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Thailand: Asia Plus Securities executive says foreigners should buy Thai stocks.
(From Thai Press Reports)
Section: Investment - Foreign investors continue to buy Thai stocks despite a regional selloff on Monday that was triggered by a leap in oil prices above $70 a barrel, according to Kongkiat Opaswongkarn, chief executive of Asia Plus Securities, the Bangkok Post reports.
"In fact, foreign investors continue to make a net buy into Thai shares. What happened on Monday was a special case due to cross-selling transactions of Minor Corp and Minor International shares, which Bualuang Securities decided to sell to Kim Eng Securities," he added.
The Stock Exchange of Thailand was down 0.66% and saw a net sale of foreign investors of 1.47 billion baht on Monday. The market, however, clawed back 1.53 points to close at 692.86 Tuesday.
Dr Kongkiat, who also is chairman of the Federation of Thai Capital Market Organisations, expects only a short term effect on Thailand and other Asian stock markets from Monday's oil price surge, which occurred as Hurricane Katrina shut more than 40% of all ...
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