Thai shares can resurrect: KAsset
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The Stock Exchange of Thailand Index has a chance to end the year at 1,400-1,450 points, should the government's economic policies are executed in an efficient manner, said Kasikorn Asset Management.
At the level, the upper end of target range represents a 12.6 per cent increase from 2015 closing of 1,288.02 points.
Vasin Vanichvoranun, executive chairman of Kasikorn Asset Management, said that the Thai exchange would brace for a series of negative factors, domestic economic policies are expected to be clearer than last year, including the ones to promote investment in 10 target industries and to boost domestic consumption.
Meanwhile, if infrastructure projects are executed efficiently, this would boost the confidence of investors and consumers and allow the economy to maintain the recovery mementum, he said.
The fund company and associated Kasikorn Research Centre expected the Thai economy to expand by 2.5-3.5 per cent in 2016.
As of today, the exchange remained under selling pressure.
Foreign net sales of Thai shares on Tuesday reached Bt3.64 billion, pushing the net sales in the first two days of 2016 to Bt484 billion.
Due to the selling pressure, the Stock Exchange of Thailand Index ended 10.07 points or 0.80 per cent lower today, to 1,253.34 points. Turnover was Bt45 billion.
Share markets worldwide plunged yesterday in the wake of dire economic news from China and escalating tensions in the Middle East.
Yesterday, the exchange lost 24.61 points to end the day at 1,263.41 points.
Share markets worldwide plunged yesterday in the wake of dire economic news from China and escalating tensions in the Middle East.
