Investor confidence drops amid rising case numbers
Fetco downgrades nation’s GDP forecast
The SET Index fell by 33.91 points, or 2.1% to close yesterday at 1,549.22 points, dragged lower by US tech share and local share selloffs as local concerns also grow over the government’s debt moratorium.
The Investor Confidence Index (ICI) for the next three months also tumbled by 14.6% from the previous month to 124.37 — still remaining in the bullish zone — dragged down by short-term concerns over rising Covid-19 cases.
Natapon Khamthakrul, vice-president at Yuanta Securities said the market is worried that if the cabinet approved the debt moratorium for government banks, private banks may need to follow suit and therefore face more financial burden as they still need to continue preparing for a loan loss…
