Exchange down on political uncertainties

Political uncertainties have encouraged foreign investors to shift over Bt10 billion from the Thai stock market to the bond market, Stock Exchange of Thailand Chairman Pakorn Malakul Na Ayudhya.

"Investors prefer certainty to estimate risks. Political risks are out of their control. As political uncertainties remain, investors have shifted their investment to the bond market," Pakorn said at the seminar on Monday entitled "Roadmap on Economic Revival".

In focus are the likely dissolution of political parties, the 2-3-digit lottery case and the proposed amendment in the Constitution.

Kongkiat Opaswongkarn, CEO of Asia Plus Securities, noted that once politics are clearer, the exchange's index could rise on the support of the low price-to-earning ratio, at 11 times at present.

"The Thai market is now shielded from the sub-prime crisis, with the index having lost only 2 per cent compared to 12 per cent in Wall Street. The P/E ratio is still low while listed companies' profits should grow 24 per cent," Kongkiat said.

- The Nation

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Exchange down on political uncertainties

Political uncertainties have encouraged foreign investors to shift over Bt10 billion from the Thai stock market to the bond market, Stock Exchange of Thailand Chairman Pakorn Malakul Na Ayudhya.

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