Foreigners to be net buyers of Thai shares in July: Research
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Foreign investors are expected to be net buyers of Thai shares in July in spite of inconclusive Greek crisis that leads to sell-offs in other markets, said Asset Plus Securities.
In a research note, it said that foreign fund inflow started to get back in the last week of June. Statistically, foreign investors were usually net buyers in July, as evidenced in nine out of ten recent years.
"Moreover, SET Index is giving as much as 2.27% yield now; the market has 80 per cent probability of giving positive return in July in the past ten years," the brokerage house said.
In June, Taiwan was with the biggest accumulated net sell of $2.7 billion, followed by South Korea of $964 million, Indonesia of $325 million, the Philippines of $225 million, and Thailand of $311 million or Bt10 billion.
Overall, foreign investors bought US$29 million net in Asia on Wednesday, when the Stock Exchange of Thailand was closed Taiwan was the only market with a net buy of $56 million, whereas Indonesia faced a net sell of $16 million (after a net buy on Tuesday), the Philippines of $9 million and South Korea of $3 million.
On Tuesday, foreign investors bought $77 million net in overall. Only South Korea faced a net sell of $7 million, while the other markets were with a net buy: Taiwan of $52 million, Indonesia of $18 million, the Philippines of $11 million, and Thailand of $2 million or Bt76 million (third day).
At 3.56pm, the SET index lost 9.41 points to 1,495.14 points, on turnover of Bt36.2 billion.
