SET steady after govt policies unveiled, as investors wait for more details
Investors are still waiting for further details on the government’s economic policies after Thursday’s policy announcement in Parliament, according to market experts.
“Investors’ sentiment will likely be unchanged by today’s policy announcement and debate as the policies have been public for several days now but the details on their implementation are still unclear,” said Paiboon Nalinthrangkurn, chairman of the Federation of Thai Capital Market Organisations (Fetco).
However, the market may see positive signs in Thursday’s official policy announcement by Prime Minister Prayut Chan-o-cha, as it signalled continuity in major economic policies such as development of the Eastern Economic Corridor and promotion of foreign investment, he said.
The market is not expected to react significantly until investors see further details of policy and implementation, Paiboon added.
The policies unveiled by the government on Thursday were as expected, with key emphasis on short-term welfare and agriculture. However, the policies outlined were still vague and the details of how they will be implemented were still unclear, said Mana Nimitvanich, first vice president of the Krungthai Bank’s global business development and strategy group
On Thursday, the Stock Exchange of Thailand (SET) closed at 1,730.90 points, up 0.32 per cent or 5.46 points, with a value of Bt58.9 billion.
Foreign, institutional, and individual investors also recorded net buys of Bt57.50 million, Bt36.11 million and Bt361.42 million respectively.
