The Stock Exchange of Thailand (SET) composite index is expected to continue rising in the last half of this year, although at a slower pace, boosted by possible positive growth of the gross domestic product (GDP) in the fourth quarter, according to a leading fund manager.
Chumpol Saimala, first executive vice president of ING Asset Management (Thailand) Co., said the SET index would still consolidate its position in tandem with other stock markets around the globe in the short run.
He said the primary risk factors to the stock market now are the global and Thai economic uncertainties, and the unpredictable political situation.
Should political developments become stable and the state-supported investment projects be implemented as targeted, Mr. Chumpol noted, it would bode well for the country’s economy and stock market investment.
Asset management companies, he said, are waiting for a clearly stated government policy on mega-projects so that they could apply to the Securities and Exchange Commission (SEC) to issue basic infrastructure funds.
Mr. Chumpol said the government’s plan to offer saving bonds under the Thai Kem Kaeng (Thai Stronger) project would have little impact on investment in mutual funds because the bonds are issued to raise an amount of only Bt30 billion. (TNA)