Analysis:Thai stocks flounder in absence of China spark
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 market 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.
Analysis:Thai stocks flounder in absence of China sparkSINGAPORE : 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
Read more »
Thai central bank to hike more as rate not neutral yet, says core inflation highBANGKOK : Thailand's central bank expects further gradual policy tightening as the benchmark rate is not at neutral levels yet and core inflation remains elevated, officials said on Wednesday.The Bank of Thailand (BOT) has increased rates six times since August as policymakers stepped up efforts to tame h
Read more »
Thai government told to stop monkeying around as coconut-boycott campaign stingsPeta says monkeys are being used to harvest coconuts on Thai plantations. Read more at straitstimes.com.
Read more »
Chinese foreign minister Qin Gang tells Blinken US should respect China's core concernsThe phone call comes ahead of a reported planned visit to Beijing by Mr Blinken. Read more at straitstimes.com.
Read more »
China navy training ship visits the PhilippinesMANILA: A Chinese navy training vessel berthed in the Philippines on Wednesday (Jun 14) for a rare port visit as the two countries contest reefs and waters in the South China Sea. Dragon dances and a brass band greeted the 165m Qi Jiguang in Manila to mark its final stop on a Southeast Asian tour through V
Read more »
South Korea MPs want ouster of China envoy as Seoul seeks summitTies between South Korea and China have plummeted to depths not seen in years. Read more at straitstimes.com.
Read more »