ภาษาไทยInvestor confidence in bullish zone for third straight month
Optimism is on the rise. Thailand’s Investor Confidence Index was in the optimistic zone for the third consecutive month, according to the local capital markets association, signaling expectations that the economy will continue to recover from the pandemic.
Related to that, the trading value on the Stock Exchange of Thailand (SET) rose 43 percent year on year in February, and the Market for Alternative Investment (MAI) Index recorded its highest month-end closing in two years. Stocks in the food, banking and industrial sectors outperformed expectations, providing a strong indication that the economy is on the upswing.
Paiboon Nalinthrangkurn, Chairman of the Federation of Thai Capital Market Organizations (FETCO), said the Investor Confidence Index for the next three months rose to 152.19 in February, a 14.8 percent increase from the previous month, firmly in the bullish zone.
“The government’s rollout of its coronavirus vaccine program propelled investor optimism along with other signs of economic recovery, including foreign funds flowing into emerging markets,” Paiboon said.
To the surprise of many analysts, tourism and leisure was the most attractive sector in the survey, followed by banking and energy. Steel, fashion and property development were the least attractive sectors.
“For the first time since the start of the pandemic, investors have chosen tourism as the most attractive sector. This demonstrates growing confidence in investment after vaccination. I expect a stronger economic recovery will happen in the second half of this year, and many industries will return to normal next year,” Paiboon said.
His opinion was that sentiment would have risen even higher had it not been for a recent COVID-19 outbreak that has now been brought under control.
