Thailand's election mode boosts investors' confidence

BANGKOK, October 10 (TNA) - Investors' confidence in Thailand has been on a rising trend, thanks to a clear schedule of the country's new general election set by early next year by the government. Paiboon Nalinthrangkurn, Chairman of the Federation of Thai Capital Market Organizations (FETCO) Board, told journalists that the FETCO Investor Confidence Index for this month, which shows investors' confidence in the country over the next three months, has increased to its bullish level for the first time in seven months to the 120.60 level, a 12.01 per cent increase from the 109.45 level in the earlier survey. Paiboon attributed the increased index mainly to Thailand's ongoing election mood, after the government has initially set the country's new general election date on February 24, 2019. Besides, Thailand's well-growing exports, sound tourism prospect and steadily economic expansion have also boosted the latest surveyed FETCO Investor Confidence Index. Paiboon said the FETCO's latest survey found that investors were mostly interested in the Thai banking sector and expressed their least interest in the Thai fashion sector. However, the FETCO Board chairman cited remaining risk factors that could affect investors' confidence in Thailand, including impacts from the ongoing trade war between the United States and China and the increased US key interest rate, as well as rising capital outflows and world oil prices amid the approaching effect of Washington's sanctions on Iran's oil sector on November 4 without any announcement so far of an increase in oil production by other members of the Organization of the Petroleum Exporting Countries (OPEC). Meanwhile, ‌Investment Analysis Association (IAA) Secretary General Sombat Narawuthichai acknowledged that the latest survey also found most securities analysts viewed the Stock Exchange of Thailand (SET) index should stand at 1,818 points on average this year, when the average net profit per share should reach 109.31 baht and the average net profit growth rate per share should stand at 9.93 per cent. (TNA)