In brief
The Federation of Thai Capital Market Organizations reported the confidence index dropped from 148.72 in September to 100.86 in October, with retail, proprietary, domestic institutional and foreign investors all reporting negative sentiment. Despite the decline, listed company earnings, government stimulus and a tourism recovery were highlighted as the main positive drivers. Key market risks remain geopolitical tensions, high energy costs, U.S. Treasury yields and inflation expectations, while exporters and consumer stimulus continue to support the market.
BANGKOK, Nov. 10 (Xinhua) – Thailand’s stock investor confidence fell sharply in October as geopolitical conflicts and a domestic economic slowdown weighed on market sentiment, a survey showed on Tuesday. The investor confidence index, which predicts market conditions over the next three months, stood at 100.86 last month, down from 148.72 in the September survey and slipping from the "bullish" into the "neutral" zone, according to the Federation of Thai Capital Market Organizations (FETCO).
Investor morale declined across all categories, with retail investors down 13.2 percent, proprietary investors down 19.2 percent, domestic institutional investors down 7.4 percent, and foreign investors down 49.2 percent, FETCO said in a statement.
Despite the downtrend, investors saw listed companies’ earnings as the strongest driver of market sentiment, followed by government economic stimulus measures and a recovery in the tourism sector.
Factors Driving the Decline
The Stock Exchange of Thailand (SET) index traded within a narrow range in October, pressured by the prolonged conflict in the Middle East, persistently high energy prices and U.S. Treasury yields, and concerns over continued inflation, said FETCO chairman Paiboon Nalinthrangkurn.
Paiboon noted that continued growth in Thai exports, especially digital and electronic products, lent the market some support.
Looking forward, Paiboon said investors are tracking the implications of U.S. midterm elections for economic and trade policies, the U.S. Federal Reserve’s monetary policy, and geopolitical tensions.
Outlook Ahead
He added that domestically, eyes remain on third‑quarter earnings of listed companies, the effectiveness of government flood‑relief and consumption‑stimulus measures, and the tourism recovery during the high season.
