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Thailand’s confidence level of the market had declined for a five year low last June amidst the concern that the export growths of the baht will be targeting the new 10-year high in the US dollar, as told by the University of Thai Chamber of Commerce.
The market esteem index had declined to 76.8 points last month to 76.9 points last May, it is the lowest decline in March 2002. the index has been below the 100 points, this has indicated the pessimistic market, in the 35 consecutive month, stated by the University.
The rapid strength in the baht opposing the US dollar is among the main factors that had been depressing the sentiments of the market. The currency has been strengthened in line of the rapid performance by the stock market here, jumping to a 10-year high earlier this month. the baht strengths makes an export for less competitive abroad and declined the value in the companies that had repatriated profits. The exports had accounted for a 60% in the economy. The baht was 33.39 to 33.43 to US dollar at the afternoon trading.
22:42
Posted on Jul-13-2007
