Investor confidence in the Thai stock market has hit a five-month low, weighed down by the Israel-Hamas conflict and capital outflows, a survey by a capital markets group showed on Wednesday.
The October survey by the Federation of Thai Capital Market Organizations (Fetco) showed its overall investor confidence index, which anticipates market conditions over the next three months, dropped by 31.5% from the previous survey, slipping into the bearish zone from neutral.
The index in September was down 20.6% from August.
Foreign investors’ confidence in October declined 16.7% from the previous survey, Fetco said in a statement. Confidence declined by 45.3% among retail investors, 34% among brokers and 31.6% among institutional investors.
The SET Index has fallen about 15% so far this year, with foreign investors net sellers of about 175 billion baht worth of Thai shares, compared with net buying of just over 200 billion baht for all of last year.