Biggest Thai Fund Manager Says Stock Rally Set to End on Crisis

The longest rally in Thai stocks since 2012 is poised to end as valuations climb and the nation’s prolonged political crisis derails economic growth, according to the country’s biggest private money manager.

Local investors should shift money into U.S., European and Japanese shares to reduce risk, Chongrak Rattanapian, the executive chairman of Kasikorn Asset Management Co., said in an interview yesterday. Equity trading in Thailand has dropped by 56 percent this year, while price swings in the nation’s benchmark index are more than double those of the MSCI World Index of developed-nation stocks.