Julius Baer Says Thai Markets Retreat to Deepen: Southeast Asia
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Bank Julius Baer & Co. says losses in Thai assets will probably deepen while BlackRock Inc. is bearish on the baht as political unrest threatens to worsen the nation’s economic slowdown.
The SET Index of shares has dropped 3.2 percent during the past month as the baht weakened 3 percent against the dollar. Yields on the nation’s 10-year bonds increased 18 basis points. Foreign investors sold $5.1 billion of Thai equities this year, set for the biggest annual outflow since Bloomberg began compiling the data in 1999, and they cut bond holdings by about $1.3 billion in November.