Thai institutional investors are picking up stocks at a record pace as an exodus of foreign money sends valuations to a nine-month low.
Domestic funds bought a net 28.6 billion baht worth of Thai stocks this month through Friday, on course for the biggest monthly inflow since Bloomberg began compiling exchange data in 1999. Foreigners have sold a net 55.4 billion baht worth of shares this month, heading for a record outflow.
The SET Index has dropped almost 12% since US federal Reserve Chairman Ben Bernanke said on May 22 that policymakers may consider paring stimulus if the US labour market improves, prompting investors to wipe as much as $5.3 trillion in value from global stocks.
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