Investor confidence declines to lowest level in 9 months
Market waits for vaccine distribution
published : 4 Aug 2021 at 04:00
67
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.
ICI drops to neutral terrain
published : 6 Jul 2021 at 04:00
The Investor Confidence Index (ICI) for the next three months dropped to the neutral territory for the first time in eight months due to rising concerns about the prolonged pandemic.
However, investors expected capital inflows in the second half of the year after a recovery in listed companies profits and a weakening of the US dollar.
Paiboon Nalinthrangkurn, chairman of the Federation of Thai Capital Market Organizations (Fetco), said the FETCO ICI in June, which anticipated market conditions over the next three months, is at 106.05, down 16.1% from the previous month due to the pandemic.
Wall Street Set To Open Higher
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - State Investor Confidence Index for May and Survey of Business Uncertainty for May might be the focus on Wednesday.
Since there is a slight decline in global coronavirus, investors are closely monitoring the vaccination progress. As per the World Health Organization s, there was a 14 percent drop in coronavirus cases.
Asian shares finished mostly up, while European shares are trading broadly up.
Initial cues from the U.S. Futures Index suggest that Wall Street might open higher.
As of 7.30 am ET, the Dow futures were adding 82.00 points, the S&P 500 futures were progressing 14.00 points and the Nasdaq 100 futures were adding 58.00 points.