Foreign investors remain net-sellers
Foreign investors remained net-sellers of Thai shares in the first three trading days of October, despite the US shutdown which fuels speculation of continued quantitative easing (QE).
Today when the SET index rose 1.43 per cent, foreign net-sell was tuned at Bt120 million. During October 1-October 3, combined foreign net-sell totalled Bt701.8 million, according to data from the Stock Exchange of Thailand.
US lawmakers last month failed to reach a compromise over a funding bill, leading to the partial shutdown on October 1 when over 800,000 federal workers have been furloughed. In this circumstance, the US Federal Reserve is expected to maintain the pace of bond-buying programme at US$85 billion a month. This is expected to further buoy emerging stock markets, including Thailand.
Thai shares have risen in the past three days, thanks mainly to institutional investorsâ€™ purchases.
The SET index gained 1.81 per cent on October 1, 0.06 per cent on October 2 and 1.43 per cent on October 3. The index closed today at 1,429.18 points.