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Investor confidence declines to lowest level in 9 months
Market waits for vaccine distribution
published : 4 Aug 2021 at 04:00
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Investor confidence has plunged to its lowest level in nine months and is now bearish amid concerns over Thailand s worsening pandemic and economic contraction, according to a new survey.
Paiboon Nalinthrangkurn, chairman of the Federation of Thai Capital Market Organizations (Fetco), said the Investor Confidence Index (ICI) in July, which anticipates market conditions over the next three months, was at 64.4, down 39.3% from the previous month. It fell into bearish territory, which is anything below 80, for the first time in nine months.
Vaccine distribution to help ease the pandemic remained the strongest factor supporting investor confidence, followed by the pace of the local economic recovery and hopes that government policies would shore up the economy.
Paiboon Nalinthrangkurn, Chairman of the Federation of Thai Capital Market Organizations (FETCO), said the FETCO Investor Confidence Index (FETCO ICI) in July, which anticipated the market condition over the next three months, is at 64.37, dropping 39.3 percent from the previous month, and enters bearish zone. COVID-19 vaccine distribution to help ease COVID-19 situation is the most supportive factor investors have anticipated, followed by pace of local economic recovery and how government s policies will shore up the economy. However, worsening COVID-19 pandemic in Thailand, followed by international conflicts and the country s economic retreat are the most concerning factors.
Highlights of FETCO Investor Confidence Index surveyed in July 2021 are as follows;
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For Chonladet Khemarattana, chief executive officer and co-founder of Robowealth, a Thai wealth tech startup and mutual fund brokerage, it's always the small pieces that make the big picture.