Downward revision in end-2014 SET index expected
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Thailand's securities houses are likely to revise downward their 2014 SET index projections, due to prolonged political protests.
Foreign investors remained net-sellers today, selling net Bt3.7 billion worth of Thai shares. In this week alone, their net-sell has hit Bt18.87 billion.
Sombat Narawutthichai, secretary-general of the Securities Analysts Association, said Friday that there are negative factors chiefly political protests which must be taken into account. Aside, as the US is reducing its bond-buying programme, this could lead to further sell-off of shares in emerging markets including Thailand.
Analysts are being asked to submit their latest projections for the SET index and listed companies' earnings, he added.
In July, the majority of analysts expected to index to end 2014 at 1,700 points.
Sombat hopes that new investment in long-term equity funds (LTFs) and retirement-management funds (RMFs) this month, worth tens of billion baht, would push up the index at the end of this year.
At 4.34pm, the SET index stood at 1,358.41 points, losing 18.22 points or 1.32 per cent.
