Investor Confidence Index likely to drop in March

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BANGKOK – Volatility in global markets and currencies is forecast to push down the local Investor Confidence Index by 17.85% to 73.46 in March.

The President of the Federation of Thai Capital Market Organization (FETCO), Worawan Tharapoom, made the three-month projection, citing previous figures. She said the foreign Investor Confidence Index would take the biggest hit, falling 57.15% to 33.33.

Ms. Worawan explained that the massive drop is the culmination of international concerns, and volatility in global markets and currencies, particularly China’s weakening yuan. Other key factors include low fuel prices, unrest in the Middle East, and the U.S. Federal Reserve’s decision to raise the benchmark interest rate.

According to the FETCO President, government policy would be the most influential element affecting the local stock market. She suggested that the administration find measures to improve agricultural prices, arguing that agriculturalists make up the biggest group of consumers. Ms. Worawan also recommended that the government come up with a plan to effectively deal with the anticipated drought.