Thailand's bull market is expected to continue for a few more years as foreign funds shift from debt markets to equities, says Tisco Securities.
Chief executive Paiboon Nalinthrangkurn said the market projects an end to quantitative easing (QE) in the US will be the main factor moving fund flows from bond markets to equities, including Thailand's emerging bourse. The gradual shift will depend on a clearer policy from the Federal Reserve on a QE exit.
Despite massive foreign capital fund flows into the Thai bond market since the US sub-prime crisis, an insignificant amount has reached the Stock Exchange of Thailand (SET).
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