which could encourage central banks to loosen monetary policy earlier than expected, said SET senior executive vice-president Soraphol Tulayasathien.

“Buoyed by the continuity of the Thai economic turnaround coupled with China’s…