Thai stock investor mood at 6-month low on Fed tightening

Investor confidence in Thailand’s stock market over the next three months slipped to a six-month low on concerns about the US Federal Reserve’s tightening plans and a sluggish domestic economy, a capital market group said on Monday.

A January survey by the Federation of Thai Capital Market Organizations (Fetco) showed its investor confidence index tumbled to 93.91 from 129.53 the previous month.

Foreign investors’ confidence plunged to the “bearish zone” from the “bullish zone”, hurt also by international conflicts, the federation said.

However, foreign fund inflows are expected to continue on optimism over a tourism recovery, said federation chairman Paiboon Nalinthrangkurn.

“With global market volatility, the Thai market is seen as a ‘safe haven’,” he told a news conference.

Foreign investors bought about 40 billion baht net of Thai shares over the past two…