SINGAPORE : Thailand's stock market has become the symbol of investor disenchantment with China's economic reopening, going from market darling in January to Asia's second-worst performing markets by June, with little sign of a turnaround. Not only has the promised export boom and tourism boost from China
SINGAPORE : Thailand's stock market has become the symbol of investor disenchantment with China's economic reopening, going from market darling in January to Asia's second-worst performing markets by June, with little sign of a turnaround.
"I'm surprised that we're struggling," said Jeep Chatikavanij, portfolio manager at Bangkok-based Ton Poh Fund. Thailand recorded a current account deficit of $0.5 billion in April, reversing a $4.8 billion surplus in the previous month, as exports contracted 4.9 per cent year-on-year. Foreign investment out of the $550 billion Thai stock market stood at $995 million in May, marking the fourth straight month of outflows, the longest such streak in two years, data from Refinitiv showed.
But a government has yet to be formed, while a prime minister is expected to be selected only in August as frontrunner Pita Limjareonrat faces setbacks and challenges.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First female CFO appointed at Singapore Airlines - Singapore NewsShe's a graduate of Imperial College in the UK with a Master of Engineering and has been with Singapore Airlines since 1999
Read more »
HDB Housing Grants Available for Different Types of Flats in Singapore (2023) - Singapore NewsRead on to find out the different housing grants available, the eligibility criteria and what you need to look out for when applying for one
Read more »
More Singapore manufacturing firms setting up shop in India - Singapore NewsApple, Samsung, Kia, Boeing, Siemens, and Toshiba are among the companies looking to bring a considerable amount of manufacturing to India. Singapore companies, while traditionally looking to their manufacturing needs to China and South East Asian countries, seem to be following suit
Read more »
Latest COE Prices in Singapore and Best Car Loans in June 2023 - Singapore NewsIndeed, the latest round of COE prices, released on 7 June, saw premiums rebound across the board (except for Cat E), proving that May’s results were merely an anomaly rather than the start of a much-awaited downtrend
Read more »
Analysis:Diverging rates outlook has China's yuan eying 2022 lowsSHANGHAI/SINGAPORE : Bond markets are putting Chinese and global rates on opposite paths, speculating on cuts in China against hikes in the U.S. and prompting banks and Chinese companies to prepare for a weaker currency as Beijing rolls out more stimulus.The yuan fell past the closely-watched seven-per-do
Read more »
Analysis:In China's lithium hub, mining boom comes at a costYICHUN, China : Down a steep dirt road from the Baishi Huashan lithium mine in southern China, trucks laden with silvery grey ore rumble towards a cluster of smelters in the valley below that have sprung up to cash in on the electric vehicle battery boom.The city of Yichun, China's most prospective region
Read more »