THE Chairman of the Federation of Thai Capital Market Organizations (FETCO) warned this morning (Nov. 6) that the Thai stock market has been affected by demonstrations that have lingered for over two months now with future outlook depending on whether they escalate or not, INN News report.
Mr.Paiboon Narintarangkul, FETCO’s chairman, pointed out that there is no indication the political rallies will end soon with one called for Sunday November 8.
Underscoring this trend is the latest Investor Confidence Index survey that shows that politics remains the most worrying factor for investors, he said, adding that investors also said they hoped the protests are manageable and do not escalate into a bigger problem.
On the divisive and bitter US presidential election with Republican incumbent President Donald Trump today repeating his complaints of “tremendous corruption and fraud in the mail-in ballots” while his Democratic challenger Joe Biden edges closer to getting 270 electoral votes needed to capture the presidency, Paiboon said if Biden won the stock market might not get as much support as it did under Trump.
What will improve is the atmosphere of international trade because Biden is unlikely to pursue the same policies Trump has in recent past.
This could lead to investment funds flowing to emerging markets, with Thailand still remaining interesting to the investors but it has to manage the internal risks, especially political rallies, he said.
Top: FETCO’s chairman Paiboon. Photo: INN News