Thailand’s stock market has been under pressure from foreign investors, who have sold off nearly 100 billion baht worth of shares in the first five months of 2023, according to the Stock Exchange of Thailand (SET).
Key Takeaways
- Foreign investors sold nearly 100 billion baht worth of Thai shares in the first five months of this year due to rising global interest rates and uncertainties in forming the new government.
- The Stock Exchange of Thailand expressed confidence that the recent easing of the US debt ceiling could bolster global sentiment and encourage investors to buy more Thai stocks on the back of a recovering Thai economy.
- SET’s forward price to earnings ratio (P/E) was still below the historical average, and this encouraged individual and local institutional investors to buy with a net position for the January-May period.
Rising global interest rates
The main reasons for the…
