The Stock Exchange of Thailand moved mostly sideways last month. The index started out the month on a positive footing, gaining almost 30 points to peak at 1,695.99. However, after poor results from banks and big conglomerates such as SCC, the SET retreated to close at a January low of 1,671.46, up only 0.2% from the year-end.
Average daily turnover shot up 27% from the month before to 68 billion baht. Foreign investors, net buyers since the beginning of the year, bought more than 20 billion baht in the first half of the month.
However, with the weak results from banks, foreign investors’ net buying slipped to 18 billion baht, and as of Thursday it was just 957 million baht for the year-to-date.
Meanwhile, local institutions were net sellers of 24 billion baht in January,…
