Baht weakens, bonds gain | Bangkok Post: Most recent

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Baht weakens, bonds gain

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  • Writer: Bloomberg
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Thailand's baht fell toward a three- week low and government bonds advanced before a report that economists predict will show exports dropped for a fourth month. 

Overseas sales decreased 2.7% in September from a year earlier after a 7% slide in August, according to the median forecast in a Bloomberg survey before data due 11am in Bangkok. The MSCI Asia Pacific Index of shares declined for a fourth day as earnings that trailed estimates at companies including DuPont Co and Kawasaki Heavy Industries Ltd fanned concern the international economy is worsening.

"We are seeing weaker earnings, which makes investors worry about the global economic slowdown and hurts market sentiment," said Tsutomu Soma, manager of the investment trust and fixed-income business unit at Rakuten Securities Inc in Tokyo. "This is feeding into the deterioration in the export outlook for Asia and weighing on regional currencies."

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