Thai shares end higher
The Stock Exchange of Thailand index ended Tuesday 10.54 points or 0.72 per cent higher, as investors' concerns about "Grexit" impacts eased.
The index stood at 1,483.77 points on turnover of Bt33.4 billion.
Asia Plus Securities said in a research note that the debt problem had no actual worrying negative sentiment on Thailand's fundamental factors or fund flow. The debt issue has adversely affected Thailand's export most, but export to Greece made up only 0.06 per cent of Thailand's total export in 2014, while export to Europe account for 12 per cent of total export.
"Therefore, as long as the debt issue does not depress European real sector, Thailand's export would not be severely affected by this issue," it said.
It also noted that accumulated foreign net buy since 2009 has plunged from the peak of Bt321 billion in mid-2013 to Bt21.5 billion at present, which means foreign fund outflow would continue but at a smaller value. Still, SET Index would decline due to lack of institutional buying power. Institutional net buy since the fourth quarter of 2012 of Bt215 billion has completely absorbed massive foreign net sell already.
