Foreigners flee Thai stocks at rapid rate

Foreign investors were net sellers of US$1.1 billion (37 billion baht) worth of shares on the Thai stock exchange in February, the highest value among Asian bourses for the month and the biggest net sell-off on the exchange since April 2020, with several factors pressuring investments, according to analysts.

Foreign investors sold 3.33 billion baht worth of Thai shares on Tuesday, according to LH Securities. The current account deficit reached $2 billion in January, as reported by the Bank of Thailand on Tuesday, prompting continued capital outflows and a further weakening of the baht.

In the first two months of this year, foreign net selling totalled 25.2 billion baht, with the Stock Exchange of Thailand (SET) falling 3.4%, or 56.62 points, over the period.

“The Thai stock…