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Investor confidence hits 7-month low on protest concerns

Investor confidence in Thailand’s financial markets for the next three months dropped to a seven-month low, dented by growing political protests, a capital market association said on Thursday.

A survey in October by the Federation of Thai Capital Market Organizations showed its confidence index fell to 61.27, the lowest level since a record low of 56.7 in March.

“Investor confidence was dragged down by the local political situation, followed by an economic slump amid concerns over a second coronavirus wave,” Paiboon Nalinthrangkurn, chairman of the federation, said in a statement.

“The October survey showed that investor confidence in all investor types slipped to the bearish zone,” he said. 

The Thai stock market has dropped 21% so far this year, with foreign investors dumping 304 billion baht (US$9.79 billion) net of Thai shares. They have sold 65 billion baht…

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